The Advanced Finance & Accounting for Oil & Gas

Oil and Gas Accounting Course Description:

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, utilize and critically evaluate information on E&P activities, applying specialist industry knowledge and relevant analytical skills. 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, utilize 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.

Targeted Audience for This Finance & Accounting for the Oil & Gas Industry Training Course?

Key Personnel in the Oil and Gas Industry
Accountants & Finance Professionals responsible for financial accounting, treasury, budget preparation, and management reporting
Process and Non-technical professionals who require a more in-depth understanding of strategic issues facing the Oil & Gas sector now and, in the future,
Managers involved in making CAPEX decisions
Bankers and Professionals who work in Energy Lending.

Targeted Industries for The Finance & Accounting for the Oil & Gas Industry Training Course

Oil and Gas Industries.

Learning Impact & Outcomes of The Finance & Accounting for the Oil & Gas Industry Training Course

By the end of this course the participants will be able to:

Identify & evaluate the challenges facing the Oil & Gas sector now & in the future.
Use skills & techniques to assist with key strategic decisions facing their company.
Recommend appropriate financing decisions & make capital investment decisions.
Advice on methods to eliminate or reduce financial risks facing Oil & Gas companies.
Manage new projects/initiatives effectively, meeting Strategic Aims & Objectives.

Training Methodology

Training is undertaken through lectures assisted by audio & visual presentations. Trainee participation is ensured through assignments. Case studies also will be discussed to help the audience with the training content for this financial accounting course.

Course Agenda:

Day 1: Strategic Issues Facing the Oil & Gas Sector

The Nature of the Oil & Gas sector.
Current & Future Challenges within the Sector - A question of Supply & Demand Volatility: Demand, Energy Prices, Exchange Rates, Interest Rates.
Resources & Reserves and the need for Research & Development.
Financial Issues Impacting on Strategic Development and Growth.
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.

Day 2: Advanced 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

Day 3: Accounting for Assets

IAS 16: Property, Plant and Equipment
Depletion, Depreciation & Amortization (“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.

Day 4: 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

Day 5: 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.

Upcoming Events

Sharm El-Sheikh

10 - Jul 2023

The Advanced Finance & Accounting for Oil & Gas Industry Training Course

The Fees: € 3000

Barcelona

10 - Jul 2023

The Advanced Finance & Accounting for Oil & Gas Industry Training Course

The Fees: € 4800