|
|
Course Description
Basic Financial Accounting and Reporting Oil and Gas E and P Operations - Level One
Specialized Knowledge
(12
credits)
$156.95
| Other Designations | Credits |
| Licensed Tax Consultant | 12 hours |
In keeping with the "basic" description used in describing this Program, the majority of the discussion, illustrations, examples, etc., are directed towards a "basic operation". The term "basic operation" is intended to cover one that involves onshore, domestic (USA) locations. In addition, the various phases of such an operation covered by this Program are limited to those more commonly encountered by most entities involved in E&P operations. There will be references to phases of such operations that may fall outside of the "most commonly encountered" description and within the description of an "integrated" operation. However the references to the items referred to in the preceding sentence are merely descriptive in nature and additional comments related thereto will be included in planned Level II (Intermediate) or Level III (Advanced) Programs.
This Program is principally directed toward financial accounting and reporting, principally pursuant to Generally Accepted Accounting Principles (GAAP). However, the Program does contain a very limited discussion of the very basic features of federal income taxation as it applies to E&P domestic USA operations. This discussion is deemed appropriate in view of the fact that federal income tax costs and liabilities related thereto impact the financial statements. In addition there are some limited comments related to reporting to management, a natural adjunct to financial reporting.
The discussion in this Program is principally oriented toward "operating" mineral interests. The Program does, however, provide some comments covering matters involving "non-operating" mineral interests. Subsequent discussion provides descriptions covering operating and non-operating mineral interests.
Major
Subjects:
 |
A Broad View of the E&P Phase of the Oil and Gas Industry
|
|
Field Operations and Administrative Activities
|
|
E&PCO and the Financial Model
|
|
Financial Reporting & GAAP
|
|
Income and Other Taxes
|
|
Management Information
|
 |
For licensing information, click on the Licensing Information
button. |
|
