An Intensive 5-day Training Course
Finance & Accounting for the Oil & Gas Industry
Preparing and Evaluating Financial Statements in line with International Requirements
CLASSROOM DATES
INTRODUCTION
The Finance & Accounting for the Oil & Gas Industry Training Course provides in-depth knowledge and essential skills for navigating the unique financial challenges and opportunities within the Oil & Gas sector. This Oil & Gas Accounting Training Course covers industry-specific accounting practices, financial management techniques, and compliance with international standards such as IFRS 6 (Exploration for and Evaluation of Mineral Assets). Participants will gain valuable insights into critical topics, including the "Successful Efforts" and "Full Cost" (FC) methods, accounting for reserves, resources, and assets, and evaluating financial statements for strategic decision-making.
Our Oil & Gas Finance Training Course emphasizes the application of best practices and up-to-date techniques to help professionals effectively manage finance and accounting functions within this dynamic industry. Through interactive discussions and case studies, attendees will develop the skills needed to analyze, prepare, and evaluate financial accounts, ensuring their organizations stay competitive and compliant.
Key features of this Oil & Gas Finance Training Course include:
- A comprehensive understanding of finance and accounting specific to the Oil & Gas industry.
- Evaluation of international best practices and cutting-edge techniques.
- Practical skill-building through interactive sessions and real-world scenarios.
- Analysis of current challenges and trends in Oil & Gas accounting and finance.
TRAINING OBJECTIVES
By completing this Oil & Gas Accounting Training, participants will:
- Recommend suitable methods for financing capital projects in the Oil & Gas sector.
- Evaluate capital investment proposals for strategic decision-making.
- Prepare financial statements in compliance with International Financial Reporting Standards (IFRS).
- Analyze and assess financial statements to identify and recommend organizational improvements.
- Understand and apply industry-specific accounting practices, including reserves and resources accounting.
WHO SHOULD ATTEND?
This course is designed for professionals working in or aspiring to join the Oil & Gas industry, including:
- Finance professionals responsible for raising and managing capital.
- Decision-makers involved in capital investment and budgeting.
- Professionals requiring a deeper understanding of finance and accounting in the sector.
- Line managers with finance and accounting responsibilities.
- Individuals involved in decision-making based on financial budgets and reports.
TRAINING METHODOLOGY
This Oil & Gas Finance Training Course employs engaging and effective learning techniques, including:
- Real-world case studies to demonstrate practical applications.
- Extracts from annual reports of leading international Oil & Gas companies.
- Participant-driven discussions to address relevant challenges.
- Illustrated presentations on industry-specific accounting issues, focusing on recent developments and strategic considerations.
TRAINING SUMMARY
This comprehensive Oil & Gas Finance Training Course begins with an overview of the financial challenges unique to the Oil & Gas industry and progresses to advanced accounting and financial management strategies. Participants will gain practical knowledge of preparing and evaluating financial statements in line with international standards, managing reserves and assets, and applying industry-specific methods like the "Successful Efforts" and "Full Cost" approaches.
Key takeaways include:
- Enhanced knowledge of finance and accounting tailored to the Oil & Gas industry.
- Improved ability to evaluate capital projects and financial statements.
- Expertise in international reporting standards and compliance.
- Practical skills for addressing strategic and operational financial challenges.
Participants will return to their organizations equipped with the tools and knowledge to excel in financial and accounting roles within the Oil & Gas industry, driving both compliance and organizational success.
TRAINING OUTLINE
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
- IAS 18: Revenue & IFRS 17 Revenue from Contracts with Customers
- IFRS 6: Exploration for and Evaluation of Mineral Assets
- Accounting Approaches – The “Successful Efforts” (SE) Method or the “Full Cost” (FC) 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 Amortisation (DD&A)
- Ceiling or Impairment Tests
- Decommissioning, Removal & Restoration of Assets
Day 4 : 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, Cashflow & Reserve Implications
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
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
FAQ
Do you provide assistance with hotel accommodation?
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
Do you offer customized training for organizations?
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at [email protected]
What types of training formats do you offer?
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Can you assist with visa arrangements?
Yes, we can help by issuing an official Letter of Invitation once you’ve confirmed your training registration, which can assist in your visa application process.
Who will be the senior consultant leading the training?
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us [email protected]
