Oil and Gas Accounting ON DEMAND
Available Until
Your Desk
9.0 Credits
Member Price $261.00
Non-Member Price $300.00
Overview
Oil and gas operations have some of the most unique accounting issues found in any industry. This course delves into acquisition, exploration, development, and production activities, covering many industry-specific accounting issues. Topics covered include the successful efforts method, full cost method, reserve reporting, the unit of production method, severance taxes, take-or-pay arrangements, transfers of mineral interests, and joint interest accounting, as well as industry-specific controls that should be installed. This course is the essential oil and gas desk reference for the accountant.
Highlights
Oil and Gas Operations. Oil and Gas Accounting. Successful Efforts Method. Full Cost Method. Depreciation, Depletion, and Amortization. Accounting for Production Costs. Revenue Accounting Reserve Reporting Transfers of mineral Interests. Joint Interest Accounting. Interest Capitalization. Asset Retirement and Environmental Obligations. Asset Impairment. Oil and Gas Disclosures. IFRS Accounting for Oil and Gas. Accounting Controls.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Recognize the various steps in the process of exploring for, developing, and producing on an oil and gas property. Identify the different types of wells. Identify the documentation used to record produced oil and gas. Recognize the contents of a lease arrangement. Define the different cost classifications associated with oil and gas activities. Recognize the various types of production costs. Describe the situations in which a joint operating agreement is used. Define the contents of a lease database, and more.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $300.00
Member Price $261.00