Petroleum Accounting Principles Procedures and Issues 6th edition by Horace R Brock, Molly McDonald Ogden ISBN 0940966263 9780940966260

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Product details:

ISBN 10: 0940966263 
ISBN 13: 9780940966260
Author: Horace R Brock, Molly McDonald Ogden

Petroleum Accounting Principles Procedures and Issues 6th Table of contents:

Chapter 1: Introduction to Petroleum Accounting

• Overview of the Petroleum Industry and Its Economic Importance

• The Role of Accounting in Petroleum Operations

• Key Challenges in Petroleum Accounting

• Basic Concepts and Terminology in Petroleum Accounting

Chapter 2: Accounting for Exploration and Development Costs

• Exploration Activities: Geological and Geophysical Costs

• Capitalization vs. Expense of Exploration Costs

• Accounting for Development Costs: Well Drilling and Infrastructure

• The Full Cost and Successful Efforts Methods of Accounting

Chapter 3: Accounting for Oil and Gas Reserves

• Defining and Estimating Petroleum Reserves

• The Role of Reserves in Financial Reporting

• The Reserve Recognition and Classification Process

• Impact of Reserve Changes on Financial Statements

Chapter 4: Revenue Recognition in Petroleum Operations

• Revenue Streams in the Petroleum Industry: Sales, Royalties, and Joint Ventures

• Revenue Recognition Principles for Oil and Gas Sales

• Accounting for Joint Venture Agreements

• Handling of Revenue from Royalty and Production Sharing Agreements

Chapter 5: Depreciation, Depletion, and Amortization (DD&A)

• Depreciation of Petroleum Assets: Methods and Considerations

• Depletion of Natural Resources: Units-of-Production vs. Other Methods

• Amortization of Intangible Assets in Petroleum Operations

• Accounting for Impairments and Write-offs

Chapter 6: Accounting for Environmental Liabilities and Asset Retirement

• Recognizing Environmental Liabilities in Petroleum Operations

• Asset Retirement Obligations: Decommissioning and Cleanup Costs

• Legal and Regulatory Issues Related to Environmental Liabilities

• The Impact of Environmental Accounting on Financial Statements

Chapter 7: Taxation in the Petroleum Industry

• Overview of Petroleum Industry Taxation: Corporate and Resource Taxes

• Special Tax Incentives and Deductions for Exploration and Development

• Accounting for Petroleum Taxes: Current and Deferred Taxes

• The Impact of Tax Legislation on Petroleum Operations

Chapter 8: Financial Reporting in the Petroleum Industry

• Preparing Financial Statements for Oil and Gas Companies

• International Financial Reporting Standards (IFRS) vs. Generally Accepted Accounting Principles (GAAP)

• Disclosures Required for Oil and Gas Operations

• Reporting Segment Information and Risks in Petroleum Financials

Chapter 9: Internal Controls and Audit Procedures in Petroleum Accounting

• Establishing Internal Controls for Petroleum Operations

• The Role of Auditors in Petroleum Financial Reporting

• Common Audit Issues and Risks in the Petroleum Industry

• Ensuring Compliance with Financial Reporting Standards

Chapter 10: Joint Ventures, Farmouts, and Other Collaborative Agreements

• Accounting for Joint Ventures in the Petroleum Industry

• Farmout Agreements and Their Accounting Treatment

• Risk Sharing and Profit Allocation in Collaborative Petroleum Projects

• The Impact of Collaborative Agreements on Financial Statements

Chapter 11: Oil and Gas Valuation and Financial Analysis

• Methods of Valuing Oil and Gas Reserves and Assets

• Financial Ratios and Metrics for Petroleum Companies

• Cash Flow and Profitability Analysis in the Petroleum Industry

• The Role of Valuation in Mergers, Acquisitions, and Investment Decisions

Chapter 12: Emerging Issues in Petroleum Accounting

• New Accounting Standards and Their Impact on the Petroleum Industry

• The Role of Technology in Improving Accounting Practices

• Accounting for Unconventional Oil and Gas Resources (e.g., Shale, Tar Sands)

• Environmental and Sustainability Reporting in Petroleum Accounting

Chapter 13: Petroleum Accounting and Corporate Governance

• The Role of Corporate Governance in Petroleum Accounting

• Ethical Issues and Transparency in Petroleum Financial Reporting

• The Impact of Corporate Governance on Stakeholder Trust

• Best Practices for Governance in Petroleum Companies

Chapter 14: Case Studies in Petroleum Accounting

• Case Study 1: Accounting for Exploration and Development Costs

• Case Study 2: Taxation and Revenue Recognition in a Petroleum Joint Venture

• Case Study 3: Managing Environmental Liabilities and Asset Retirement

• Lessons Learned and Practical Applications in Petroleum Accounting

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Tags: Horace R Brock, Molly McDonald Ogden, Petroleum Accounting, Procedures