Ritically discuss the view that oil and gas exploration and production companies appear to manipulate the reporting of their oil and gas reserves.

Please,
1) Mix from references (books, journals and website).
2) Refer to quotes in the essay.

*** Topics that we are expected to look in to and elaborate in detail:
1Income smoothing and income management.
2Talk generally why companies do manipulate their accounts.
3Why reserves value are so important.
4Companies do capitalized expenses as to have higher assets.
5Directors are been paid based on the level of reserves so the higher the reserves the higher their level of bonus, and other entitlements.
6Companies do increases their reserves for defence purposes, so their sister companies might have fear of approaching them for take over deal, so difficult to be taken over by the others.
7Companies do manipulate in order to attract the attention of share holders.
8Most of the assets of oil and gas companies are intangible in nature there fore are easy to be manipulated.