Description

This series of webinars is for individuals who wish to gain a broad understanding of introductory Joint Interest Accounting.  It is suitable for petroleum industry new hires, business professionals, investment advisors, analysts, regulators, government employees, accountants, lawyers, community leaders, and the general public. Experienced attendees have found the course helps define Joint Interest Accounting as it pertains to their specialty area.  Please note questions in this accounting series may require access to a calculator.

Learning Objectives for Full Series:

Upon completion of this webinar series, you will be able to:

1. Identify and explain key joint interest agreements and ownerships
2. Analyze the different agreements for joint ventures in the oil and gas industry
3. Evaluate the major provisions of COPAS Accounting Procedures and how such accounting procedures have evolved over time
4. Apply concepts to properly analyze and account for costs onto a joint interest invoice
5. Explain the differences between direct and indirect costs and their effect on JI billing
6. Demonstrate the differences and procedures for overhead calculations with respect to various COPAS accounting procedures
7. Determine tangible equipment pricing in relation to accounting and reconciliation procedures to identify charges to the joint venture
8. Recognize unique joint interest account situations and apply concepts learned in determining when special JV adjustments apply
9. Explain key accounting alternatives to allocate costs to multiple joint ventures
10. Identify the proper accounting entries for various joint venture transactions
11. Apply key accounting controls to ensure financial and accounting control over transactions

The webinar consists of 12 individual webinars. Click on a title below to purchase an individual webinar or view a webinar’s full description.

Webinar 1 January 10, 2024 – Overview of Joint Ventures
Webinar 2 February 14, 2024 – Agreements
Webinar 3 March 13, 2024 – Historical Perspective on COPAS Accounting Procedures
Webinar 4 April 10, 2024 – Dissecting a COPAS Accounting Procedure I
Webinar 5 May 15, 2024 – Dissecting a COPAS Accounting Procedure II
Webinar 6 June 12, 2024 – Direct vs. Indirect Costs
Webinar 7 July 10, 2024 – Overhead
Webinar 8 August 14, 2024 – Materials
Webinar 9 September 11, 2024 – Special Joint Venture Adjustments
Webinar 10 October 16, 2024 – Allocations
Webinar 11 November 13, 2024 – Joint Interest Billings
Webinar 12 December 4, 2024 – Accounting for Joint Venture Costs