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) (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.
- International Accounting Standards Board (IASB) Joint Venture Exposure Draft ED #9
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December 17, 2007 Draft (PDF)
FARC Committee comments (MS Word) - Final Draft 2007 Accounting Procedure
- Download (PDF)
- Please feel free to send us comments or questions via the PASC Forum, or by emailing the PASC Office
