Course Details
Course Outline
5 days course
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
