Main Settings

1. Aggregation Date - This is the main date setting as a starting point to begin reporting cash flows.  No economic reporting will occur before this date -but- some calculations can precede this date such as CAPEX and reversion instances depending on settings.  Note that a dynamic determination is made on actual cash flow aggregations where the earliest date of "As Of" will be used to begin report -but- cannot precede this aggregation date.
2. Currency: The only selection is USD but this is to prepare for future implementation of international economics.
3. Reporting Period: Calendar of Fiscal annualization.
4. Income tax - This opens up a place to put in your State and Federal tax rates as time-series as well as selections of Percentage Depletion and NOL Carryforward (unseen if "No" is selected).  Select No to only run before-tax calculations or Yes to run AFIT econ via commensurate selections of DD&A models and reporting output.
5. 15% Percentage Depletion - Select Yes if you are an independent oil and gas company with less than 1000 BOE/d production and want to use this depletion method.  CC looks at 15% of gross revenue and 50% of net revenue and uses the lesser per IRS stipulation.  Then, if there is also a cost depletion model applied to a CAPEX item, CC will use the greater depletion each month either via the cost or percentage depletion methods.
6. Enable Carry Forward (NOL) - Default is No to allow full deduction each year even when income is negative.  Yes will enable Carry Forward (NOL) for future tax deduction.  This does not aggregate across properties but is on a well-by-well basis so that if DD&A is left over after the final period, it will be deducted at economic limit of the well.
7. State Income Tax - Applied as a percentage of taxable income determination.
8. Federal Income Tax - Applied as a percentage of taxable income determination but after State Income Tax is deducted.
   

1. Discount Method
1. Change the compounding frequency of the discount calculation if desired (default is yearly). 
2. IRR is annualized for all values of N, but N=1 is the true annual IRR.  Selecting any other N results in a "period IRR" (like monthly, annualized) which is industry accepted but relates back to the Annual IRR via this equation: (1+PeriodIRR)*PeriodsPerYr - 1).  So 3% with N=12 ==> (1+.03)^12-1 = 42.58% (Where the monthly annualized IRR ==> (.03*12 = 36.00%).
3. Default and recommended is Yearly (N=1) with Mid-Month Cash Accrual Time below.  This is the only method that matches to the recommended method in ARIES of “MONTHLY”.  No other CC or ARIES discounting method match.  
   
4. Cash Accrual Time - Whether to Discount Mid Month or End of Month.
5. First Discount, Second Discount - Changes the default discounting columns in economic table outputs and for triggers that rely on discounted cash flows.  These are specifically named in economic outputs.
   
6. Discount Table - Additional discounting inputs to allow a distribution of economic outputs for NPV.
   

Reporting Units

Units for display in the tables.  Note, these aren't for the input entries as those are usually set where you enter them but rather for output scaling.  Note that changing from defaults here will also be reflected in the PowerBI Reports but without *UNITS* as those do not propogate from scenario to PBI, only raw numbers.

BOE Conversion