A Highly Interactive Program

Oil and Gas Financial Accounting & Reporting

A Strategic Accounting & Financial Analysis for Oil and Gas Industry

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Venue Starting Date Duration Fees Join Now
Dubai - UAE , 20240226 26 - Feb - 2024 5 - Day $4,950 Register
Dubai - UAE , 20240506 06 - May - 2024 5 - Day $4,950 Register
Online - Virtual , 20240626 26 - Jun - 2024 2 Hrs X 8 Sessions $2,100 Register
Dubai - UAE , 20240909 09 - Sep - 2024 5 - Day $4,950 Register
Online - Virtual , 20241029 29 - Oct - 2024 2 Hrs X 8 Sessions $2,100 Register
Dubai - UAE , 20241125 25 - Nov - 2024 5 - Day $4,950 Register
Sydney - Australia , 20241216 16 - Dec - 2024 5 - Day $5,950 Register

COURSE OVERVIEW

Oil & Gas Accounting and Financial management is crucial to energy firms. Companies that practice sound account and financial management maximise the components of good fiscal governance. It also helps to optimise cost-effectiveness and cost-efficiency. Furthermore, quality financial reports and statements are essential for controlling operations and making decisions. Creditors and investors rely on reliable and timely financial data to assess the company’s future sustainability.

This Oil and Gas Financial Accounting & Reporting course gives you the most recent financial knowledge and abilities to deal with challenges. It looks at the internationally accepted accounting procedures and methodologies used in the Oil & Gas sector to report costs, asset values and profit. You will also learn risk management strategies to manage oil prices, exchange rates and interest rate volatility using derivatives. This course will cover the effective financial evaluations and project management skills required for the industry.

LEARNING OBJECTIVES

By the end of the Oil and Gas Financial Accounting & Reporting training course, participants will be able to:

  • Evaluate the long-term strategic issues facing the Oil and Gas industry
  • Analyze the financial, economic, and commercial drivers
  • Evaluate performance using key financial accounting methods and techniques
  • Understand the Analysis of Joint Venture and Product Sharing Agreements
  • Deliver more timely and useful information to decision-makers
  • Improve project controls, measurement & performance reporting & overall corporate governance

TARGET AUDIENCE

This Oil and Gas Financial Accounting & Reporting training course is suitable for a wide range of professionals but will greatly benefit:

  • Accountants and 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 financial accounting reporting, project management, and forecasting techniques
  • Financial Planners and Cost Analysts
  • Line/Unit Heads with direct planning and budgeting responsibility
  • Account Personnel and Business Consultants

TRAINING METHODOLOGY

This highly practical and results-oriented program is based on adult learning concept. This seminar will comprise a range of learning activities, including tutor presentations, question and answer opportunities, demonstration and practice of analytical techniques, group exercises and discussions, and case studies and market information sources. Whilst the theoretical background to financial management will be explained and justified, the main emphasis will be on putting these into a real-world context by providing a practical ‘toolkit’ of financial techniques

Pre & Post course assessments will be used to measure the effectiveness of this training and measure the skill and ability of participants.

COURSE CONTENTS

Module 1 - Oil and Gas Industry Overview & the Role of Accounting and Finance

  • KeyTopics:

    • The Nature of the Oil & Gas sector
    • Current & Future challenges within the sector – a question of Supply & Demand
    • The Role of the Finance professional
    • Various financial reporting frameworks
    • Oil and Gas financial accounting and reporting principles

Module 2 - Oil and Gas Accounting Methods and Techniques

  • KeyTopics:

    • International Financial Reporting Standards (IFRS) & International Accounting Standards (IAS) relevant for oil and gas companies
    • Specific financial accounting treatment in the Oil & Gas sector
    • Accounting for Costs – Acquisition; Exploration; Development & Production
    • Accounting for Assets – Asset Recognition; Depreciation Depletion & Amortisation and Asset Retirement
    • Accounting for Revenue

Module 3 - Partnerships and Understanding Financial Information

  • KeyTopics:

    • Joint Ventures and Product Sharing Agreements
    • Financial Performance, Position and Cash Flow Statements
    • Ratio Analysis and Interpretation
    • Analysing and Interpreting’ Energy Specific’ Ratios

Module 4 - Risk Management

  • KeyTopics:

    • Understand the Market and Risks
    • Importance and Application of Risk Management
    • Hedging using Derivatives
    • Developing and Managing Contingencies
    • Probabilistic Methodology using Monte Carlo Simulation

Module 5 - Capital Contracting and Project Performance and Reporting

  • KeyTopics:

    • Identify The Business Needs & Developing, Measuring, and Reporting KPIs
    • Project Lifecycle and Project Planning/Management
    • Probabilistic Methodology Using Monte Carlo Simulation
    • Developing and Challenging a Cost Estimate
    • Earned Value Management for Oil and Gas Profitability Index (PI)

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