Mastering Finance & Accounting in the Oil & Gas Industry Event, 23.Dec.2024

Overview:

This comprehensive five-day program offers specialized insights into the financial accounting aspects of the oil & gas industry. By exploring the key differences between financial accounting and management accounting, as well as finance and accounting, participants will develop a holistic understanding of accounting and finance within the context of the oil & gas sector. Acquire the critical skills and knowledge necessary for making informed decisions and driving organizational success. Upon completion, participants will receive a certification in finance and accounts.

Target Audience:

• Financial Managers and Controllers.
• Accountants and Financial Analysts.
• Oil & Gas Industry Professionals seeking a deeper understanding of finance and accounting.
• Professionals interested in obtaining a certification in finance and accounts.

Targeted Organizational Departments:

• Finance and Accounting Departments.

• Business Development and Strategic Planning Departments. 

• Risk Management and Internal Audit Departments.

Targeted Industries:

• Oil & Gas Industry Energy and Utilities.
• Industry Financial Institutions servicing the Oil & Gas Industry.

Course Offerings:

Participants will gain the ability to:

• Understand financial accounting principles in the context of the oil & gas industry.
• Differentiate between financial accounting and management accounting.
• Grasp the distinctions between finance and accounting.
• Apply these principles to improve organizational performance.
• Earn a certification in finance and accounts.

Training Methodology:

This training course combines theoretical sessions and practical case studies to enhance comprehension and application. Real-world scenarios from the oil & gas industry are utilized for interactive sessions and group work. Each day concludes with a reflective review to consolidate learning and provide feedback. Our goal is to ensure that participants develop a strong understanding of finance and accounting as they apply to the oil & gas industry.

Course Toolbox:

• Comprehensive Workbook on 'Finance and Accounting for the Oil & Gas Industry'

• Practical case studies from the Oil & Gas industry

• Checklists and templates for financial accounting

• Online resources for continued learning after the course

• Access to a network of industry professionals

Course Agenda:

Day 1: Strategic Issues Facing the Oil & Gas Sector

Topic 1: The nature of the Oil & Gas sector

Topic 2: Current and future challenges within the sector

Topic 3: Financial issues impacting strategic development and growth

Topic 4: Managing macroeconomic factors in the industry

Reflection & Review: Discussion on key learnings and takeaways from Day 1

Day 2: Advanced Accounting Issues in the Oil & Gas Sector

Topic 1: Revenue recognition

Topic 2: Costs in acquisition, exploration, development, and production of new reserves

Topic 3: Crack spread and its impact on refineries and petrochemical companies

Topic 4: IFRS standards related to the oil & gas sector

Reflection & Review: Recap of the day's topics with interactive Q&A

Day 3: Accounting for Assets

Topic 1: IAS 16: Property, Plant and Equipment

Topic 2: Depletion, Depreciation & Amortization (DD&A)

Topic 3: IAS 36: Impairment of Assets

Topic 4: IAS 37: Provisions, Contingent Liabilities, and Contingent Assets

Topic 5: IAS 38: Intangible Assets

Topic 6: IAS 39 & IFRS 9: Financial Instruments recognition and measurement

Reflection & Review: Overview of the day's topics and feedback session

Day 4: Financial Performance Analysis and Evaluation

Topic 1: Measuring reserves and their impact on refineries and petrochemical companies

Topic 2: Evaluating operational and fiscal performance

Topic 3: Financial analysis, including income statements, balance sheets, and cash flow analysis

Topic 4: Dupont analysis for improving Return on Equity (ROE)

Topic 5: Evaluation of share price and investment performance

Reflection & Review: Debrief on the day's learning with practical examples

Day 5: Integration and Certification

Topic 1: Integrating financial accounting principles into the oil & gas industry context

Topic 2: Reviewing key concepts and case studies

Topic 3: Final assessment and certification in finance and accounts

Reflection & Review: Final reflections, exam preparation tips, and feedback session

How This Course is Different: Our 'Advanced Accounting & Finance for the Oil & Gas Industry Training Course' stands out from other similar programs due to its exclusive focus on the oil & gas industry. The course content is tailored to address the unique accounting and financial challenges faced by this sector. Furthermore, the course offers a certification in finance and accounts, adding significant value to participants' professional growth.