Day 1: Standards and Reporting in Oil & Gas
Courses Finder :
Oil And Gas Accounting And Performance Measurement
Course
Accounting, Finance & Budgeting
Course Overview
This oil and gas accounting program develops an essential understanding of Oil and gas Exploration and production (E&P) accounting, reporting, and performance measurement issues and practices.
The performance measurement in management accounting course enhances your ability to prepare, use, and critically evaluate information on E&P activities, integrating specialist industry knowledge and relevant analytical skills with performance measures in management accounting.
The oil and gas accounting program is specifically tailored for individuals with a foundational knowledge of accounting who are keen to gain a deeper insight into the accounting and financial reporting policies and practices prevalent in the upstream oil and gas industry.
Topics for this oil and gas accounting management course cover successful efforts and complete cost accounting methods, assets classification as tangible or intangible, unit of production method for depreciation, impairment testing of oil and gas assets, and accounting procedures for the eventual removal and restoration of oil and gas facilities.
Course Objectives
By the end of this oil and gas accounting management course, participants will be able to:
- Develop an understanding of companies' accounting standards, policies, and practices in the Oil & Gas Exploration & Production industry.
- Appreciate the financial implications of Production Sharing Contracts and other agreements between host governments and international companies.
- Examine issues and guidelines in accounting for Joint Ventures.
- Identify and apply international and national accounting standards pertinent to the E&P industry.
- Enhance the relevance and reliability of financial reports to meet users' needs more effectively.
- Utilize publicly available information to benchmark companies' business performance in the E&P industry.
Course Audience
Corporate accountants, financial controllers, treasury officers, management accountants.
Finance staff in general accounting, payables, receivables, inventory, and fixed assets.
Joint venture accountants and auditors.
External, financial, and internal auditors.
Government regulators and auditors.
Financial and investment analysts.
Course Methodology
This Oil & Gas and Petrochemical Accounting & Performance Measurement training course is highly interactive with delegates actively engaged in the discussion and evaluation of Oil & Gas case studies throughout the course. Delegates are taken through the latest techniques to evaluate performance and learning is further reinforced by examination of annual reports of international oil and gas companies.
At the end of each day, participants have an opportunity for a one-to-one session with the training course leader to develop their understanding further and will be provided with course notes and examples in both hard and soft copy.
Course Outline