Petroleum Accounting and Financial Management Journal

Summer 2009 Vol. 28 № 2
Women Directors of Energy Firms: Gender Diversity after the SEC's Audit Committee Requirements 1
Tom Wilson

This paper examines the representation of women among corporate directors in the energy industry in the wake of the SEC's implementation of the financial expert requirement.

Women Directors of Energy Firms: Gender Diversity after the SEC's Audit Committee Requirements. Wilson, Tom, Summer 2009, pp. 1‑11.

Federal Tax Update 2009 12
William Miranda

A review of some of the recently enacted legislative changes impacting 2009, 2010 and some proposed tax changes for 2011.

Federal Tax Update 2009. Miranda, William, Summer 2009, pp. 12‑26.

Accounting for Derivative Instruments and Cash Flow Hedging Activities 27
Jennifer Elder

Important aspects of derivatives accounting associated with the oil and gas industry, including: derivative identification, valuation of derivative instruments, cash flow hedging, presentation and disclosure are discussed in this article.

Accounting for Derivative Instruments and Cash Flow Hedging Activities. Elder, Jennifer, Summer 2009, pp. 27‑38.

US GAAP vs. IFRS the Basics: Oil and Gas 39
Ernst & Young

This article takes a top level look at the accounting and reporting issues relevant to reporting entities in the oil and gas industry and provides an overview, by selected accounting area, of where the standards are similar, where they diverge, and any current convergence projects.

US GAAP vs. IFRS the Basics: Oil and Gas. Ernst & Young, Summer 2009, pp. 39‑63.

Implementing Enterprise-Wide Risk Reduction across Operational and Financial Processes 64
Trent Derr

This article discusses the changes in the scope of business processes impacted by risk management and how management can address deviations in a process that threatens the company's ability to achieve its objectives. This represents a shift to view risk management as a continuous improvement process focused on risk reduction.

Implementing Enterprise-Wide Risk Reduction across Operational and Financial Processes. Derr, Trent, Summer 2009, pp. 64‑77.

A Primer for Oil and Gas Executives on the Multifaceted Tax Implications of Capital Asset and Section 1231 Asset Disposals 78
Dan R. Ward, Ellen D. Cook and Suzanne P. Ward

The calculation and taxation of Section 1231 gain or loss on disposal of capital assets and business assets central to maximization of overall cash flows and effective tax planning are discussed in this article.

A Primer for Oil and Gas Executives on the Multifaceted Tax Implications of Capital Asset and Section 1231 Asset Disposals. Ward, Dan R.; Cook, Ellen D.; and Ward, Suzanne P., Summer 2009, pp. 78‑99.

So, What's It Worth? 100
Jim Hoffman

This article reviews the consideration and other benefits to the mineral owner of an oil and gas lease.

So, What's It Worth? Hoffman, Jim, Summer 2009, pp. 100‑105.