Certificate in Oil and Gas Accounting

Purpose:

The Oil and Gas Certificate is an undergraduate certificate program which is designed to add additionaleducation for students desiring to enter the workplace in the oil and gas industry. Specifically, students who successfully complete this 12 SCH will gain an understanding of oil and gas industry and particularly a working knowledge of accounting in this growing industry. The program is designed for business majors, either current or past.

Upon completion of this certificate program, students will be able to:

1. Explain the role and importance of oil and gas industry to the U.S. economy.
2. Explain the different accounting aspects in the oil and gas industry and exploration and production of oil and gas.
3. Explain the accounting descriptions and procedures for production activities, accounting for asset retirement obligations and asset impairment, accounting from oil and gas sales, and joint interest accounting for oil and gas operations.
4. Explain basic taxation in accounting, accounting for conveyances of oil and gas interests, and oil and gas disclosures.
5. Solve cases regarding accounting aspects of oil and gas leases, working interests, and gas contracts.

Criteria for Admission

Students must be either current undergraduate majors in the A.R. Sanchez, Jr. School of Business, or be students who have previously earned an undergraduate degree in business. Current business majors must be in good standing with a cumulative grade point average of 2.0.

Students interested in pursuing the Certificate in Oil and Gas Accounting should register with the School of Business and meet with its advisor. If pursuing a degree, students must complete the appropriate form with the School of Business as soon as possible, but no less than one semester before completion of their degree. The School of Business and the Office of the Registrar will provide the documentation certifying the completion of the certificate.

The Oil and Gas Accounting Certificate is administrated by the A.R. Sanchez, Jr. School of Business and the Dean of the College is responsible for the oversight of the program.

Criteria for Earning the Certificate

Students must complete the four courses in the program with at least a C in each of the following courses.

Required courses
BA 3330Intro to Oil and Gas Industry3
ACC 3360Oil and Gas Accounting I3
ACC 4360Oil and Gas Accounting II3
ACC 4380Oil & Gas Acc Colloquium3
Total Semester Credit Hours12