Council of Petroleum Accountants Societies (COPAS)
A council created to discuss and solve the difficulties inherent in accounting in the oil and gas industry. Investopedia Says:
Created in 1961, COPAS discussions have created numerous guidelines and documents outlining certain methods of efficient and effective accounting in the oil and gas industry. For example, one of the documents they offer is a detailed outline of how to properly account for natural gas in each stage of production. Related Terms:
Accountant
Accounting
Barrels per Day
Commodity
Futures
GAAP
Sour Crude
Sweet Crude |