COPAS is the only authoritative body that develops and publishes the standards and guidelines regarding oil and gas contracts and establishes the guidelines by which accountants perform their day-to-day functions. Mr. Wierman provides a 2014 COPAS update

The update discusses publications under development, ePublications, annual economic factors related to items in the various model form accounting procedures, energy education courses, computerized equipment pricing system, accredited petroleum accountants program and other COPAS activities.

A report on the activities of the Board of Directors and various committees and subcommittees of the Council of Petroleum Accountants Societies by the executive director.

In this issue we initiate a regular update on the activities of the Council of Petroleum Accountants' Society (COPAS), an organization that has a major impact on petroleum accounting. Mr. Beaverson, the Executive Director of COPAS, reviews the activities of the various COPAS committees. Of special importance is the approval of several new COPAS Bulletins and major revisions of several other Bulletins.

Recently R.O. Beaverson resigned as Executive Director of the Council of Petroleum Accountants Societies and was replaced by J.W. Westbrook. Mr. Westbrook presents a summary of the activities of various COPAS standing committees.

The COPAS Fall Meeting saw the approval of Revised Bulletin 21--Material Pricing Manual. Approved also was the Employee Benefit Limitation Percentage for 1991. Directors and officers were elected. The activities of the standing committees are reviewed.

Discussions at the COPAS Board of Directors February 1990 meeting included a review of the Computerized Equipment Pricing System (CEPS) contract with General Electric Information Services and the activities of the Natural Gas Review Committee (NGRC). At the spring 1991 COPAS meeting in March the following items were approved: Bulletin #24, Producer Gas Imbalance, new audit per diem rates, and Revised Interpretation #11, Employee Benefits Included Within Operator's Percentage Calculation Charged to Joint Operations . The activities of various COPAS committees are discussed.

The Audit Committee issued a new draft of the Gas Plant Audit Guideline. The EDI Committee is updating the COPAS EDI Guidebook, preparing Development of Electronic Approval: Documentation and Security Accounting Guidelines, and planning to expand E-Mail communications. The Financial Reporting Committee is circulating for comments two reports, Survey of Accounting Treatment of Environmental Costs 1990 and Guide line for Use in Determining Finding/Acquisition Costs. The Joint Interest Committee work on New Interpretation #22--24 Month Adjustment Period was approved. Revised Bulletin #4--COPAS forms has been submitted for approval. The Tax Committee has issued a supplemental update to the Severance Tax Guide.

The Financial Reporting Committee approved Guidelines for Use in Determining Finding/Acquisitions Costs and Accounting Treatment for Environmental Costs--1990. The Revenue Committee is reviewing six revenue modules and rewriting Bulletin #7. The Education Committee has approved the second PASOK module on oil and gas operations training. A new Bulletin #32 and a revision of Bulletin #4 were approved by the Joint Interest committee. The Audit Committee is circulating for review Guidelines for an internal Review of a Gas Plant. The Tax Committee mailed a 1991 update of the Severance Tar Guide in February. The new officers, directors, and standing committee chairmen for 1992 are announced.

The spring COPAS meeting saw approval of three new bulletins concerning farmouts\farmins net profits interest, computer production control accounting guidelines, and operator to producer gas availability. In addition to a number of appointment changes within the various committees, the formation of an International Special Committee was announced. The Council unanimously approved A Resolution of Recognition honoring John E. Jolly. Mr. Westbrook reports on the activities of the standing committees.

This year's Presidents' Leadership Meeting focused on identifying the benefits of COPAS membership. Reports from the various standing committees are highlighted, as are the nominees for four positions on the COPAS Board of Directors.

The COPAS fall meeting in San Francisco saw the election of a new slate of officers and directors and the approval of several new and revised bulletins and addendums. The various standing committees report on their completed and ongoing projects.

A report on the activities of the Council of Petroleum Accountants Societies Board of Directors and Council meeting, plus the completed and on-going projects of the various standing committees.

A report from the executive director on the activities, meetings, and projects of the Council of Petroleum Accountants Societies.

Executive Director Westbrook reports on the activities of the Council of Petroleum Accountants Societies' Board of Directors meetings, plus various projects of the standing committees.

A report on the activities of various committees and subcommittees of the Council of Petroleum Accountants Societies.

An update on the activities of the various committee and subcommittees of the Council of Petroleum Accountants Societies.

A report on the activities of the Board of Directors and standing committees of the Council of Petroleum Accountants Societies, featuring an expanded report on the International Committee by chairperson, John McNamara.

A report on the fall COPAS meeting in Oklahoma City and the various standing committees and subcommittees of the Council of Petroleum Accountants Societies.

A report from the executive director and an update of the activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies (COPAS).

An update on the activities of the executive council and the various standing committees and subcommittees of the Council of Petroleum Accountants Societies.

An update and review of the activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies.

A report from the executive director on the on-going activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies.

A report on the activities of the Council of Petroleum Societies' various committees.

A report on the activities of the COPAS Board of Directors and the various committees and subcommittees.

A report from the executive director of the Council of Petroleum Accountants Societies on the spring Board meeting and the activities of the various committees and subcommittees.

A report from the executive director of the Council of Petroleum Accountants Societies on the activities of the various committees and subcommittees.

A report on the activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies from the executive director.

A report on the activities of the Board of Directors and the various committees of the Council of Petroleum Accountants Societies (COPAS) from the executive director.

An update of the activities of the various activities of the committees and subcommittees of the Council of Petroleum Accountants Societies.

An update on the various activities of the committees and subcommittees of the Council of Petroleum Accountants Societies (COPAS).

A report on the activities of the various committees of the Council of Petroleum Accountants Societies (COPAS) from the executive director.

A report on the activities of the executive committee, the Board of Directors, and the various committees and subcommittees of the Council of Petroleum Accountants Societies (COPAS).

A report on the activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies (COPAS) from the executive director.

A report on the recent board meeting in Las Vegas and an update of the activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies.

A report on the activities of the various committees of the Council of Petroleum Accountants Societies.

A report on the activities of the Council of Petroleum Accountants Societies from the executive director, Jon Gear.

A report on the activities of the various committees and subcommittees of Council of Petroleum Accounting Societies (COPAS).

An update on the activities of the various committees and subcommittees of the Council of Petroleum Accountants Societies (COPAS), including a report on the national meeting in San Antonio.

A report on the activities and upcoming events of the Council of Petroleum Accountants Societies from the executive director, Scott Hillman.

An update on the various activities and projects of the Council of Petroleum Accountants Society (COPAS) from the executive director.

In the first of three articles dealing with the activities of COPAS, the Council of Petroleum Accountants Societies, Richard Beaver son, Executive Director of the organization, discusses the group's history, purposes, and organization. He explains many of the activities that are of special interest to accountants in the industry.

The chairperson of the committee that drafted the new COPAS accounting procedure governing joint operating agreements explains the logic that informs this document.

The 1986 Tax Reform Act created a new Alternative Minimum Tax on corporations. This promises not only to increase the tax liability of many corporations, but also will lead to a great increase in the record keeping burden. In this article Messrs. McDowell and Beck explain the major features of the AMT and its likely impact on oil and gas producing companies.

This study examines the association between corporate governance and executive cash compensation of the U.S. multinational oil and gas companies. When sophisticated investors who have significant economic stakes in a business entity monitor it intensively, do executives work toward maximizing firm value and select value-maximizing projects? Does substantial large stockholder ownership and oversight in a firm make it more likely that corporate executives will demand a higher amount of cash compensation?

This article analyzes firm characteristics of sustainability leaders in the oil and gas industry. Commitment to corporate sustainability is considered a business strategy that aims at creating long-term shareholder value while managing risks not only in the economic dimension, but also in the environmental and social dimensions.

The authors examine the alternative minimum tax for the oil and gas industry in terms of the boom-bust cycle typical of the industry. Through use of a 20-year simulation of oil and gas drilling activity, the authors demonstrate that it is difficult to effectively increase tax incentives to oil and gas exploration companies because a significant amount of the incentive will be eliminated by corporate AMT provisions.

Among the many provisions of the 1986 Tax Act is a requirement that companies allocate and capitalize a portion of their administrative and overhead costs. This paper considers the cost accounting concepts under which such allocations might be considered reasonable for tax purposes. Further, it shows how the choice of allocation method may affect tax liability.

In this, the second article on unitization. Mr. Scott discusses the concept of "disproportionate spending" as a procedure for equalizing development costs in unitizations. The author illustrates this process, used in major ventures in Alaska. and analyzes the accounting treatment by the participants.

James L. Smith and C. S. Agnes Cheng provide analysis of Bruce Koch's article from the Summer 1986 issue of the journal. This article is followed by a response by Dr. Koch.