Joint Venture Accounting Basics for Production Accountants

November 3, 2016
8:30 am – 12:00 pm

Topics covered:

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?

Workshop format:

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