Accounting Guidelines

Showing all 25 results

  • AG-1 Well Cost Allocations and Adjustments

    Provides a guide to an equitable basis for determination of values to be used with well cost adjustments required as a result of ownership changes occurring as a result of expansion or contraction of a unit, recompletion of a well, multiple completions, completion of a well in a zone of different ownership, or creation of a field wide or reservoir unit. 27 pages. Revised April 2003.  

    Clear
    $45
  • AG-2 Unitization Accounting

    AG-2 explains different forms of unitizations common in the industry and outlines the accounting generally associated with each. AG-2 can be used as a guide for accounting situations involved in Unit Operations which are not covered in an existing agreement or accounting procedure.  34 pages. Pub. 1971  

    Clear
    $45
  • AG-3 Alaska Net Profit Share Leasing

    The State of Alaska Net Profit Share Lease (NPSL) System is an integral part of the seven leasing methods currently provided for by state law. This monograph explains the provisions and provides guidance for companies working with this form of royalty. 62 pages. 1984.

    Clear
    $45
  • AG-4 Proforma Facility Rate Agreement

    This publication presents a methodology for calculating rates for use of operator owned equipment and facilities charged to the Joint Account.  It also suggests possible agreement language to be used. 35 pages. 1985.

    Clear
    $45
  • AG-6 Oil Accounting Manual

    This is COPAS' comprehensive guide to accounting for oil, and complements AG-15, Gas Accounting Manual.  This publication provides generally accepted practices for oil allocations and related revenue accounting.  It is intended to be of assistance to accountants and oil producers in establishing or revising oil accounting procedures and in training new personnel.  104 pages. Rev. October 2012

    Clear
    $75
  • Clear
    $45
  • Clear
    $45
  • Clear
    $75
  • AG-9 Vendor Audits

    This publication provides guidance with respect to vendor audits in the petroleum industry. Included are discussions of the purpose, objectives and benefits of vendor audits as well as an audit program template the auditor can use in developing and preparing for an audit. 10 pages. 2010.

    Clear
    $60
  • AG-10 Investigations Of Suspected Irregularities

    This publication results from a joint project of COPAS and the Institute of Internal Auditors.  It goes beyond the normal financial and operational review and offers guidelines for the investigation of irregularities to safeguard company assets.   29 pages. Pub. 1990.

    Clear
    $45
  • AG-11 Internal Audits of Exploration and Producing Divisions

    This publication results from a joint project of COPAS and the Institute of Internal Auditors, and provides guidelines in conducting an operating review of a company's exploration and production Divisions.  These divisions represent the heart of an oil and gas company and are normally where the major dollars are expended.  Internal reviews of such divisions, as well as those of the billing and payable functions can detect internal control weaknesses and can result in savings of significant dollars.  24 pages. Pub. 1990.

    Clear
    $45
  • AG-12 Determining Finding, Development, and Acquisition Costs

    Exploration and Production Companies are required to report finding / acquisition costs in accordance with Statement of Financial Accounting Standards (SFAS 69) and in form 10K. However, few companies use these standards for computing these costs for internal purposes. This publication explains the various other methods and their applicability to certain situations. 23 pages. 2011.

    Clear
    $60
  • AG-13 Accounting for Farmouts Farmins Net Profits Interests and Carried Interests

    Joint development of oil and gas properties can be conducted under a number of different types of agreements. This Accounting Guideline explains three of these types of agreements and identifies unusual or unique contractural provisions found in each of these arrangements. This document also provides guidelines for the accounting and cost reporting normally required for these operations.  Many of these agreements involve various payout calculations, and this document provide guidance and numerous examples on the complexities involved in calculating the most accurate payout, based on complex circumstances.  44 pages.  2005.

    Clear
    $45
  • AG-15 Gas Accounting Manual

    This is a must have document for anyone involved in natural gas accounting.  The purpose of the Gas Accounting Manual is to provide a vital reference for any accountant and others responsible for proper recording and reporting of natural gas from the wellhead to the point of sale and all related areas.   Various areas addressed by AG-15 include production, measurement, processing, transportation, sales, settlements, regulatory compliance as well as a history of regulatory compliance. 314 pages.  2010.

    Clear
    $75
  • AG-16 Internal Audits of Gas Plants

    Gas plant audits are among the most challenging, important and productive reviews an audit staff can perform. Plant designs and operating modes vary in the industry and require many different types of contractual relationships. This document will aid in performing these audits.  19 pages. 1995.

    Clear
    $45
  • AG-17 Refining And Marketing Exchange Accounting

    This document establishes guidelines on how exchange companies should provide one another with information required to efficiently account for and reconcile exchange transactions. This serves as an information resource and establishes recommended accounting practices and procedures for petroleum product exchanges.  47 Pages.  1996.

    Clear
    $45
  • AG-18 Revenue Variance Analysis

    This guideline provides formulas useful in determining revenue variances including the following basic formulas: Price Variance = (New Price - Base Price) x New Volume; Volume Variance = (New Volume - Base Volume) x Base Price. It also provides helpful information on the types of variables that may affect operating revenue as well as examples of other areas of application for variance analysis (e.g., analyzing variable operating expenses).  11 pages.  1996.

    Clear
    $45
  • AG-19 Expenditure Audit Protocols

    A comprehensive guide to the suggested protocol and the planning, initiating and arranging the audit, conducting the audit from commencement to close, writing the report, handling of the audit costs, as well as the operator's role in each phase of the audit.  The Audit Protocol section includes points to consider regarding the various parties' roles in initiating and preparing for the audit, conducting the audit, and audit resolution.  The Procedure Guidelines portion includes guidelines regarding the establishment of audit scope, preliminary audit work, establishment of an audit program, writing the audit report, and audit cost sharing among audit participants.  Also included is a sample audit program and templates for balloting, exceptions, and transmittal letters.  56 pages. Rev 2017.  (formerly known as Bulletin 3) Includes AD-1 Electronic Media in Expenditure Audits.

    Clear
    $60
  • AG-20 Extrapolated Sales and Use Tax Audit Assessments

    This publication is recommended as a guide in accounting for the allocation of sales and use tax charges/credits resulting from audits by governmental or regulatory agencies utilizing extrapolation procedures.  Government sales and use tax audits frequently use sampling and extrapolation techniques in lieu of auditing an entire population of invoices. The resulting settlement or negotiation of such audit claims is not easily identified with specific properties or operations.  This Guideline provides for an equitable method of allocating, to all properties impacted, the additional costs incurred or credits received as a result of extrapolated sales and use tax audit claims should the operator decide such amounts are chargeable to its non-operators.  11 pages.  2001.

    Clear
    $45
  • AG-21 Revenue Audit Protocols

    This is the companion document to the AG-19, Expenditure Audits in the Petroleum Industry: Protocol and Procedures Guidelines and addresses protocol and procedures for revenue audits.  Revenue audits are not specifically addressed in existing COPAS Accounting Procedures, except in the 2005 Model Form as relating to payout audits.  The only mention of revenues in most joint venture contracts is in the provision of the Operating Agreement relating to the right to take production in-kind, or in a gas balancing agreement associated with the Joint Operating Agreement. 32 pages. Rev. 1985.

    Clear
    $60
  • AG-22 Producer Gas Imbalances

    This document provides an historical perspective on the reasons for gas imbalances and recommends guidelines necessary to properly identify, reconcile, report, and resolve imbalances among producers. This report was issued in conjunction with the efforts of the INGAA/COPAS/A.G.A. Joint Task Force related to spot and direct gas sales.  111 pages.  2001.

    Clear
    $45
  • AG-23 Overhead Rate Negotiation & Calculation

    This publication provides guidance on developing an overhead rate, including what questions to consider, which functions or cost categories to include in the rate and how to negotiate that rate with the other working interest owners.  40 Pages. 2001.

    Clear
    $45
  • AG-24 Notifying Non Operators of Accounting Procedure Deviations

    This document provides guidelines on how to use the Authorization for Expenditure (AFE) approval process or other project proposal process to secure Non-Operator approval to directly charge the Joint Account for costs or services that in the absence of such approval may be considered as covered by Overhead pursuant to the governing Accounting Procedure and/or Operating Agreement.  4 pages. 2001.

    Clear
    $60
  • AG-28 Real Time Operations Centers

    This document serves as a reference for operators who utilize remote advanced technology for drilling and completion operations. It is recommended as a guide in (1) identifying accounting treatment options related to those costs, (2) options for securing approvals, if needed, from Non-Operators to pass on costs to the joint account, (3) analysis of the functions and cost components in order to develop an allocation basis, and (4) examples on how costs can be allocated to the properties served. 21 pages.  2008.

    Clear
    $60
  • AG-29 Shared Well Pad Cost Allocations

    This publication discusses the types of costs associated with well pads that are shared by multiple wells and the concepts that should be considered when allocating those costs. The narrative includes the impact of the 24-month adjustment period, as well as aids in determining which costs should be shared with all wells or subset of wells on the pad vs. costs that are well specific and should not be shared. Allocation examples are provided to illustrate the application of the concepts discussed. 14 pages.  2013.

    Clear
    $60

Showing all 25 results