2.0.0.10falseNote 2 - Summary of Significant Accounting Policies00901 - Disclosure - Note 2 - Summary of Significant Accounting Policiestruefalsefalsefalse1usd$falsefalseDollarsStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli020pbra_NotesToFinancialStatementsAbstractpbrafalsenadurationstringNo definition available.falsefalsefalsefalsefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalsefalse00falsefalsefalseNo definition available.false31us-gaap_SignificantAccountingPoliciesTextBlockus-gaaptruenadurationstringNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalsefalse00<div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="text-align: justify;"><b>2. Accounting Policies</b></p>
<p style="text-align: justify;"> <b>2.1 Recently Adopted Accounting Standards</b></p>
<p style="text-align: justify;"> <b>a) Transfers and Servicing (ASC 860), Accounting for Transfers of Financial Assets (ASU 2009-16)</b></p>
<p style="text-align: justify;"> The FASB issued ASU 2009-16 in December 2009. This standard removes the concept of a Qualifying Special Purpose Entity (“QSPE”) and the exception for QSPE consolidation and clarifies the requirements for financial asset transfers eligible for sale accounting. ASU 2009-16 was adopted on January 1, 2010, and did not impact the Company’s results of operations, financial position or liquidity. </p>
<p style="text-align: justify;"><b>b) Consolidation (ASC 810), Improvements to Financial Reporting by Enterprises Involved With Variable Interest Entities (ASU 2009-17)</b></p>
<p style="text-align: justify;"> The FASB issued ASU 2009-17 in December 2009. This standard became effective for the Company on January 1, 2010. ASU 2009-17 requires the enterprise to qualitatively assess if it is the primary beneficiary of a variable-interest entity (“VIE”), and, if so, the VIE must be consolidated. Additionally, this Statement requires continuous assessments of whether an enterprise is the primary beneficiary of a VIE. ASU 2009-17 was adopted on January 1, 2010, and did not impact the Company’s results of operations, financial position or liquidity.</p>
<p style="text-align: justify;"> <b>2.2 Change in accounting estimates</b></p>
<p style="text-align: justify;"> The Company changed at the beginning of 2010, as a consequence of the periodic assessment of the expected useful lives of its assets, depreciation rates from thermoeletric power plants and facilities from Refining, Transporting and Marketing segment, based on reports prepared by independent appraisers. The changes were accounted for prospectively in accordance ASC 250 (Accounting changes and error corrections) and the Company’s results of operations were impacted by an increase of US$73, net of taxes, in the first quarter of 2010.</p>
<p style="text-align: justify;"> The table below provides the previous and the current depreciation rates as a result of the assessment:</p>
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<table style="FONT-SIZE: 9pt; WIDTH: 100%; FONT-FAMILY: ''''''''''''Times New Roman''''''''''''" cellspacing="0" border="0">
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<td width="42%"></td>
<td width="16%"></td>
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<td align="left"> </td>
<td align="left" style="border-bottom:1px solid #000000;"> </td>
<td align="center" style="border-bottom:1px solid #000000;"> Estimated useful life </td>
</tr>
<tr valign="bottom">
<td align="left"> </td>
<td align="center" style="border-bottom:1px solid #000000;"> Previous </td>
<td align="center" style="border-bottom:1px solid #000000;"> Current </td>
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<td colspan="3"> </td>
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<td align="left"> Refinery and other industrial facilities </td>
<td align="center"> 10 years </td>
<td align="center"> 4 to 31 years (average of 20 years) </td>
</tr>
<tr valign="bottom">
<td align="left"> Ducts </td>
<td align="center"> 10 years </td>
<td align="center"> 31 years </td>
</tr>
<tr valign="bottom">
<td align="left"> Tanks </td>
<td align="center"> 10 years </td>
<td align="center"> 26 years </td>
</tr>
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<td align="left"> Thermoelectric power plants </td>
<td align="center"> 20 years </td>
<td align="center"> 10 to 33.3 years (average of 23 years) </td>
</tr>
</table>
</div>
</div>
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<p style="text-align: justify;"> The Brazilian Corporate Law was amended in 2007 to permit Brazilian GAAP to converge with International Financial Reporting Standards, or "IFRS", as issued by the International Accounting Standards Board, or "IASB". The adoption of IFRS in Brazil is mandatory for the year ended December 31, 2010 and it is tax neutral in accordance with the current income tax legislation.</p>
<p style="text-align: justify;"> The Company elected to present its financial statements for local purposes for the first time in accordance with IFRS for the first quarter of 2010. The Company's financial statements prepared in accordance with U.S. GAAP were not affected by the adoption of IFRS other than dividends and profit sharing payable to our employees, which are based on net income as calculated under IFRS.</p>
</div>2. Accounting Policies
2.1 Recently Adopted Accounting Standards
a) Transfers and Servicing (ASC 860), Accounting for Transfers of Financial Assets (ASUfalsefalsefalseThis element may be used to describe all significant accounting policies of the reporting entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8
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