ACC 336 : Oil accounting

Department

Accounting Department

Academic Program

Bachelor in Accounting

Type

Compulsory

Credits

03

Prerequisite

Overview

- Introducing students to the characteristics of the oil industry.

- Introducing the student to accounting treatments for exploration, drilling, development and oil production operations.

- Introducing the student to accounting treatments for depleting capital expenditures and depreciating fixed assets and revenues in oil companies.

- Introducing the student to how to prepare the final accounts and financial statements of the oil companies

Intended learning outcomes

A / knowledge and understanding

- Introducing students to the concept of oil accounting and its characteristics.

Introducing the student to the accounting treatment procedures for research, exploration, development and production operations.

Introducing the student to the accounting treatment of capital expenditures and revenues.

- Introducing students to how to prepare financial statements in oil companies

B / mental skills

- The student's ability to conduct accounting treatments in oil companies.

- The student's ability to distinguish between productive and non-productive fields

- The student's ability to differentiate between capital and non-capital expenditures in oil companies.

The student's ability to prepare financial statements for oil companies.

C / scientific and professional skills

The student should understand the accounting treatment of exploration expenses and obtaining concession contracts.

The student should understand the various accounting treatments related to undeveloped contracts.

- That the student understands the different accounting treatments for the production process.

- That the student understand the depletion of capital expenditures and depreciation expenses of fixed assets, determine revenues and prepare final accounts and financial statements in oil companies

D / general skills

- That the student has the ability to dialogue and discussion.

- The student should be able to communicate and communicate with others.

The student should be able to manage time.

The student should be able to work in a team

Teaching and learning methods

Lectures, discussions, exercises, meals, research papers and exams

Methods of assessments

Sharing and solving exercises and preparing papers during lecturesMidterm exam first week sixthThe second midterm exam, the eleventh weekSixteenth week final exam

Scientific subject	Number of hours per	week
The nature and characteristics of the oil industry	3	1
Exploration expenses and obtaining concession contracts	3	1
Capital expenditure charged for undeveloped contracts	3	1
Drilling and development expenses	6	2
production processes	3	1
Depletion of capital expenditures and depreciation of fixed assets	3	1
Determine the revenues in the oil companies	6	2
Expenses that are deducted from taxable income	6	2
Final accounts and financial statements in oil companies	6	2

Accounting for financial companies (ACC 430)
Studies in accounting (ACC 530)
Accounting for Islamic banks (ACC 439)
international accounting (ACC 438)
Contracting projects accounting (ACC 437)
Revision2 (ACC 434)
Additional manufacturing cost measurement2 (ACC 433)
Review I (ACC 432)
accounting administration (ACC 431)
Public fund accounting (ACC 339)
Accounting for banks and insurance companies (ACC 337)
Oil accounting (ACC 336)
Analysis of financial statements (ACC338)
Additional manufacturing cost measurement1 (ACC 333)
Accounting for service projects (ACC 332)
Corporate Accounting (ACC 330)
Planing peincipals (PLA170)
Accounting Principles I (ACC 130)
Principles of Accounting II (ACC131)
Social responsibility accounting (ACC 436)
Accounting systems design (ACC 435)
Accounting departments and branches (ACC 331)
Intermediate Accounting 2 (ACC 231)
Tax accounting (ACC 335)