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Principles of Revenue Accounting Boot Camp

  • June 26th & 27th in Denver, COAugust 28th & 29th in Houston, TX
  • Basic
  • Group Live
  • None
  • None
  • Accounting
  • Salomon Tristan
  • 16H CPE credit

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 (CPA and Non-CPA), lawyers, community leaders, and the general public.

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$650 $520

Course Content

This course covers the following topics:

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

Learning Objectives

Upon completion of this course, you will be able to:

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

 

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