Rev Boot CampCOPAS Energy Education 

Principles of Revenue Accounting: Boot Camp

January 29 - January 30, 2018 | 8:00 a.m. to 5:00 p.m.

Weaver
12221 Merit Drive
Dallas, TX

Register at the bottom of this page.

Program Level: Basic                           Delivery Group: Live

CPE Credits: 16                                    Prerequisites: None

Advance Prep: None                            Field of Study: Accounting

Instructor: Salomon Tristan                          

Cost: $650  $520 Early Bird Rate through December 31

Refreshments and lunch will be provided.

Description: This course is designed for individuals who wish to gain a basic Revenue Accounting understanding. It is suitable for petroleum industry new hires, business professionals, investment advisors, analysts, regulators, government employees, accountants, lawyers, community leaders, and the general public.

This course covers the following topics:

  • Industry History and Value Chain
    • History, Exploration, and Petroleum Products
  • Oilfield Operations and Production Accounting
    • Production, Flow, Measurement, and Quality
  • Oil Lease Sales Accounting
    • Contracts, Volumetric Data, and Oil Pricing
  • Oil Off-Lease Sale Accounting
    • Off-Lease Contracts, Pricing, Transportation and Downstream Requirements
  • Gas Operations Production Accounting
    • Production, Processes, Gas Types and Measurement
  • Gas Lease Sales Accounting
    • Contracts, Pricing, Volumetric Data, and Accounting Entries
  • Gas Off-lease Sales Accounting
    • Contracts, Transportation, Nominations, Net-back Pricing, and Sales Entries
  • Gas Plant Accounting
    • Processing, NGLs, Contract Types, Gas Allocation, and Accounting Entries
  • Producer and Pipeline Imbalances
    • Statements and Settlements
  • Production and Severance Taxes
    • Deductions, State Differences, Tax Incentives, and Tax Audits
  • Private and State Federal Royalties
    • State Royalty Payments and ONRR Payments
  • Check Stub Processing
    • Processing Checks, Operator Questions, and Data Verification
  • Revenue Accountant Relationships
    • Data Needs, Inter-departmental Relationships, Partners and Working with Purchasers
  • Variance Analysis Analytics
    • Close Activities, Variance Analysis Process, Reconciliations, and Period Adjustments

Objectives: Upon completion of the course, you will be able to:

  • Describe the upstream oil and gas industry
  • Recognize past and current market regulation
  • Describe the critical role of the revenue accountant
  • Describe production processes of oil and gas products and by-products
  • Recall various product measurement approaches, standards and product allocation methods
  • Explain, interpret and execute the various types of lease agreements and provisions
  • Apply the sales and entitlement methods of accounting
  • Prepare complete accounting entries for common dispositions

 

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 CPE SponsorCouncil of Petroleum Accountants Societies (COPAS), Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

 

Registration Type: Principles of Revenue Accounting: Boot Camp
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