Oil and Gas Accounting ON DEMAND
Available Until
Your Desk
9.0 Credits
Member Price $261.00
Non-Member Price $300.00
Overview
This course takes a close look at the intricate world of oil and gas accounting, designed to equip you with the skills and knowledge to navigate this specialized industry confidently. Our course covers a wide array of topics, including the successful efforts and full cost methods, reserve reporting, unit of production method, severance taxes, and joint interest accounting. These topics are crucial for understanding the unique accounting issues in the oil and gas industry. By understanding the different steps in exploring, developing, and producing oil and gas properties, you’ll be better positioned to handle the complex accounting requirements of this sector. This course also provides a detailed look at various cost classifications, production costs, and the documentation and accounting processes involved in oil and gas operations. With this comprehensive exploration of oil and gas accounting considerations, you’ll be able to effectively manage and report on the financial aspects of energy operations, enhancing your credibility and expertise in this niche but critical industry.
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, 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