OVERVIEW

This Finance and Accounting for the Oil & Gas Industry training course provides the essential financial knowledge and skills to enable delegates to successfully recommend appropriate methods of finance and to prepare, understand and evaluate financial accounts for the Oil & Gas industry. It focuses on the finance and accounting issues specifically affecting the industry including: IFRS 6 Exploration for and Evaluation of Mineral Assets, Accounting Approaches, The “Successful Efforts” and “Full Cost” (FC) Method, Accounting for Reserves, Resources & Assets

OBJECTIVES

  • Recommend appropriate methods of financing capital projects
  • Evaluate capital investment proposals
  • Prepare financial statements in line with International Financial Reporting Standards
  • evaluate financial statements to identify and recommend improvements within their own organization

COURSE CONTENT

Day 1

Financing Growth & Capital Projects

  •     The Business & Financial Environment
  •     Risks facing the Oil & Gas industry
  •     Identifying Growth opportunities
  •     Financing Growth via Equity, Debt and/or alternative sources
  •    Evaluating Capital Investment using Payback, ARR, NPV & IRR
  • Capital Rationing – Internal & External

Day 2

Accounting in the Oil & Gas Industry

  • The Accounting System
  • Understanding the Annual Report
  • Preparing Financial Statements in accordance with IFRS
  • Revenue & IFRS 17 Revenue from Contracts with Customers
  • Exploration for and Evaluation of Mineral Assets
  • Accounting Approaches Method

Day 3

Accounting for Reserves, Resources & Assets

  • Resources & Reserves – the size and importance
  • Reserve Classification & Reserve Quantity Disclosures
  • Accounting for Assets & Relevant IFRS requirements: IAS 16, 36, 37, 38 & 39
  • Depreciation, Depletion and Amortization (DD&A)
  • Ceiling or Impairment Tests
  • Decommissioning, Removal & Restoration of Assets

Business Combinations, Joint Arrangements & Production Sharing Agreements

  • The Need for Co-operation in a Capital Intensive industry
  • IFRS 3 Business Combinations
  • IFRS 10 Preparing and Presenting Consolidated Statements
  • IFRS 11 Joint Arrangements, Joint Operations & Joint Ventures
  • Production Sharing Agreements
  • Revenue, Cost, Cash flow & Reserve Implications

Day 4

Outbound Activities Aimed At Improving:

  • Communication
  • Teamwork
  • Confidence
  • Motivation

Day 5

Financial Analysis to Evaluate Performance and Improve Efficiency

  • Analysis of Financial Statements
  • Profitability, Liquidity, Operational & Solvency measures
  • Off Balance Sheet Items & Contingencies
  • Investment Measures of Leading International Oil & Gas companies
  • Improving Return on Equity
  • Implementing change in the light of analysis

*ceremony / certificate

WHO SHOULD ATTEND

  • Those responsible for raising and managing finance
  • Those responsible for making or contributing to capital decisions
  • Professionals who require a more in-depth understanding of finance and accounting
  • Line heads with direct finance and accounting responsibility
  • Those responsible for making decisions based on finance budgets
  • Others interested

METHODOLOGY

  • Face To Face
  • Role playing
  • Post session assessment
  • Video presentation
  • Case study

PERIOD

5 working days

LANGUAGE

  • English
  • Tetun
  • Indonesia
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