FI22
Course Contents
Module 1 - Oil and Gas Industry Overview & the Role of Accounting and Finance
Key Topics
- 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
Key Topics
- 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
Key Topics
- 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
Key Topics
- 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
Key Topics
- 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)
