MFI-21 Overhead Principles

This document provides guidance as to the difference between Indirect Costs (covered by overhead) and Direct Costs and provides an overview of Overhead provisions specific to each Model Form to increase awareness regarding the implications and consequences associated with various Overhead options.  The document includes detailed discussions of District Expense, Administrative overhead, Warehousing, First Level Supervision, Technical Labor, Personal Expenses, Major Construction, Catastrophe, and Project Team Overhead, and several other areas whe

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MFI-21 Overhead Principles.pdf

MFI-21 Overhead Principles.pdf
Description

This document provides guidance as to the difference between Indirect Costs (covered by overhead) and Direct Costs and provides an overview of Overhead provisions specific to each Model Form to increase awareness regarding the implications and consequences associated with various Overhead options.  The document includes detailed discussions of District Expense, Administrative overhead, Warehousing, First Level Supervision, Technical Labor, Personal Expenses, Major Construction, Catastrophe, and Project Team Overhead, and several other areas where confusion has existed. 41 pages. Rev. 2002

Includes the Addendum 1 - MFI-21 AD-1 Overhead – Joint Operations, 2005 Accounting Procedure

 

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COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

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COPAS
445 Union Blvd., Suite 207
Lakewood, CO 80228
Tel: 303-300-1131


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