2011 Accounting Procedure and Related Documents
PASC is pleased to announce the 2011 Accounting Procedure is now available for sale via a site license.
The annual site license cost consists of two parts:
(i) one time only set up fee of $150
(ii) a variable component based on the estimated number of joint venture agreements an organization will undertake in a year or the number of copies of the documents an organization will use or distribute within its organization in a year, whichever is greater. The variable portion will become the basis for the annual renewal fee for the License.
The annual site license fee will be as follows:
- 1 – 20 joint venture agreements annually: $200 per year
- 21 – 50 joint venture agreements annually: $350 per year
- 51 – 100 joint venture agreements annually: $600 per year
- 101 – 200 joint venture agreements annually: $1000 per year
- 201 – 400 joint venture agreements annually: $1500 per year
- 401+ joint venture agreements annually: $2000 per year
In order to purchase the site license, you will be required to sign off indicating that you are authorized to do so on behalf of your organization, and that you have read, understood and agree to the terms of the site license. Upon receipt of payment via credit card, the documents will be sent via email.
Printed Copy Orders (API-15, API-16, API-17, and GP-14 only): PASC Publications Order Form
In addition to the 2011 Accounting Procedure, the following four documents were also released:
- API-15 Chargeable Engineering Activities: the purpose of this document is to provide clarity and guidance on the chargeability of engineering activities, whether performed by the operator’s staff or by contracted engineering services. The information in this document is intended to aid in implementing the provisions of the 2011 Accounting Procedure.
- API-16 Chargeable Communication Systems: the purpose of this document is to provide clarity and guidance on the chargeability of communications systems, whether owned by the operator, the joint account or supplied by a third party, and to aid in implementing the provisions of the 2011 Accounting Procedure.
- API-17 Chargeable Field Computer Systems: the purpose of this document is to provide clarity and guidance on the chargeability of field computer systems, whether owned by the operator, the joint account or supplied by a third party, and to aid in implementing the provisions of the 2011 Accounting Procedure.
- GP-14 2011 Accounting Procedure Overview
The 2011 Accounting Procedure (and related documents) replaces all previous versions of the PASC Accounting Procedure (including the most recent 1996 version) that are currently in use for domestic joint ventures. The current PASC Frontier Development and Exploration Accounting Procedures still remain as guidance documents for frontier operations.
Special thanks goes to the PASC Joint Interest Research Committee for leading this change initiative and creating the documents that are key to managing joint venture cost sharing arrangements. The Board of Directors of PASC and the Joint Interest Research Committee also extend their thanks to the many industry stakeholders who actively participated in the process through the various industry feedback cycles.
Site License - FAQ
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