Course Details

Oil and Gas Accounting and Performance Measurement training course builds up a fundamental comprehension of Oil & Gas Exploration & Production (E&P) accounting, reporting and performance measurement issues and practices. It enhances your ability to prepare, utilise and critically evaluate information on E&P activities, applying specialist industry knowledge and relevant analytical skills.

The Course is designed specifically for those who have a basic comprehending of accounting but who need to understand more about accounting and financial reporting policies and practices in the upstream oil and gas industry.

The main requirements of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) relevant to the Oil & Gas Exploration & Production industry are examined for each major phase in the field life cycle.

Learning throughout the course is achieved through illustrated presentations, group discussions, worked examples, exercises and solutions, and extracts from published financial statements of international companies.

At the end of the Oil and Gas Accounting and Performance Measurement training course , you will be able to :

Develop comprehension of the accounting standards, policies and practices used by companies in the Oil & Gas Exploration & Production industry.
Identify and know how to apply international and national accounting standards most relevant to the E&P industry.
Recognise the nature and financial implications of Production Sharing Contracts and other agreements between host governments and international companies.
Improve relevance and reliability of financial reports to better meet the needs of users
Review and use publicly available information for benchmarking the business performance of companies in the E&P industry.
Examine issues and guidelines in accounting for Joint Ventures.

Oil and Gas Accounting and Performance Measurement training course, is ideal for :

Corporate Accountants, Financial Controllers, Treasury Officers, Management Accountants
Finance Staff in General Accounting, Payables, Receivables, Inventory, Fixed Assets, etc.
Joint Venture Accountants and Auditors
External, Financial and Internal Auditors
Government Regulators and Auditors
Financial and Investment Analysts

Course Outline

5 days course

Day 1

Day 2

Day 3

Day 4

Day 5

The Oil & Gas and Petrochemical Sectors – Identifying the Issues affecting Accounting & Performance Measurement

Latest Events in the Oil & Gas and Petrochemical Sectors - price volatility and supply & demand changes
Managing the Macro-economic Factors, e.g. interest rates, exchange rates, oil prices
Resources & Reserves
Strategic Choices currently facing the Sector
Capital Investment Issues
Performance across the Sector

Major Accounting Issues in the Oil & Gas Sector and Petrochemical

Revenue Recognition
Costs in Acquisition, Exploration, Development and Production of New Oil or Natural Gas Reserves
The Crack Spread – issues facing Refineries and Petrochemical companies
Break Even Oil, Cost Oil & Profit Oil
IFRS in Relation to the Oil & Gas Sector and Petrochemical Sector
IFRS 6 Exploration & Evaluation of Mineral Assets

Accounting for Assets

IAS 16: Property, Plant and Equipment
Depletion, Depreciation & Amortisation (“DD&A”)
IAS 36: Impairment of Assets
IAS 37: Provisions, Contingent Liabilities and Contingent Assets
IAS 38: Intangible Assets
IAS 39 & IFRS 9 Financial Instruments: Recognition and Measurement

Measuring Financial Performance

Cross Sectional & Time Series Analysis
Financial Analysis: Income Statements & The Statement of Financial Position (Balance Sheet) Analysis
Cashflow Analysis and Its Importance in the Oil & Gas sector
Dupont Analysis – Evaluating and Improving Return On Equity (ROE)
Evaluation of Share Price and Investment Performance
Evaluating the Financial Performance of Leading International Companies in the Sector

Measuring Operational & National / Government Efficiency and Performance

Measuring Reserves – Life; Reserves per Well; Replacement Ratio etc. and The Impact for Refineries and Petrochemical Companies
Finding; Development & Production Capability & Efficiency
Evaluating the Operational Performance of Leading International Companies in the Sectors
Earned Value Added Analysis of Projects
Evaluating the Fiscal Budgets of Oil & Gas Producing Countries
National / Government Measures of Efficiency & Performance

Oil and Gas Accounting and Performance Measurement

Course Info

Course Details

At the end of the Oil and Gas Accounting and Performance Measurement training course , you will be able to :

Oil and Gas Accounting and Performance Measurement training course, is ideal for :

Course Outline

The Oil & Gas and Petrochemical Sectors – Identifying the Issues affecting Accounting & Performance Measurement

Major Accounting Issues in the Oil & Gas Sector and Petrochemical

Accounting for Assets

Measuring Financial Performance

Measuring Operational & National / Government Efficiency and Performance

Course Video

Oil and Gas Accounting and Performance Measurement

Course Info

Course Details

At the end of the Oil and Gas Accounting and Performance Measurement training course , you will be able to :

Oil and Gas Accounting and Performance Measurement training course, is ideal for :

Course Outline

The Oil & Gas and Petrochemical Sectors – Identifying the Issues affecting Accounting & Performance Measurement

Major Accounting Issues in the Oil & Gas Sector and Petrochemical

Accounting for Assets

Measuring Financial Performance

Measuring Operational & National / Government Efficiency and Performance

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