Plains Midstream Canada, an indirect subsidiary of Plains All American Pipeline LP, has selected AX4energy Joint Venture Accounting module for Microsoft Dynamics AX, developed by mcaConnect.
Bill Forward, vice president of Finance for Plains Midstream Canada, said, 'The AX4energy Joint Venture Accounting module integrated with Microsoft Dynamics AX 2012 gives us the functionality we need, allowing us to meet our complex business transaction requirements, while ensuring our company is able to utilise the enterprise power of Microsoft Dynamics AX 2012.'
The Canadian Experience with Joint Venture Accounting
The history of joint venture accounting in Canada illustrates many of the issues raised in the prior section.
However, the wide variation in joint venture accounting
across countries puts many companies in the difficult position of having to issue financial reports in multiple forms with a wide variation in content and presentation.
Due to joint venture accounting
, there will be no impact on sales.
As stated in the preface to the recent special report on joint venture accounting:
For example, the September 1999 report on joint venture accounting included a letter from the FASB director of research and technical activities asking for comment on several specific issues and establishing a deadline of January 31, 2000.
Exploration and Production Financial Controls organizations in areas as diverse as joint venture accounting
, financial analysis and budgeting, oil and gas revenue accounting and audit.