Fundamentals of Oil & Gas Accounting, 5th Edition Author: Charlotte J. Wright | Language: English | ISBN:
1593701373 | Format: PDF
Fundamentals of Oil & Gas Accounting, 5th Edition Description
An excellent training manual and professional reference, Fundamentals of Oil & Gas Accounting, 5th Edition, is packed with examples, diagrams, and appendices. The scope of this text is simply unmatched. The book has been completely updated to reflect the current issues facing oil and gas producers operating in both U.S. and international locations. Inside you'll find: A new chapter on asset retirement obligations and asset impairment; an added section on project analysis and investment decision making; updated coverage of asset exchanges and fair value reporting requirements; thorough discussion of oil and gas pricing and marketing arrangements; and, updated examples and homework problems.
- Hardcover: 750 pages
- Publisher: PennWell Corp.; 5 edition (August 13, 2008)
- Language: English
- ISBN-10: 1593701373
- ISBN-13: 978-1593701376
- Product Dimensions: 10.2 x 7.4 x 1.8 inches
- Shipping Weight: 3.4 pounds (View shipping rates and policies)
I used a previous version of this text for years and decided to update to the latest. It was a worthwhile investment. If you are thinking of making an investment in upstream energy production or have previous accounting experience and thinking of making a move to energy production this book is a must.
I will also hit a touchy subject in the industry. The industry is largely run by some of the brightest engineers, geologists, and physicists you will ever have the pleasure of meeting. Unfortunately, most of them assume that because of the demanding math background required and their mastery therein that understanding something so 'simple' as accounting or book keeping is beneath them. This book should be required reading for the technical leaders in the industry to understand the far reaching financial implications of decisions - the world does not all reduce to a net present value calculation with a 10% discount rate.
The examples may be over simplified to somebody with accounting expertise, but for those looking to bridge their knowledge to upstream energy produciton the examples do an outstanding job of demonstrating the concepts outlined in the text.
I haven't had any luck locating a solutions manual for the outstanding problem sets at the end of each chapter. I did not work through the problems in this edition, but found the experience very valuable in previous editions. I highly recommend anybody working through this for the first time to invest the effort in the problems, but as of this writing I don't know how you can verify your work.
By BrentB67
Comprehensive Reference book for Oil and Gas Accounting, also well laid out. Covers various scenarios in Oil and Gas accounting from exploration to production. Will recommend this any day.
By vtweneboa
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