PASSA Meeting

Tuesday, May 23rd

10:30 am – 1:00 pm (lunch provided-free)

San Antonio Petroleum Club

Sign-in Begins at 10:15 am

Guests are welcome:  lunch fee is $25

Speaker 1: Kirk Foreman – 11:00 – 11:50 am

Topic:  MFI – 40 re-write (24 Month Adjustment Period for Joint Account Adjustments)

CPE offered:  1 hour
Program Level:  Basic
Prerequisites:  None
Advanced Preparation:  None
Field of Study:  Group Live

NASBA Sponsor Council of Petroleum Accountants Societies, Inc. (COPAS) PO Box 21272, Wichita, KS 67208

Course Description

This will be a Joint Interest Committee presentation and discussion regarding the contents of draft four of the re-write of MFI – 40 to determine if the document is ready for a JI and Audit Committee vote at the Summer 2023 virtual JI and Audit conference.

Learning Objectives

Review the MFI – 40 draft four for accounting content that will meet today’s needs of the Petroleum Industry.  Once reviewed and discussed, attendees will understand the MFI – 40 draft document.  If the PASSA determines changes are needed, the changes will be documented and provided to the MFI – 40 drafting team.

Speaker Bio – Kirk Foreman has recently retired from EOG Resources as Accounting Manger over frac sand purchase and delivery, Lease Accounting, and Lease Operating Expenses for the Eagle Ford San Antonio division.   He has worked in the Oil and Gas Industry for 33 years.  He currently serves as President of the San Antonio COPAS society and serves on the COPAS National board of directors.  Kirk holds a BBA in Accounting from the University of Texas at Arlington and is Certified Public Accountant.  He currently works as an Oil and Gas accounting/audit consultant.

Speaker 2:  Tom Wierman, COPAS Executive Director – 12:10 – 1:00 pm

Topic:  The State of COPAS.  Where is the Organization Headed?

CPE offered:  1 hour
Program Level:  Basic
Prerequisites:  None
Advanced Preparation:  None
Delivery Method:  Group Live
Field of Study:  Specialized Study – Basic Program

NASBA Sponsor Council of Petroleum Accountants Societies, Inc. (COPAS) PO Box 21272, Wichita, KS 67208

Course Description

This course will update the state of COPAS National and local societies.  This also includes the current COPAS marketing initiatives, qualities of a good leader, upcoming events, and the status of the APA® review course.

Learning Objectives

By the end of the presentation, the attendees will be better equipped to:

1. Recall the details of COPAS marketing strategy.
2. Recall the key qualities of a good leader.
3. Recall the prerequisites necessary to take the APA® Exam.

Speaker Bio – Tom Wierman was hired as the 8^th COPAS Executive Director on March 1, 2012.  Prior to that Tom worked as an E&P accountant for nearly 30 years.  Tom held assignments in Wichita, São Paulo and Rio de Janeiro (Brazil) and Calgary Alberta (Canada).

Tom has served as a society president and a board member for both the Kansas and Canada societies.  Active at the COPAS level he served as Tax Committee Chair, was a board member for six years and served as COPAS president in 2009. Tom was also a major contributor on the COPAS 50th Anniversary celebration in 2011.  Tom passed the APA® exam in September 2022.  He was awarded the COPAS Eagle Award in 2013 and the Ring of Honor in 2021.

Tom is married to wife Paula.  They have three children: Chris, Molly, and Justin.

Tom is involved in many different things.  He is active in his church, directs a choir, is a past member of the school booster club, completed two terms as President of the Wichita Swim Club, and participates in Habitat for Humanity building projects.  When he finds time, he enjoys do-it-yourself projects around the house.  He has found lifting weights to be an enjoyable activity and devoting more time to that whenever possible, especially now that he is retired from officiating soccer.

Fun Fact:  Tom’s wife gave him a T-shirt one time that said, “Stop Me…I think I’m going to volunteer again.”  Tom has not learned to say “no.”