Accounting for Downstream Oil & Gas under US GAAP (3 days)

Course Benefits
 
  • Understand the basic physical flow of the oil and gas from the lease to the end user
  • Define the economic events that occur along from the lease to the end user
  • Master the accounting transactions associated with refining, marketing and transportation
  • Understand measurement and valuation of the product, including quantities held in storage
  • Recognize the need for internal control points to ensure the company is accounting for all of the end product
  • Master the disclosure requirements in addition to the SEC rules