And The APA®
The Council of Petroleum Accountants Societies, Inc. (COPAS) was established in 1961 by representatives from various independent local societies throughout the U.S. and Western Canada. In accordance with COPAS’ mission to provide expertise for the oil and gas industry through the development of accounting procedures, publications and education, COPAS initiated the Accredited Petroleum Accountant® (APA®) certification program in 1996. Its purpose is to certify accountants within the oil and gas industry and to ensure that practicing petroleum accountants are proficient in the basic elements of knowledge essential for oil and gas accounting.
In 1996, the original design of the program was a series of eight knowledge-based exams covering the areas of Operations, Law, Financial Reporting, Audit, Joint Interest, Managerial Accounting, Tax, and Revenue. A job analysis study was performed in 2014 to enhance the benefits of the credential to the oil and gas accounting profession by ensuring that the exam was assessing the key knowledge required by practicing petroleum accountants. The results of that study resulted in the development of a single certification exam (effective January 1, 2016) covering five content domains that were determined to be essential for competent practice as a petroleum accountant.
- Fundamentals of Oil and Gas Accounting
- General Accounting
- Upstream
- Midstream
- Downstream
An APA® Credential
The Accredited Petroleum Accountant® Certification is a unique credential among other accounting certifications. While the Petroleum Accountant needs the basic concepts and understanding of all accounting matters, the petroleum industry operates under unique guidelines and principles. In preparing for and earning the APA® credential, the accountant will be exposed to all facets of the petroleum industry and achieve or exceed the knowledge required for competent practice as a petroleum accountant.
The APA® certified professional is equipped with knowledge and understanding of the industry and petroleum accounting sufficient to excel in job performance and provide a heightened level of accuracy and ethics in performance of tasks. The APA® designation should be a required element for employee selection, promotion, and retention in the petroleum industry.
The APA® Certification and trademark are owned by COPAS. COPAS membership is not a requirement to take the exam or to retain the credential.
This APA® Certification Candidate Handbook covers the requirements and processes necessary to earn and maintain the APA® certification.
A professional certification like the APA® credential offers candidates the opportunity to validate their knowledge and skills and communicates to employers, the public, and other stakeholders that certificate holders have met the requirements for competent practice in the Petroleum Accounting profession. Professional certifications are earned by meeting several important criteria:
- Demonstrating a specified level of work experience and/or education
- Passing a certification exam
- Meeting annual continuing education and certification maintenance requirements
To earn the APA® certification, candidates must first meet the eligibility requirements for education and/or work experience, and must then register for, take and pass the APA® certification examination. The APA® certification is valid for one (1) year, and must be renewed by participating in the specified number of continuing education hours and paying applicable renewal fees as specified in the section “Maintaining your APA® Certification.”
The APA® credential program does not discriminate against any individual on the basis of religion, gender, sexual orientation, ethnic background, age, national origin, or physical disability.
To register for and take the APA® certification exam, a candidate must meet ONE of the following requirements:
- Hold a four (4)-year degree with a minimum of twelve (12) credit hours in Accounting and one (1) year of oil and gas industry work experience; OR
- Have five (5) years of oil and gas industry work experience.
The exam application will include a Work Experience Verification Form to provide the candidate’s Employer(s), job title, job duties, Supervisor(s), and their contact information, including phone numbers and email addresses. Documentation of Educational Requirements may be satisfied with a photocopy of the candidate’s transcript and diploma.
NOTE: If the candidate has an International Degree, evidence of equivalent academic credentials will be considered on a case-by-case basis.