International Petroleum Accounting, 2nd edition

International Petroleum Accounting 2nd edition is a comprehensive, cover-to-cover revision of the International Petroleum Accounting 1st edition. This book uniquely presents a comprehensive guide to both U.S. accounting standards and the International Accounting Standards Board (IFRS). The 2nd edition focuses on accounting standards and guidance issued by the IFRS, the U.S. Financial Accounting Standards Board, and the U.S. Securities Exchange Commission as they relate to accounting and reporting for global petroleum-related operations. The new edition also includes a detailed, point-by-point comparison of U.S. and IFRS standards spanning all significant accounting topics from initial exploration and evaluation of potential oil and gas prospects through production and final abandonment, also including the latest standards relating to revenue recognition, leases, and joint operations. The 2nd edition is updated to include detailed discussion and analyses of current issues related to global economic and political policies impacting the petroleum industry in addition to various petroleum fiscal policies, tax issues, various petroleum contracts, and joint operating agreements. This new edition also includes a new chapter on oil and gas reserves which encompasses a detailed discussion of the latest reserves reporting requirements issued by the U.S. Securities Exchange Commission along with the reserves reporting guidance from the Petroleum Reserve Management System (which is utilized by many companies accounting under IFRS).

Features & Benefits

• Understand the complexities of international petroleum contacts as they relate to accounting practices.
• Gain insight into the financial accounting standards in place in the U.S., UK and international standards as they relate to upstream petroleum operations.
• Detailed discussion and guidance in complying with various contract requirements and the latest financial accounting standards.

Audience

• Students
• Accounting & Finance professionals
• Management
• Anyone who seeks to understand international oil & gas accounting.

About the Author

Charlotte J. Wright, PhD, CPA is CEO of Wright Resources International, PLLC and Emeritus Regents Professor at Oklahoma State University where she was a professor in the School of Accounting for 36 years. Dr. Wright received her Bachelor of Business Administration (Accounting) and Master of Professional Accounting degrees from the University of Texas at Arlington and a Ph.D. with a major in accounting and minors in finance and economics from the University of North Texas where she held a fellowship in the Institute for Petroleum Accounting. She is a Certified Public Accountant (CPA) and holds an active permit to practice in the State of Oklahoma.

Dr. Wright is internationally recognized as an expert in petroleum accounting. She routinely works with numerous U.S. authorities including the U.S. Securities and Exchange Commission, Department of Justice, Department of Treasury, as well as the International Accounting Standards Board and International Accounting Standards Committee regarding matters related to petroleum accounting. Additionally, Dr. Wright has served as a consultant for numerous U.S. and international oil and gas companies.

Dr. Wright has been actively involved in academic research, education, consulting, and practice in the petroleum accounting and economic analysis for over 40 years. She has published numerous articles and research monograms, and continues to present seminars and speeches on oil and gas industry-related topics in countries across the globe.

Dr. Wright has received numerous honors and awards. These include the ASWCPA National Literary Award (1986), Oklahoma Outstanding Accounting Educator (2009), Oklahoma State University Regents’ Distinguished Research Award (2011), Oklahoma State University Phillips 66 Service Excellence Award (2014), Oklahoma State University Richard Poole Faculty Excellence Award (2014) and Oklahoma State University Regents’ Professor Designation (2016).

Dr. Wright is the author of two internationally recognized best-selling books, International Petroleum Accounting (1st edition) and Fundamentals of Oil and Gas Accounting (ed. 4-6).

Details
Type: Hardcover
Size: 6 x 9 inches
Pages: 583
Published: December 2019
ISBN: 9781593701673