Oil & Gas Accounting: Seminar 4 - Revenue ASC 606

In this video we do a deeper dive into oil and gas revenue. We go over some of the basics including price and volumes. Then dive into deeper topics such as differentials, royalty interest, division of interest, and much more. Lastly, we show examples including journal entries for various revenue transactions and how to check they are correct.

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0:00 Revenue Basics
6:20 Differentials
11:00 Operations and Ownership
17:15 Examples WI & NRI
18:35 DOI
22:15 Revenue Examples
24:35 Revenue Deep Dive
30:00 Journal Entries & Examples
35:30 Purchaser Statement & Examples
39:00 Revenue Risks & Testing
46:20 Revenue Accrual
50:05 Production & Ad Valorem Taxes
56:15 Other ASC 606 Considerations