NEWS & EVENTS
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Events Calendar

July 20, 2017

Education Committee Meeting
Closed Meeting
Event Starts: July 20, 2017
Time: 11:30 am - 1:30 pm
Location: TBD

August 17, 2017

Education Committee Meeting
Closed Meeting
Event Starts: August 17, 2017
Time: 11:30 am - 1:30 pm
Location: TBD

September 14, 2017

Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: September 14, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

September 19, 2017

Materials & Inventory Committee Meeting
Closed Meeting
Event Starts: September 19, 2017
Time: 11:30 am - 1:30 pm
Location: TBD

September 19, 2017

Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: September 19, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

September 20, 2017

PASC 2017 Education Day
Event Starts: September 20, 2017
Time: 7:00 a.m - 4:00 p.m.
Location: The Civic on Third (130 Third Avenue South East)

September 27, 2017

PASC Course: 2011 Accounting Procedure (Introduction)
2011 Accounting Procedure (Introduction) 1/2 Day
Event Starts: September 27, 2017
Time: Registration 7:30 am; Course 8:00 am - 11:30 am
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

2011 Accounting Procedure: Introduction
Format: ½ day (4-hours)

The PASC 2011 Accounting Procedure affords a new option to companies for a model accounting procedure that was designed in context of an ever-changing industry environment. This course acts as an introduction to some of the key changes that were brought about with the introduction of the 2011 PASC Accounting Procedure, and overviews how some of the new options in PASC 2011 affect our current business practices.

Instructor:  Kody Carroll
As President of Integrity Audit and Accounting Ltd., Kody Carroll has been specializing in Joint Venture Accounting and Joint Venture Audit for both upstream and midstream oil and gas companies for 18 years. He has performed and managed a number of audits at a multitude of companies across the industry. In addition, he has been involved in training on PASC model agreements, equalizations, joint venture accounting, and joint venture audit.

Kody is a member of the Joint Venture Audit Committee (JVAC) of PASC and has a MBA from the University of Calgary specializing in Global Energy Management and Sustainability.

Fee:
$300 +GST Members
$350 +GST Non-members

Wednesday, September 27, 2017
Registration & Breakfast 7:30 am; Course 8:00am - 11:30 am
Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

Note: Light refreshments served.

September 27, 2017

PASC Course: 2011 Accounting Procedure (Intermediate)
2011 Accounting Procedure (Intermediate) 1/2 Day
Event Starts: September 27, 2017
Time: Registration 12:00 pm; Course 12:30 pm- 4:00 pm
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

2011 Accounting Procedure: Intermediate
Format: ½ day (4-hours)

This intermediate course on the 2011 PASC Accounting Procedure picks up where the introductory course left off by providing a more in depth clause-by-clause analysis of key differences between PASC 1996 and PASC 2011. The course will also review some of the challenges that industry may still have to content with when adopting and adapting the 2011 PASC Accounting Procedure for the governing agreements of today and tomorrow. 

Instructor:  Kody Carroll
As President of Integrity Audit and Accounting Ltd., Kody Carroll has been specializing in Joint Venture Accounting and Joint Venture Audit for both upstream and midstream oil and gas companies for 18 years. He has performed and managed a number of audits at a multitude of companies across the industry. In addition, he has been involved in training on PASC model agreements, equalizations, joint venture accounting, and joint venture audit.

Kody is a member of the Joint Venture Audit Committee (JVAC) of PASC and has a MBA from the University of Calgary specializing in Global Energy Management and Sustainability.

Fee:
$300 +GST Members
$350 +GST Non-members

Wednesday, September 27, 2017
Registration 12:00 pm; Course 12:30 pm- 4:00 pm
Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

October 3, 2017

Course: Revenue Audit
Revenue Audit
Event Starts: October 3, 2017
Time: 7:30 am - 12:00 pm
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary AB

Revenue Audit
Format: ½ day

You will learn the following in this 1/2 day session:

  • Petrinex
    • Audit preparation - to ascertain risk areas
  • EPAP - Directive 76 (Alberta)/ EVAP (Saskatchewan)
    • Enhanced Production Audit Program System
    • Enhanced Valuation Audit Program
  • Directive 17
    • Measurement Requirements for Oil & Gas Operations
  • Directive 46
    • Production Audit Handbook
  • Gas Component Conversiona & Oil Densities
  • Onsite Information
    • Production Accounting & Revenue Files
    • Oil & Gas Analysis
    • Production Accounting Information Not Available
  • Common Rick Areas & Findings
    • Gas
    • Oil & Solution Gas
    • Liquids

Instructor: Dale Richardson
Dale Richardson received a two year business administration diploma from  Mount Royal College and worked as a Tax Clerk, Gas Plant Accountant, Internal Auditor and a Revenue and Fixed Asset Supervisor before joining Rife Resources Ltd in August 1983.  He started at Rife Resources as a Senior Auditor,  became Audit Supervisor in 1987, was then promoted to the Audit Manager from 1993 to 2008. Since 2008 Dale has become the Business Manager at Rife Resources Ltd.  Dale is currently part of the Asset Preservation and Compliance Team which involves ensuring that the terms of freehold leases are complied with and non leased mineral titles lands are included with offsetting production are drilled or leased out. Dale is also part of the offset team that issues offsets on leased freehold lands where offsetting production is draining the freehold lands. The APAC teams is also involved in mediation and legal issues.

Dale also accesses risk areas internally and conducts internal reviews and contractor audits at Rife Resources which also manages  Freehold Royalties Partnership and Canpar Holdings Ltd.  Dale also participates on joint venture audits as mentor and trainer with the auditors conducting the joint venture audits.

Fee:
$300 +GST Members
$350 +GST Non-members

Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary AB
Time: 7:30am Registration & Lunch, 8:00am Class Starts

October 4, 2017

Course: Intro to Petroleum Tax 1/2 Day
Intro to Petroleum Tax - morning session
Event Starts: October 4, 2017
Time: 8:00 am to 12:00 noon
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary, AB

PASC is offering a half day course on the Introduction to Petroleum Tax.  Topics for the course include an Overview of Income Tax; What is income; How oil and Gas activities are treated for tax; Land costs; Development Costs; Revenue, expenses & tax.  Now is the time to finally understand what is COGPE, CDE and CEE tax classes and how do they affect the bottom line to your company. 

At the end of the class you will an example on how the tax guru’s complete the T2 tax return.  The course is taught by Keith Raskob-Smith Senior Supervisor, Tax for Devon Canada. 

PASC Members: $300 + GST

Non-PASC Members: $350 + GST

Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary, AB

Time: 8:00am Registration & Breakfast, 8:30am Class Starts

Note: Full breakfast & tea/coffee served between 8:00am - 8:30am

October 12, 2017

Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: October 12, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

October 17, 2017

Materials & Inventory Committee Meeting
Closed Meeting
Event Starts: October 17, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club (Tentative)

October 17, 2017

Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: October 17, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

October 18, 2017

PASC AGM & Luncheon:October 18, 2017
Event Starts: October 18, 2017
Time: 11:30am - 1:30pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

ANNUAL GENERAL MEETING NOTICE

Pursuant to Section 1 (d) of the Societies Act, notice is hereby given that the Annual General Meeting of the Petroleum Accountants Society of Canada will be held:

Wednesday, October 18, 2017
Calgary Petroleum Club, 319 5th Avenue SW, Calgary, Alberta
11:30am to 1:30pm

Complimentary Members Only Event.

AGENDA 

  1. Call to Order and Opening Remarks 
  2. Approval of the Agenda
  3. Approval of the Minutes of the October 19, 2016 Meeting
  4. Financial Report
  5. Approval of the Audited Financial Statements as at June 30, 2017
  6. Appointment of Auditors for 2017/18 year 
  7. Elections
  8. Adjournment

Members are reminded that only those items on the agenda will be presented during the business portion of the meeting. There will be time on the agenda for announcements or informational items. No new business requiring decisions or motions may be added.

PASC Members: $0
Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Member of the Year!
The Petroleum Accountants Society of Canada Member of the Year Award is a yearly accolade to honor members who have demonstrated outstanding contribution, dedication, and advancement of the society’s objectives over the prior year.

Through peer membership nominations submitted to the Executive Committee, PASC has implemented this yearly award to recognize an individual member’s outstanding volunteering service, impact to PASC and the accounting profession through his/her commitment, passion, professionalism and leadership. Nominations can be extended to all members, committee participants and Board Directors. To be eligible for the award, the nominee must have actively held a PASC membership over the course of the nominating year.

The award is to be presented for prior year commitment at the Annual General Meeting. To nominate a potential Member of the Year candidate please visit www.petroleumaccountants.com to fill out a nomination form.

October 19, 2017

Education Committee Meeting
Closed Meeting
Event Starts: October 19, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club (Tentative)