Financial Accounting Standards Board (FASB)

The FASB Accounting Standards Codification is the source of authoritative
generally accepted accounting principles (GAAP) recognized by the FASB to be
applied by nongovernmental entities.

They provide updates from time to time about different topics.

An example: Archer Daniels Midland

I was reviewing this company and how the free cash flow turned negative in 2017.

I did not liked it, and I did a comment in twitter about this fact on a person that published some fundamental data.

I received an answer. And it was that a change in the US GAAP accounting classification made $ADM to reclassify the early collection of revenue that $ADM receives in advance,

The note that follows:

So this change in 2016 is impacting so many companies and I was thinking that it was a deterioration of the business itself. 🙁

Statement of Cash Flow Topic 230

This Statement of Cash Flows (Topic 230), contains all the data related to the different classifications that need to be done. It’s a large document for accountants.




Counting drilling rigs


I have the purpose of counting US drilling rigs that are producing oil. I understand so many of them are closing and the cost to re-open them should be considerable. With the amount of oil in the market and the future prices sinking into even negative values, I want to challenge my self if I can improve the way to analyze and predict when the barrel price is going to bull again.

US drilling regions

These are the main drilling regions in US.

  • Permian
  • Anakardo,
  • Appalachia,
  • Niobrara
  • Eagle Ford
  • Haynesville
  • Bakken

Sources of data

I only found a place that offers directly the number of opened drilling rigs in a chart. And it’s just for Oklahoma (Anakardo). It’s this one:

Some other sources:

to do: find more data.