MFI-1 1962 Model Form Accounting Procedure Interpretation

This document provides recommendations to aid in the interpretation and application of the 1962 Model Form so there can be a common ground of understanding in negotiations. Users will read detailed recommendations and explanations for the five major sections of the accounting procedure: General Provisions: Direct Charges, Indirect Charges, Basis for Charges to Joint Account, and Disposal of Material.  26 pages. Pub 1966.

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Table of Contents

  1. Foreword
  2. Specimen, Form 601 COPAS
  3. General Provisions
    1. Statements and Billings
    2. Payments and Advances By Non-Operators
    3. Adjustments
    4. Audits
  4. Direct Charges
    1. Labor
    2. Employee Benefits
    3. Transportation
    4. Damages and Losses to Joint Property
    5. Legal Expenses
    6. Insurance Premiums
  5. Indirect Charges
    1. District Expense
    2. Administrative Overhead
    3. Operator’s Fully Owned Warehouse Operating and Maintenance Expense
    4. Combined Fixed Rates
    5. Construction Overhead
  6. Basis of Charges to Joint Account
    1. Materials Furnished from Operator’s Warehouse or Other Properties
    2. Equipment and Facilities Furnished by Operator
  7. Disposal of Material
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