Early Sales Hit Record High for PDI's 7th Edition of Petroleum Accounting: Principles, Procedures, & Issues

"Hot Industry" creates great demand for the latest information

DENTON, Texas, March 5, 2012 /PRNewswire-USNewswire/ -- One month after being released, the energy industry reference Petroleum Accounting:  Principles, Procedures, & Issues has sold and shipped nearly half of its first printing.

(Photo: http://photos.prnewswire.com/prnh/20120305/DC63606)

Dennis Jennings, PDI's Director of Energy Programs, says the 7th Edition is selling quickly, he believes, because of demands from within the industry. "Energy professionals must understand how, and from where, the financial numbers they deal with every day are generated.  This book provides the answers they need," Jennings said.

Completely updated from previous versions, Petroleum Accounting:  Principles, Procedures, & Issues features essential industry accounting and reporting changes, added Jennings. 

The 7th Edition not only covers industry accounting and reporting changes and updates from the SEC, FASB, EITF, and the IRS, but also tackles many recent developments affecting all energy professionals, including:

• The SEC's release on Modernization of Oil and Gas Reporting, and FASB's compliance amendments;
• FASB's release of standards covering issues such as fair value and business combinations, all relative to oil and gas companies;
• Explosive growth in unconventional oil and gas production methods;
• Extreme fluctuation of oil and gas prices;
• Regulations resulting from recent incidents affecting the environment and worldwide financial crises; and
• Political issues affecting the industry worldwide.

"We've been pleased with the initial feedback received from purchasers of the 7th Edition. In particular, buyers have singled-out topics such as derivatives accounting, risk management, and retirement obligations with high praise," said PDI President Ken Robertson.

The book is available for immediate distribution, selling for $225, plus applicable shipping and tax. Copies may be ordered through the web site at www.petroleumaccounting.org or by calling 800.433.5676.

In addition, Petroleum Accounting:  Principles, Procedures, & Issues is accompanied by a compact disk (CD), which provides a convenient means of research for forms, regulations, and often-used reference tools.

About The Professional Development Institute
The Professional Development Institute (PDI), located at the University of North Texas, is a 501(c)(3), not-for-profit education corporation that provides versatile, innovative, cost-effective training programs to professionals worldwide.  PDI is recognized as the world's leading provider of oil and gas accounting education as well as training programs for virtually all professional services areas.  Hundreds of companies and more than a half-million people have teamed up with PDI for training solutions over the past 35 years. Additional information about PDI can be found at www.pdi.org.

SOURCE Professional Development Institute