The all new
6th edition petroleum accounting principles,procedures & issues book is published in conjunction by PricewaterhouseCoopers and Professional Development Institute (PDI) of the University of North Texas. The book costs $198 plus tax, shipping and handling and is available through PDI at +1 (800) 433 5676 (in the US) or email:
pdiinfo@pdi.org. It is also available through
www.amazon.com.
PwC employees (only) may order copies of the book from the
PwC global publications database.
The text focuses on US financial accounting and reporting for petroleum exploration and production activities. The newly released 6th edition features numerous enhancements from earlier editions, incorporating more graphics and examples, along with regulatory updates from the Securities and Exchange Commission (SEC), the Federal Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), Internal Revenue Service (IRS) and other bodies. Also new to the 6th edition is a searchable compact disc containing frequently used reference tools, such as leasing forms and regulatory texts. No other book contains as much information on petroleum financial accounting. Topics include:
- Industry overview, history, economics and structure
- Successful efforts vs. full cost accounting
- Explanation of, and financial accounting for, acquisition, exploration, development, production and abandonment activities
- Amortisation of capitalised costs
- Impairment accounting under the new SFAS 144 and under full cost rules
- Gas imbalance accounting
- Valuation of proved oil and gas properties
- Business combinations
- Accounting for sales, subleases, production payments, net profit interests, farmouts and carried interests
- Basic E&P income tax rules
- Financial accounting for income taxes
- Partnership accounting
- Accounting for international operations, offshore operations and enhanced recovery activities
- Drilling operations
- Supplemental disclosures
- Explanation of and accounting for hedging activities
- S-X Rule 4-10
- SEC Staff Accounting Bulletins, Topic 12
- FASB Current Text section Oi5 on accounting for oil and gas producing activities
- Illustrative financial statements, notes, and supplemental SFAS disclosures
- Illustrative leases for MMS offshore, Texas and an individual lessor
- Risk Management
