MFI-58 2022 Model Form Accounting Procedure Interpretation
This document provides recommendations to aid in the interpretation and application of the COPAS 2022 Model Form so there can be a common ground of understanding in negotiations. Users will read detailed recommendations and explanations for all five major sections of the accounting procedure: General Provisions, Direct Charges, Overhead, Material Purchases Transfers & Dispositions, and Inventories of Controllable Material. 85 pages. 2022.
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Description
Table of Contents
FOREWORD
INSTRUCTIONS FOR COMPLETING
ACCOUNTING PROCEDURE
I. GENERAL PROVISIONS
1. DEFINITIONS
2. STATEMENTS AND BILLINGS
3. ADVANCES AND PAYMENTS
4. ADJUSTMENTS
5. EXPENDITURE AUDITS
6. APPROVAL BY PARTIES
II. DIRECT CHARGES
1. RENTALS AND ROYALTIES
2. LABOR
3. MATERIAL
4. TRANSPORTATION
5. SERVICES
6. EQUIPMENT AND FACILITIES FURNISHED BY OPERATOR
7. AFFILIATES
8. DAMAGES AND LOSSES TO JOINT PROPERTY
9. LEGAL EXPENSE
10. TAXES, PERMITS AND STATUTORY FEES
11. INSURANCE
12. COMMUNICATIONS
13. HEALTH, SAFETY AND ENVIRONMENT
14. OTHER EXPENDITURES
III. OVERHEAD
1. OVERHEAD—DRILLING AND PRODUCING OPERATIONS
2. OVERHEAD—MAJOR CONSTRUCTION AND CATASTROPHE
3. OVERHEAD – ENVIRONMENTAL PROJECT
4. AMENDMENT OF OVERHEAD RATES
IV. MATERIAL PURCHASES, TRANSFERS, AND DISPOSITIONS
1. DIRECT PURCHASES
2. TRANSFERS
3. DISPOSITION OF SURPLUS
4. SPECIAL PRICING PROVISIONS
V. INVENTORIES OF CONTROLLABLE MATERIAL
1. DIRECTED INVENTORIES
2. NON-DIRECTED INVENTORIES
INTEPRETATION
I. GENERAL PROVISIONS
1. DEFINITIONS
2. STATEMENTS AND BILLINGS
3. ADVANCES AND PAYMENTS
4. ADJUSTMENTS
5. EXPENDITURE AUDITS
6. APPROVAL BY PARTIES
II. DIRECT CHARGES
1. RENTALS AND ROYALTIES
2. LABOR
3. MATERIAL
4. TRANSPORTATION
5. SERVICES
6. EQUIPMENT AND FACILITIES FURNISHED BY OPERATOR
7. AFFILIATES
8. DAMAGES AND LOSSES TO JOINT PROPERTY
9. LEGAL EXPENSE
10. TAXES, PERMITS AND STATUTORY FEES
11. INSURANCE
12. COMMUNICATIONS
13. HEALTH, SAFETY AND ENVIRONMENT
14. OTHER EXPENDITURES
III. OVERHEAD
1. OVERHEAD—DRILLING AND PRODUCING OPERATIONS
2. OVERHEAD—MAJOR CONSTRUCTION AND CATASTROPHE
3. OVERHEAD – ENVIRONMENTAL PROJECT
4. AMENDMENT OF OVERHEAD RATES
IV. MATERIAL PURCHASES, TRANSFERS, AND DISPOSITIONS
1. DIRECT PURCHASES
2. TRANSFERS
3. DISPOSITION OF SURPLUS
4. SPECIAL PRICING PROVISIONS
V. INVENTORIES OF CONTROLLABLE MATERIAL
1. DIRECTED INVENTORIES
2. NON-DIRECTED INVENTORIES
COPAS POLICIES: Complaints | Cancellation & Refund Policy
Additional information
| Weight | 4.0000000035274 oz |
|---|---|
| Dimensions | 11 × 8.5 × 0.025 in |
| Format | Digital, Printed |
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