May 11, 2014 /24-7PressRelease/ -- Dallas CPAs, Jennifer Elder and Kenny Wilks, will present at the 2014 North American Petroleum Conference (NAPAC). The two-day conference is scheduled for May 15-16, 2014 at the Westin Galleria in Dallas, TX.
The presentation titled "Basics of Commodity Derivative Accounting" will be held on Thursday, May 15, 2014 from 3:55 - 5:00 pm. Exploration and Production (E&P) companies will learn about the various derivative products available to manage price risk along with their related impacts to the accounting department. Contract evaluation, valuation methods, recognition and financial statement disclosure are some of the topics that will be covered.
NAPAC brings petroleum industry professionals together for two days of intense and important educational sessions enhanced by lively, productive discussions. Each year, NAPAC features topical general sessions and detailed, track-based concurrent technical sessions, as well as annual reviews of important legislative updates. The Conference provides access to outstanding industry experienced speakers from both the government and private sectors and informative exhibits from leading industry vendors. This premier oil and gas industry accounting conference is now in its 41st year and remains a very highly regarded and well-attended event.
About Jennifer Elder
Jennifer Elder provides audit services for both public and private companies, as well as for partnerships and investment funds. She specializes in Securities and Exchange (SEC) reporting and has significant experience helping companies implement Sarbanes-Oxley Section 404 (SOX 404) internal controls and reporting. She also regularly assists companies with technical accounting issues related to derivative instruments. She has conducted training seminars and presentations on derivative accounting for the Council of Petroleum Accountants Societies (COPAS) and various clients. In addition, she has authored articles on the topic for the Petroleum Accounting and Finance Management Journal. Her extensive experience and leadership in the energy industry enable her to provide specialized expertise in assisting energy company clients with complex reporting requirements including asset retirement obligations, mergers and acquisitions, impairment analysis, and other matters.
About Kenny Wilks
Kenny Wilks assists public and private energy companies with a wide range of accounting and consulting matters, including U.S. GAAP implementation, derivative accounting and Securities and Exchange Commission (SEC) reporting. His derivative experience includes contract analysis for various products such as electricity, crude oil, natural gas, and storage. In addition, he has worked extensively with debt and equity structures which can be significantly impacted by derivative accounting rules.
In 2009, he obtained the Certified Valuation Analyst (CVA) designation as he focuses on the ever-increasing impacts of fair value accounting within energy companies. He understands the difficulties of keeping current with the changing landscape of accounting rules and strives to assist companies to comply with minimal cost and business interruption.
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