Joint Venture Accounting Basics for Production Accountants
November 3, 2016
8:30 am – 12:00 pm
Overview of Joint Venture Accounting Basics.
- How can Cost Centers and Divisions of Interest (DOIs) differ in the PA world and the JV world?
- What exactly is a DOI and why can there be numerous different ones per well?
- What Production Accounting items get billed out on a Joint Venture Billing (JVB), where might a PA be asked to interpret/assist?
- What are the differences between Taken in Kind (TIK) and non-TIK and where would we find non-TIK revenue and backup?
- What costs can and are allocated on a JVB that relate to Production Accounting?
- What Royalty items do we see on a JVB that could need PA review/approval?
- Should we see Crown Royalty charges on our JVBs?
- How can we verify trucking/emulsion/disposal charges on a JVB?
- What is the difference between non-op and non-op TIK?
This workshop is an interactive, instructor-led session. Participants will develop an understanding of Joint Venture Accounting basics by looking at specific examples and through class discussion.
Who will benefit:
Production Accountants – want to know more about Joint Venture Accounting? This seminar is an ideal introduction to the basics of Joint Venture Accounting.
Speaker: Kent Geddes