Fundamentals of Oil and Gas Accounting Workshop

Welcome
Agenda
Register
Map & Directions
Welcome

Welcome

CrumbleyDr. Larry Crumbley, CPA, CFF, CRFAC, MAFF, FCPA, RFI


Visiting Professor
Department of Accounting, Finance and MIS
Prairie View A&M University


Emeritus Professor
Department of Accounting
Louisiana State University


Dr. Crumbley is a former member of the Energy Taxation subcommittee of the AICPA, State Sales and Use Taxation Committee, National Taxation Association, and a past trustee and president of the American Taxation Association.  He is also a member of the advisory board of Petroleum Accounting and has been the editor of Oil, Gas & Energy Quarterly for more than 40 years.  He is the author of many books and articles.


Why Attend the Workshop: The petroleum industry is finally on an upward trajectory and accounting and financial expertise is needed.


Who Should Attend: Petroleum accountants and executives, CPAs, internal and external auditors, students, and academicians.


NASBA Field of Study: Accounting – Technical


Prior Knowledge Required: None


Program Knowledge Level:  Basic


Delivery Method:  Lecture, cases, problems, discussion

Recommended Credit Hours: 16 (may qualify for Real Estate and Law)

Agenda

Agenda

General Description: The participant will learn the fundamentals of petroleum accounting, including most aspects of oil and gas operations. Numerous problems and cases will be worked through in the workshop.


Learning Objectives: After completing this workshop, the participant will be able to:

  • Identify exploration, acquisition, drilling, and development costs.
  • Perform depletion, impairment, and abandonment entries.
  • Deal with the types of reserves.
  • Compare the pros and cons of successful efforts and full cost methods.
  • Calculate the full – cost ceiling limitation.
  • Discuss revenue accounting and sharing contracts.
  • Recognize joint ventures and production.
  • Account for basic conveyances.
  • Explain international agreements and foreign currency transactions.
  • Prepare for possible international standards.
  • Perform ratio analysis, statement analysis, and production allocations.
  • Analyze like-kind exchanges and unit -of- production method.
  • Detect and deter fraud in the oil patch.
Register

Register

Session 1 (Basic): January 31, 2019, 8:00 am-4:45 pm

Session 2 (Intermediate): February 1, 2019, 8:00 am-4:45 pm

Registration Fee: $210 for both sessions; $130 for a single session

Registration Deadline: January 28, 2019 or until the maximum seating capacity is reached

Workshop Location: Prairie View A&M University - Northwest Houston Center, 9449 Grant Road, Houston, TX 77070

Contact: Dr. Rahim Quazi (rmquazi@pvamu.edu; 713-790-7286)

Registration is now open

Map & Directions

Map & Directions