International Petroleum Accounting (Google eBook)

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PennWell Books, 2005 - Business & Economics - 589 pages
3 Reviews
This long-awaited text explains, examines, and discusses various aspects of accounting in international petroleum operations. The authors discuss and illustrate international petroleum contracts and related contract accounting issues that arise and contrast U.S. accounting standards with those of other countries which are likely to be applicable to companies operating in international settings. Also included are discussions of petroleum tax regimes encountered around the world.
  

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Contents

Upstream Petroleum Operations
1
Industry Accounting Practices
21
Contracts That Influence Accounting Decisions
35
Successful Efforts
73
Accounting for Exploratory Drilling Appraisal Costs
109
Accounting for The Costs of Development
129
Depreciation Depletion Amortization
157
Full Cost Accounting In International Operations
191
Impairment of Proved Property Wells Equipment Facilities
307
Accounting for Future Decommissioning Environmental Costs
327
Accounting for International Joint Operations
361
Disclosure of Cost Reserve Information
395
AIPN 2002 Model Form
423
AIPN Model Form International Accounting Procedure
515
SEC Reg SX Part 210
543
Acronyms Commonly Used in the International Petroleum Industry
557

Accounting for Production Costs Company Evaluation
227
Recognition of Revenue
263

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Page 22 - Financial reporting should provide information that is useful to present and potential investors and creditors and other users in making rational investment, credit, and similar decisions.
Page 6 - Proved oil and gas reserves are the estimated quantities of crude oil, natural gas, and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions, ie, prices and costs as of the date the estimate is made.
Page 7 - Proved developed oil and gas reserves are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery should be included as proved developed reserves...

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