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Principles of Joint Interest Accounting Boot Camp

For individuals who wish to gain a broad understanding of introductory Joint Interest Accounting. This course 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.

Wednesday, June 26 – Thursday, June 27, 2024
Hilcorp at 1111 Travis Street, Houston, TX
8:00 AM – 5:00 PM

$637.50 Early Bird through Sunday, May 27
$750 after May 27
16 Hours CPE available

Registration includes course materials and a boxed lunch.  Please scroll down for a full description and learning objectives.

$637.50

Principles of Joint Interest Accounting Boot Camp

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Description

Topics Covered

  • Overview of Joint Venture
    • Operational and Financial Drivers and Types of Agreements
  • Agreements
    • Types Used in Joint Ventures & Accounting Procedure Relationship to Governing Agreement
  • Historical Perspective on COPAS Accounting Procedures
  • Dissecting a COPAS Accounting Procedure
  • Direct vs. Indirect Costs
    • Accounting Procedure Language and Proper Charging
  • Overhead
    • Development, Drilling, Production, MCO & Catastrophe
  • Materials
    • CEPS, Casing & Tubing, Controllable vs. Non-controllable
  • Special Joint Venture Adjustments
    • Non-consents, payouts, well pad adjustments
  • Allocations
    • Accounting for Costs Benefiting Multiple Properties
  • Joint Interest Billings
    • AFE and Operational Costs
  • Accounting for Joint Venture Costs
    • Key alternatives, Application

Course Objectives

Upon completion of the course, 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 accounting 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

 

If you’re not able to attend in person, please check out our Principles of Joint Interest Accounting live webinar series.

 

 

COPAS POLICIES: Complaints | Cancellation & Refund Policy

Additional information

Date / Location

June 26 & 27, 2024 in Houston, TX

Testimonials

Networking is so important. It will help with your job and career, and you will gain knowledge you can’t get sitting at a desk. The people in COPAS have mentored me, answered questions for me, and genuinely cared about me and my family.

Melissa Gruenewald
Rating: 5

COPAS has great learning opportunities, leadership opportunities, and ways to develop relationships with other accountants and oil and gas professionals. You will work hard when you get involved, but the experiences, people and benefits will be worth it.

Melissa Gruenewald
Rating: 5

For anyone searching for energy knowledge, professional industry contacts, peers with whom to discuss similar dilemmas, and access to energy experts—COPAS is the place to be!

Carolyn Sczepanski
Rating: 5
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OUR MISSION

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.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

OUR MISSION

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.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

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