Oil & Gas Accounting & Performance Measurement Professional

NAME OF THE COURSE
Oil & Gas  Accounting  & Performance Measurement Professional
 
CERTIFICATION
Oil & Gas  Accounting  & Performance Measurement Professional
 
COURSE OVERVIEW
The programme is designed specifically for those who have a basic understanding of accounting but who need to understand more about accounting and financial reporting policies and practices in the upstream oil and gas industry.
Topics covered include the successful efforts and full cost methods of accounting, the classification of assets as tangible or intangible, the unit of the production method for depreciation of capitalised costs, the testing for impairment of oil and gas assets, and accounting for removal and restoration of oil and gas facilities.
Our services and solutions connect learning to the workplace, allowing employers to manage and assure the competence of workers at every level.
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.
Participants in this programme gain a broader and deeper appreciation of the role of our team and the context in which it operates, encouraging a more confident and proactive approach to their work, developing awareness of issues, and preparing them for increased responsibility.
 
TRAINING DURATION
Total Training Hours : 10-14 Hours
Training Duration      : 2 Days
Total Training  Days  : 1-2 Working Days
 
TRAINING SCHEDULE
Weekdays (Sunday to Thursday)
Regular Sessions : 4 – 6 Hrs Per day (9am to 2pm or 3.00pm to 9.00 pm)
Food & refreshments Included
Weekends (Friday & Saturday)
Fast Track Sessions: 8 Hours per day (9am to 5pm)
Food & refreshments Included
 
CERTIFICATION
Globally recognized certificate from “Kings Global Career Academy”
 
TEST
No
 
LEARNING AIDS
Yes
 
COURSE MATERIAL
Hard & Soft Copies of Study Material
 
LANGUAGE OF INSTRUCTION
English
 
INSTRUCTOR HELPLINE
Yes
1. Email
2. Social Media (For Emergency requirements)
 
REGISTRATION REQUIREMENTS
1. Passport Copy
2. Curriculum Vitae
3. Passport size photographs
4. Course Fee
 
MODE OF PAYMENT
Cash / Cheque / Credit Card / Bank Transfer.
 
ELIGIBILITY
  • Corporate Accountants, Financial Controllers, Treasury Officers, Management Accountants
  • Finance Staff in General Accounting, Payables, Receivables, Inventory, Fixed Assets, etc.
  • Joint Venture Accountants and Auditors
  • External, Financial and Internal Auditors
  • Government Regulators and Auditors
  • Financial and Investment Analysts
 
COURSE BENEFITS
  • The essential concepts and business practices of the international oil supply, transportation, refining, and trade in the oil and gas industry
  • Fundamentals of oil economics and of crude oil transportation
  • Basic Refinery operations, economics and the environmental aspects
  • Basic Principles in crude oil pricing and overview of crude oil and refined products markets
  • Essential elements in crude oil and refined products sales contracts
  • Supply logistics – major international pipelines, shipping routes, and chokepoints
  • It seamlessly covers the wide array of critical business functions, processes, and appropriately deals with the business practices and tactics to build the necessary business acumen in the completive and low price environment
 
COURSE CONTENTS 1
 
The development and purpose of company accounts
 
Standards of financial reporting in the O&G industry to stakeholders
 
Investor Reporting
  • New investors
  • Taxation and royalties
  • Stock market intermediaries
  • The convergence of GAAP and IFRS
 
  • Effect on reporting
  • Migration paths
  • Effect on PSC reporting
  • Share pricing and O&G companies
  • Capitalisation and cash flows in the Oil & Gas Industry
 
Sourcing capital
 
  • Capitalising E&P projects
  • Effects of IFRS
  • Capital maintenance
  • Sources of capital
  • Oil & Gas Value Chain and Accounting Issues
 
  • E&P Exploration & evaluation, borrowing costs and development expenditures
  • P&S Reserves and resources
  • Product valuation issues, impairment of assets, disclosures, decommissioning
  • Royalties and income taxes
  • Emission trading schemes
 
Company accounts, PSA’s and Joint Ventures
 
Accounting for multiple efforts
 
Joint ventures – GAAP & IFRS
  • Business combinations
  • Currency issues
  • Accounting treatments
  • Analysis of financial statements
 
Analytical tools
  • Full cost
  • Successful efforts
  • Decommissioning obligations
 
Auditors and reporting to investors in the oil and gas industry
 
External audit investigations and reports
 
  • The auditor’s ‘Opinion’
  • True and Fair
  • Sarbanes Oxley
  • Internal audits
  • Ethical issues
 
  • Corporate governance
  • Government regulation
  • Investor confidence and share prices
  • Creative accounting and investor protection
 
  • Investment finance in the oil and gas industry
 
  • Processes and lead times
 
Sources of external finance
  • Financial markets
  • Investment criteria
  • Roles of intermediaries in the financial markets
  • Shell and BP – Performance and Share Prices
 
Analysis of Shell Oil and BP Accounts
  • DuPont hierarchy of ratios
  • Theoretical conclusions and live feeds from London Stock Exchange
  • Influencing factors
 
 
COURSE CONTENTS 2
 
THE OIL & GAS SECTOR – IDENTIFYING THE ISSUES AFFECTING ACCOUNTING & PERFORMANCE MEASUREMENT
 
  • Latest Events in the Oil & Gas sector- 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
 
  • Revenue Recognition
  • Costs in Acquisition, Exploration, Development and Production of new oil or natural gas reserves
  • Break-Even Oil, Cost Oil & Profit Oil
  • Accounting Approaches – The “Successful Efforts” (SE) Method or the “Full Cost” (FC) Method
  • IFRS in relation to the Oil & Gas Sector
  • IFRS 6: Exploration for and 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
  • Finding; Development & Production Capability & Efficiency
  • Evaluating the Operational Performance of leading international companies in the sector
  • Earned Value Added Analysis of Projects
  • Evaluating the Fiscal Budgets of Oil & Gas producing countries
National/Government Measures of Efficiency & Performance