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- 9:00 CST
- Basic
- Accounting
- Group Internet Based
- Salomon Tristan
- 16 CPE
REVBC-WEB Principles of Revenue Accounting Boot Camp: Virtual Classroom
The goal of our Principles of Revenue Accounting Boot Camp is to equip students with the foundational knowledge they need to get a solid grasp of industry-focused revenue accounting procedures. This course is designed to deliver engaging, relevant education to those new to the oil and gas arena and is also recommended for anyone who needs a refresher, and experienced accountants changing specialty focus into the revenue area.
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- List Item #2
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- 9:00 CST
- Basic
- Accounting
- Group Internet Based
- Salomon Tristan
- 16 CPE
Description
Course Content
This course covers the following topics:
- Industry History and Value Chain
- History
- Exploration
- Petroleum Products
- Oilfield Operations and Production Accounting
- Production
- Flow
- Measurement
- Quality
- Oil Lease Sales Accounting
- Contracts
- Volumetric Data
- Oil Pricing
- Oil Off-lease Sales Accounting
- Off-lease Contracts
- Pricing
- Transportation and Downstream Requirements
- Gas Operations Production Accounting
- Production and Processes
- Gas Types and Measurement
- Gas Lease Sales Accounting
- Contracts and Pricing
- Volumetric Data
- Accounting Entries
- Gas Off-lease Sales Accounting
- Contracts
- Transportation
- Nominations
- Net-back Pricing
- Sales Entries
- Gas Plant Accounting
- Processing
- NGLs
- Contract types
- Gas Allocation
- Accounting Entries
- Producer and Pipeline Imbalances
- Statements and Settlements
- Production and Severance Taxes
- Deductions
- State Differences
- Tax Incentives
- Tax Audits
- Private and State Federal Royalties
- State Royalty Payments
- ONRR payments
- Check Stub Processing
- Processing Checks
- Operator Questions
- Data Verification
- Revenue Accountant Relationships
- Data Needs
- Inter-departmental Relationships
- Partners and Working with Purchasers
- Variance Analysis Analytics
- Close Activities
- Variance Analysis Process
- Reconciliations
- Period Adjustments
Learning Objectives
Upon completion of this course, you will be able to:
- Describe the upstream oil and gas industry
- Recognize past and current market regulation
- Describe the critical role of the revenue accountant
- Describe production processes of oil and gas products and by-products
- Recall various product measurement approaches, standards and product allocation methods
- Explain, interpret and execute the various types of lease agreements and provisions
- Apply the sales and entitlement methods of accounting
- Prepare complete accounting entries for common dispositions
COPAS POLICIES: Complaints | Cancellation & Refund Policy
Additional information
| Date / Location | October 25 – 28, 2021 |
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