'Petroleum Accounting: Principles, Procedures & Issues' by D.R. Jennings, J.B. Feiten, H.R. Brock - Download

This book focuses on United States financial accounting and reporting for petroleum exploration and production activities. 1. AN INTRODUCTION TO THE PETROLEUM INDUSTRY BASIC TERMS AND CONCEPTS AN OVERVIEW OF PETROLEUM EXPLORATION AND PRODUCTION. ACCOUNTING DILEMMAS HISTORY OF THE PETROLEUM INDUSTRY IN THE UNITED STATES STATISTICAL HISTORY OF THE PETROLEUM INDUSTRY 2. PETROLEUM ECONOMICS A FOCUS ON ADDING RESERVE VALUE PETROLEUM ECONOMICS TODAY FROM A GLOBAL PERSPECTIVE THE FRAMEWORK FOR U.S. ECONOMICS. 3. ORGANIZATION OF AN E&P COMPANY EXPLORATION DEPARTMENT. DRILLING AND PRODUCTION DEPARTMENT MARKETING DEPARTMENT. ADMINISTRATIVE DEPARTMENT. ORGANIZATION OF THE ACCOUNTING FUNCTION INFORMATION SYSTEMS GENERAL ACCOUNTING STRUCTURE OF AN INTEGRATED COMPANY OUTSIDE ORGANIZATIONS 4. ACCOUNTING PRINCIPLES FOR OIL AND GAS PRODUCING ACTIVITIES HISTORICAL BACKGROUND CLASSIFICATION OF COSTS INCURRED CAPITALIZATION OVERVIEW UNDER SUCCESSFUL EFFORTS ACCOUNTING. OVERVIEW OF AMORTIZATION UNDER SUCCESSFUL EFFORTS ACCOUNTING. CHART OF ACCOUNTS. ANALYSIS OF ACCOUNTS FOR SUCCESSFUL EFFORTS ACCOUNTING. OVERVIEW OF FULL COST ACCOUNTING OVERVIEW OF INCOME TAX ACCOUNTING 5. GEOLOGICAL AND GEOPHYSICAL EXPLORATION. THE NATURE OF EXPLORATION COSTS ORIGIN OF PETROLEUM MIGRATION AND TRAPPING OF HYDROCARBONS GEOLOGICAL AND GEOPHYSICAL EXPLORATION METHODS 6. ACCOUNTING FOR EXPLORATION COSTS ACCOUNTS AND SUBACCOUNTS FOR EXPLORATION EXPENSE SPECIAL PROBLEM AREAS IN ACCOUNTING FOR EXPLORATION COSTS. 7. UNPROVED PROPERTY ACQUISITION, RETENTION, AND SURRENDER. THE LEASE CONTRACT. OPERATING AND NONOPERATING MINERAL INTERESTS GENERAL LEDGER ACCOUNTS FOR UNPROVED MINERAL INTERESTS ACCOUNTING FOR UNPROVED MINERAL LEASEHOLD ACQUISITIONS ACCOUNTING FOR MAINTENANCE AND CARRYING COSTS OF UNPROVED PROPERTIES ACCOUNTING FOR IMPAIRMENT AND ABANDONMENT OF UNPROVED LEASES TOP LEASES AND LEASE RENEWALS TAX TREATMENT OF UNPROVED PROPERTY ACQUISITION, MAINTENANCE, AND ABANDONMENT COSTS SPECIAL NONOPERATING INTERESTS CREATED OUT OF THE WORKING INTEREST 8. DRILLING AND DEVELOPMENT. PREPARING FOR DRILLING DRILLING CONTRACTS THE DRILLING PROCESS. COMPLETING THE WELL DEVELOPMENT OF THE RESERVOIR WELL COSTS 9. ACCOUNTING FOR COSTS INCURRED IN DRILLING AND EQUIPPING OIL AND GAS PROPERTIES SUCCESSFUL EFFORTS ACCOUNTING FOR EXPLORATORY WELL COSTS. FULL COST ACCOUNTING FOR EXPLORATORY WELL COSTS SUCCESSFUL EFFORTS ACCOUNTING FOR DEVELOPMENT WELL COSTS. FULL COST ACCOUNTING FOR DEVELOPMENT WELL COSTS SPECIAL PROBLEMS IN ACCOUNTING FOR DRILLING AND DEVELOPMENT AFE SYSTEM FOR DRILLING AND DEVELOPMENT 10. ACCOUNTING FOR JOINT OPERATIONS LEGAL FORMS OF JOINT ACTIVITIES JOINT VENTURES JOINT VENTURE AGREEMENTS THE JOINT OPERATING AGREEMENT (JOA). ACCOUNTING PROCEDURE PROVISIONS OF JOINT OPERATING AGREEMENTS. RECORDING JOINT INTEREST TRANSACTIONS MATERIAL TRANSFERS. JOINT INTEREST AUDITS ELECTRONIC DATA INTERCHANGE (EDI) E-COMMERCE 11. PRODUCTION AND VOLUME MEASUREMENT PLACING THE WELL ON PRODUCTION MEASURING VOLUMES OF OIL AND GAS. GAS PROCESSING 12. MARKETING crude OIL, NATURAL GAS, and NGL CRUDE OIL MARKETING. NATURAL GAS MARKETING NATURAL GAS LIQUIDS MARKETING 13. ACCOUNTING FOR OIL, GAS, AND NGL SALES INTRODUCTION SOME GENERAL ISSUES PRODUCTION TAXES AND AD VALOREM TAXES ACCOUNTING FOR OIL SALES. ACCOUNTING FOR NATURAL GAS SALES ACCOUNTING FOR RESIDUE GAS AND NGL SALES SPECIAL ROYALTY PROVISIONS ACCOUNTING FOR REINJECTED GAS 14. GAS IMBALANCES INTRODUCTION PIPELINE GAS IMBALANCES PRODUCER GAS IMBALANCES 15. PRODUCTION COSTS PRODUCTION COSTS DEFINED ACCOUNTING FOR PRODUCTION COSTS 16. OIL AND GAS RESERVES. INTRODUCTION GENERAL DEFINITIONS AND CATEGORIES PROVED RESERVE CLASSIFICATIONS. RESERVE ESTIMATION 17. DEPRECIATION, DEPLETION, AND AMORTIZATION (DD&A) UNDER THE SUCCESSFUL EFFORTS METHOD. GENERAL PRINCIPLES OF AMORTIZATION JOINT PRODUCTION OF OIL AND GAS. 18. ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS OVERVIEW APPLICATION ISSUES 19. THE FULL COST ACCOUNTING METHOD. THE COST CENTER. COSTS TO BE CAPITALIZED. AMORTIZATION OF CAPITALIZED COSTS INTEREST CAPITALIZATION LIMITATION ON CAPITALIZED COSTS MINERAL CONVEYANCES AND PROMOTIONAL ACTIVITIES 20. ASSET RETIREMENT OBLIGATIONS. REGULATORY AND OPERATIONAL ENVIRONMENT CURRENT ACCOUNTING. EXPOSURE DRAFT ON ASSET RETIREMENT OBLIGATIONS 21. ACCOUNTING FOR CONVEYANCES GENERAL PRINCIPLES OF ACCOUNTING FOR CONVEYANCES. SALES AND SUBLEASES OF UNPROVED MINERAL INTERESTS SALES OF PROVED PROPERTIES. RETIREMENT OF PROVED PROPERTIES SALES AND ABANDONMENTS UNDER THE FULL COST METHOD ACQUISITIONS OF E & P PROPERTY. BUSINESS COMBINATIONS OVERRIDING ROYALTY CONVEYANCES GENERAL TAX TREATMENT OF SALES AND LEASES 22. PRODUCTION PAYMENTS AND NET PROFITS INTERESTS ACCOUNTING BASED ON THE ATTRIBUTES OF OWNERSHIP PRODUCTION PAYMENTS NET PROFITS INTEREST ACCOUNTING RULES FOR OTHER PROPERTY CONVEYANCES FULL COST ACCOUNTING TAX ACCOUNTING. 23. FARMOUTS, CARRIED INTERESTS, AND UNITIZATIONS FARMOUTS. FREE WELLS. CARRIED INTERESTS PROMOTED VS. PROMOTING. UNITIZATIONS. CREATION OF JOINT VENTURES. FULL COST ACCOUNTING TAX ACCOUNTING. 24. ACCOUNTING FOR PARTNERSHIP INTERESTS GENERAL PARTNERSHIPS LIMITED PARTNERSHIPS TRANSACTIONS BETWEEN THE PARTNER AND THE PARTNERSHIP 1 MASTER LIMITED PARTNERSHIPS 25. ACCOUNTING FOR INTERNATIONAL OPERATIONS RISKS OF INTERNATIONAL E & P FORMS OF OPERATION IN A FOREIGN COUNTRY INTRODUCTION TO FISCAL SYSTEMS. CONCESSIONS CONTRACTUAL ARRANGEMENTS OTHER ACCOUNTING MATTERS UNIQUE TO INTERNATIONAL OPERATIONS. MISCELLANEOUS ISSUES 26. BASIC E & P INCOME TAX RULES OVERVIEW OF U.S. TAX ON OIL AND GAS THE OIL AND GAS PROPERTY ECONOMIC INTEREST LEASEHOLD. GEOLOGICAL AND GEOPHYSICAL COSTS DEVELOPMENT COSTS DEPLETION SHARING ARRANGEMENTS LOSS LIMITATIONS ALTERNATIVE MINMUM TAX. FORMS OF ORGANIZATION INCOME TAX CREDITS 27. ACCOUNTING FOR INCOME TAXES IDENTIFYING TYPES AND AMOUNTS OF TEMPORARY DIFFERENCES. FRAGMENTING TEMPORARY DIFFERENCES. MEASURING TAX EFFECTS OF TEMPORARY DIFFERENCES ASSESSING NEED FOR A VALUATION ALLOWANCE DETERMINING FINANCIAL STATEMENT PRESENTATION MAKING FINANCIAL STATEMENT DISCLOSURES OTHER CONSIDERATIONS 28. NONVALUE DISCLOSURES ABOUT OIL AND GAS PRODUCING ACTIVITIES. HISTORY OF DISCLOSURE REQUIREMENTS OVERVIEW OF DISCLOSURES FAS 69 NONVALUE DISCLOSURES AND RELATED SEC RULES SPECIAL DISCLOSURES FOR COMPANIES USING FULL COST OTHER SEC DISCLOSURES REQUIREMENTS 29. VALUE BASED DISCLOSURES DISCLOSURE RULES. SMOG COMPUTATION EXAMPLE COMBINED SMOG DISCLOSURE, FIELD NO. 1 AND FIELD NO. 2, AS OF 12/31/00 YEAR-END PRICING USEFULNESS OF THE DISCLOSURES 30. VALUATION OF PROVED OIL AND GAS PROPERTIES. GENERAL VALUATION CONCEPTS VALUATION METHODS FOR PROVED OIL AND GAS PROPERTIES. 31. OFFSHORE OPERATIONS AND ENHANCED RECOVERY. OFFSHORE OPERATIONS. ENHANCED RECOVERY 32. DERIVATIVES AND HEDGE ACCOUNTING BACKGROUND. COMMON TYPES OF COMMODITY-BASED DERIVATIVE INSTRUMENTS USES OF DERIVATIVES IN THE ENERGY INDUSTRY RISKS ASSOCIATED WITH DERIVATIVES. ACCOUNTING GUIDANCE. INTERNAL CONTROLS. 33. RISK MANAGEMENT RISK RISK MANAGEMENT - INTERNAL CONTROL AND MORE. IMPORTANCE OF RISK MANAGEMENT TO THE E&P INDUSTRY IMPACT OF RISK MANAGEMENT ON PETROLEUM ACCOUNTING. APPENDIX 1: REGULATION S-X RULE 4-10 APPENDIX 2: SEC STAFF ACCOUNTING BULLETINS, TOPIC 12 APPENDIX 3: FASB CURRENT TEXT SECTION 0I5, OIL AND GAS PRODUCING ACTIVITIES APPENDIX 4: ILLUSTRATIVE E&P FINANCIAL STATEMENTS AND SUPPLEMENTAL DISCLOSURES. APPENDIX 5: ILLUSTRATIVE CHART OF ACCOUNTS APPENDIX 6: MMS LEASING FORM. APPENDIX 7: TEXAS OFFSHORE LEASING FORM. APPENDIX 8: ILLUSTRATIVE DAY RATE DRILLING CONTRACT APPENDIX 9: A.A.P.L. FORM 610-1989 MODEL FORM OPERATING AGREEMENT APPENDIX 10: COPAS ACCOUNTING PROCEDURE EXHIBIT APPENDIX 11: OTHER REFERENCE SOURCES. GLOSSARY INDEX

Referred by: