The Petroleum Accountants Society of Canada provides the oil and gas industry with standards and information in oil and gas accounting. The membership is very active in the development of new procedures and education.
What's New
- Wage Index Adjustment (Effective July 1)
- June 17 Luncheon Presentation
- 2010 recommended audit rate details available (June 19)
- 1996 Accounting Procedure - now available online free of charge for PASC Members - (June 11, 2009)
- Update on Joint Venture Green House Gas Cost/Credit Allocation Guidelines for Facility Operators and Owners Accounting Guidelines - (May 25, 2009)
- Membership Directory (Members Only) - June 2009
- PASC Announces Online Courses
Latest Industry Drafts
- Guide to Accounting and Reporting for Farmouts/Farmins Penalty Interest Net Profits Interest Net Revenue Interest
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Download (PDF)
More information (please note the deadline for comments has been extended to March 31, 2009)The Payout Accounting Project Team and the Joint Interest Research Committee invite interested parties to review and comment on this draft. This Accounting Guideline has been developed to explain the most common types of arrangements that involve payout accounting, associated cost recovery and some of the contractual provisions that affect payout situations in the Canadian oil and gas industry. It has been developed to help provide guidance to, and to promote consistency among, Operators on payout accounting and the preparation of payout statements.
- Please feel free to send us comments or questions via the PASC Forum, or by emailing the PASC Office
