PDI has teamed up with Smartpros, a leader in providing accredited accounting education, to provide oil & gas accounting education online via Smartpros’ Professional Education Center.
Petroleum Accounting I is now available online. Whether you’re new to the oil & gas accounting arena or need a “refresher”, these modules are for you.
Each module is a multimedia file, with corresponding slides and learning points. Watch the module, answer the questions to reinforce the material, maintain a passing grade, and you’ll earn CPE!
The cost per CPE hour is $54; however, there are discounts if you want to take more than 1 CPE hour or you have multiple people within your organization who need the program. Contact us via phone at 1.800.433.5676 or through the website.
The modules for Petroleum Accounting I are listed below. Click on the title to see a brief description.
The topics to be covered include: introduction to accounting methods, background on accounting methods to primary cost categories, overview of capitalization and amortization, property acquisition costs, property development costs, and the liabilities, revenue and expense associated with these activities, as well as a brief overview of the accounting impacts.
The topics cover leasing in the U.S. More specifically, the module will discuss: lease contract provisions, operating and nonoperating mineral interests, lease acquisition cost, leasehold, maintenance and carrying cost of leasehold, and lease impairment. Additionally, post-balance sheet events that take place will be covered.
General reserve definition and categories will be discussed. Also included will be: recoverable items, commercial quantities, proven reserve classifications, proved developed and undeveloped reserves, reserve estimation, the data that supports that and the auditing around reserves.
Accounting for geological and geophysical costs and test will contributions will be covered. Other topics include: the general treatment of exploration costs, record keeping requirements, the AFE system, G&G cost and expenses associated with the G&G cost, work in progress, test well contributions, and the support facilities and overhead costs.
Production calculation, proved mineral interest, dismantlement, abandonment and the joint production of oil and gas will be covered. Also included will be shrinkage and some tax treatments.
This course will cover full cost accounting cost centers, types of costs to capitalize, comparison of full cost accounting to successful efforts, the amortization of the capital cost, development projects, units of production calculations and amortization, the interest calculations, and the full cost and the tax impacts of all these processes.
Online APA Review Program Now Available!
PDI has developed a series of online learning modules to help you succeed on the APA Exam. The modules consist of a series of short “movies” highlighting the needed concepts you need to know for the exam. Also included are series of questions similar to the ones you may see on the exam that will reinforce your knowledge of the concepts and help prepare you for the questions on the test. Questions? Click here to review the COPAS APA Guidebook.
The first two modules are now available: Land & the Law and Operations. You may find more information about the modules as well as register below.
For an example of the exam review module, click here.
If you need additional information or have registration questions, contact Tami Russell at trussell@pdi.org.
Oil and Gas Law Review is a three hour program with sample study questions developed and taught by PDI instructor and PDI National Sales Director Jim Hoffman. Topics covered in this course follow those referenced in the COPAS APA Accreditation Oil and Gas Law Reference Outline: Introduction to Law of Real Property, Ownership Rights, Kinds of Interests, Protection Rights, Creation of Interest, Joint Ownership Rights, Conveyances, Oil and Gas Leases, and Drilling Orders.
Oil and Gas Review is a four-hour program with sample study questions developed by PDI instructor Don Looney. Topics covered in this course follow those referenced in the COPAS APA Accreditation Oil and Gas Operations Reference Outline: Petroleum Geology, Petroleum Exploration, Drilling Operations, Production, and Post Production.
PDI’s APA Review Courses are designed to play in most home and business settings without any special software other than an Internet browser such as Internet Explorer.
Courses do require a high speed Internet connection, such as cable modem, DSL or corporate high speed line.
Courses also include sound, so your computer should have speakers and you may need to adjust the volume control.
Courses require Flash Player, which is a free plug-in to your Internet browser and is likely already installed. This plug-in can be downloaded at www.adobe.com.
Courses launch in a chromeless browser window. To ensure that the course views properly, please make sure popup blockers are turned off.
Most courses are optimized for monitors set at 1024 x 768 pixels. If portions of a course window are not viewable, you might change your graphics setting from 800 x 600 to 1024 x 768.
