|FI104||27 - 29 Oct 2019||Dubai - UAE||3,500|
|FI104||08 - 10 Dec 2019||Abu Dhabi - UAE||3,500|
*All fees are exclusive of VAT
Why Choose this Training Course?
Financial skills and knowledge are vital for all managers in all organisations. A more challenging business and economic climate and an increase in financial delegation is making this even more so.
Many senior professionals miss formal training in finance and often feel uncomfortable when discussing financial matters with their peers and financial professionals. This interactive and engaging PetroKnowledge course addresses these important issues for established managers and give “fast track” learning for young professionals early in their careers
The training course introduces crucial theory but primarily focuses on real life problems and applications to build practical understanding and use of this essential subject
Key areas covered in this training course include:
- Reading, interpreting and using financial statements (internal and external)
- Improving business cases and decision making
- Costing and presenting plans and proposals
- Working more effectively with budgets
- Delivering improved financial performance, profit & cash flow
What are the Goals?
At the end of this training course, delegates will be able to:
- Read and interpret financial statements
- Analyse business performance
- Contribute to cash and working capital management
- Build budgets and manage costs and budgets
- Present business cases and utilise financing techniques to improve decision making
Who is this Training Course for?
This training course is suitable to a wide range of professionals but will greatly benefit:
- All Professionals with financial responsibility
- Young professional being introduced to business and finance
How will this Training Course be Presented?
This PetroKnowledge training courses uses an interesting mix of lively discussion, and exercises and contemporary examples.
We focus on the practical application of concepts and ideas. Experiences from real business situations and decisions will be used to bring concepts to life. Delegates are requested to bring copies of their organization’s accounts together with internal financial reports that they work with.
Day One: The Basics – Introduction to Financial Accounts
Competency Description: This day gives an introduction to the basic of financial statements including accruals accounting, financial statements and accounting in oil and gas businesses. The day also covers the essentials of cash management.
- Demonstrates Financial Literacy
- Demonstrates Financial Understanding
- Considers cash impacts of decisions and actions
- Proactively manages cash impacts
Topics to be covered
- Accounting Terminology
- Income Statement / Balance Sheet / Cash Flow
- Accrual basis accounting
- Published report and accounts
- Oil & Gas Accounting issues
- The cash conversion cycle
- Working capital management
Day Two: Financial Analysis and Costing
Competency Description: Two essential topics 1. Financial analysis – analysis of performance from financial statements2. Costing for decision making – better cost management and better decision making.
- Analyses decisions and actions for their impact on profit and cost
- Considers impact of decisions on performance beyond profit
- Manages cost effectively
- Seeks to reduce needless cost
- Understands cost and cost terminology
Topics to be covered
- Profitability and gearing ratios
- Financial & Non-financial analysis
- The Balance Scorecard
- Analysis of Oil & Gas Companies
- Understanding and working with costs – oil & gas
- Plan for cost reduction and profit improvement
- Fixed and variable costs
Day Three: Budgeting, Forecasting& Investment Appraisal
Competency Description: The final day of the training course focuses on the practical skills of budgeting, forecasting and investment appraisal – it introduce delegates to best practice and emerging cutting edge ideas.
- Builds and Manages budgets effectively
- Builds and uses forecasts
- Understands variance analysis
- Understands investment appraisal
- Puts forward businesses cases with sound financial justifications
Topics to be covered
- The Budgeting Process - The role of budgeting
- Building a budget and managing a budget
- Better forecasts and forecasting
- Variance analysis
- Capital Budgeting
- Weighted Average Cost of Capital
- Present Value & Internal Rate of Return – method
- Financial Analysis, Modelling & Forecasting
- Cost Planning, Control & Optimization in a Major Oil & Gas Company
- Oil and Gas Financial Modelling - A Practical Approach
- Oil & Gas and Petrochemical Accounting & Performance Measurement
- Financial Accounting, Reporting & Business Support in the Oil and Gas Industry
- International Financial Reporting Standards (IFRS) for the Oil & Gas and Petrochemical Sectors(Upstream, Midstream & Downstream):