Petroleum industry cost accounting requires a statutory compliance report and detailed proforma schedules for activity wise cost disclosure. The Rules require a statutory Compliance Report by an appointed cost accountant certifying that prescribed cost accounting records for petroleum activities are maintained, unit wise and product/activity wise cost statements prepared, and conformity with accepted cost accounting principles and standards is observed; qualifications and observations must be recorded. Detailed proforma schedules (A-L) mandate quantitative and cost disclosure for utilities, survey, drilling, finding reserves, lifting, conveying, refining, marketing, transportation and production, and require reconciliation of cost accounts with financial accounts, apportionment bases, and disclosure of cost accounting policies.