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An Intensive 5 Day Training Course

Financial Accounting,
Reporting & Business Support
in the Oil and Gas Industry

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Home » Courses » Finance, Budgeting & Accounting » Financial Accounting, Reporting & Business Support in the Oil and Gas Industry
Code Date Venue Fee($)
FI107 09 - 13 Sep 2018 Dubai - UAE 4,750

*All fees are exclusive of VAT


Why Choose this Training Course?

This training course provides you with the latest financial knowledge and skills, through the evaluation of strategic issues and challenges facing the industry. It explores the internationally accepted accounting methods and techniques used in the Oil & Gas sector to report costs, asset values and profit as well as techniques of financial evaluations. You will also examine the latest risk management techniques, enabling you to manage and control oil price, exchange rate and interest rate volatility using derivatives. In addition, we will explore project management techniques in this exciting course designed to develop and enhance your skills and knowledge of this unique industry.

This PetroKnowledge training course will feature:

  • An analysis of the major Strategic Issues affecting the Oil & Gas Industry
  • Key financial accounting methods and techniques
  • An analysis of Joint Venture and Product Sharing Agreements
  • The latest Risk Management techniques
  • The latest Project Management techniques

Training Objectives click here

What are the Goals?

By the end of this training course, participants will be able to:

  • Evaluate the long term strategic issues facing the Oil and Gas industry
  • Analyse the financial, economic and commercial drivers
  • Evaluate performance using key financial accounting methods and techniques
  • Deliver more timely and useful information to decision makers
  • Improve project controls, measurement & performance reporting & overall corporate governance

Target Audience click here

Who is this Training Course for?

This training course is suitable for a wide range of professionals but will greatly benefit:

  • Accountants and Finance Professionals responsible for financial accounting, treasury, budget preparation and management reporting
  • Process and Non-technical Professionals who require a more in-depth understanding of financial accounting reporting, project management and forecasting techniques
  • Financial Planners and Cost Analysts
  • Line/Unit Heads with direct planning and budgeting responsibility
  • Account Personnel and Business Consultants

Training Methods click here

How will this Training Course be Presented?

This PetroKnowledge training course will utilize a variety of proven techniques to ensure maximum understanding, comprehension and retention of the information presented. This course is highly interactive involving delegates in the discussion, analysis of case studies and exercises. Where appropriate, these will include real issues brought to the workshop by delegates.

Daily Agenda click here

Day One: Oil and Gas Industry Overview & the Role of Accounting and Finance

Competency Description: An understanding of the major issues currently facing the Oil & Gas sector is vital for the success of your organization. Day one covers provides detailed knowledge of those issues.

Key behaviours

  • Evaluation of the major challenges facing the sector
  • Discuss the role of finance professionals in the sector
  • Assess the financial reporting framework
  • Report findings

Topics to be covered

  • 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

Day Two: Oil and Gas Accounting Methods and Techniques

Competency Description: We explore the Accounting Methods & Techniques most relevant to the Oil & Gas sector, accounting for costs, assets and revenue in accordance with IFRS

Key behaviours

  • Discussing the implications of IFRS on financial statements
  • Calculating cost, asset and revenue values to appear in financial statements
  • Reporting accounting policies
  • Evaluating the policies adopted

Topics to be covered

  • 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

Day Three: Partnerships and Understanding Financial Information

Competency Description: The understanding of financial statements provides an understanding of business and an ability to evaluate performance in terms of liquidity, profitability and efficiency. Day three provides the skills to enable you achieve this to benefit your decision making and future performance

Key behaviours

  • Debating issues concerning Partnerships and Joint Ventures
  • Analysis of financial statements
  • Benchmarking your organization
  • Recommending actions to improve performance

Topics to be covered

  • Joint Ventures and Product Sharing Agreements
  • Financial Performance, Position and Cash Flow Statements
  • Ratio Analysis and Interpretation
  • Analysing and Interpreting ‘Energy Specific’ Ratios
  • Comparative Analysis & Benchmarking

Day Four: Risk Management

Competency Description: The management of risk is essential to the sustainability and success of any organization. Day four provides the knowledge and skills to identify and manage risk.

Key behaviours

  • Identification of major risks
  • Using Excel to assess risk statistically
  • Evaluation of various hedging strategies
  • Recommending policies and strategies to manage risk

Topics to be covered

  • Understand the Market and Risks
  • Importance and Application of Risk Management
  • Hedging using Derivatives
  • Developing and Managing Contingencies
  • Probabilistic Methodology using Monte Carlo Simulation

Day Five: Capital Contracting and Project Performance and Reporting

Competency Description: Day five enables you to identify business needs, implement and manage projects to successful completion, using forecasting and project management techniques.

Key behaviours

  • Identification of business needs
  • Estimating the Project Lifecycle
  • Forecasting revenues and costs
  • Report writing

Topics to be covered

  • Identify The Business Needs & Developing, Measuring And Reporting KPI’s
  • 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

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Home » Courses » Finance, Budgeting & Accounting » Financial Accounting, Reporting & Business Support in the Oil and Gas Industry

VAT Announcement: The Government of UAE have introduced Value Added Tax (VAT) on goods and services from 01-January-2018. In compliance with the legislation issued by the UAE Government, we will be applying a 5% VAT on the fees for all our programs and services offered from January 2018 as applicable and stipulated in the FTA circulars.

PetroKnowledge Training


Financial Accounting,
Reporting & Business Support
in the Oil and Gas Industry


Code Date Venue Fees
FI107 09 - 13 Sep 2018 Dubai - UAE $4,750



Why Choose this Training Course?

This training course provides you with the latest financial knowledge and skills, through the evaluation of strategic issues and challenges facing the industry. It explores the internationally accepted accounting methods and techniques used in the Oil & Gas sector to report costs, asset values and profit as well as techniques of financial evaluations. You will also examine the latest risk management techniques, enabling you to manage and control oil price, exchange rate and interest rate volatility using derivatives. In addition, we will explore project management techniques in this exciting course designed to develop and enhance your skills and knowledge of this unique industry.

This PetroKnowledge training course will feature:


Training Objectives

What are the Goals?

By the end of this training course, participants will be able to:

Target Audience

Who is this Training Course for?

This training course is suitable for a wide range of professionals but will greatly benefit:

Training Methods

How will this Training Course be Presented?

This PetroKnowledge training course will utilize a variety of proven techniques to ensure maximum understanding, comprehension and retention of the information presented. This course is highly interactive involving delegates in the discussion, analysis of case studies and exercises. Where appropriate, these will include real issues brought to the workshop by delegates.

Daily Agenda

Day One: Oil and Gas Industry Overview & the Role of Accounting and Finance

Competency Description: An understanding of the major issues currently facing the Oil & Gas sector is vital for the success of your organization. Day one covers provides detailed knowledge of those issues.

Key behaviours

Topics to be covered

Day Two: Oil and Gas Accounting Methods and Techniques

Competency Description: We explore the Accounting Methods & Techniques most relevant to the Oil & Gas sector, accounting for costs, assets and revenue in accordance with IFRS

Key behaviours

Topics to be covered

Day Three: Partnerships and Understanding Financial Information

Competency Description: The understanding of financial statements provides an understanding of business and an ability to evaluate performance in terms of liquidity, profitability and efficiency. Day three provides the skills to enable you achieve this to benefit your decision making and future performance

Key behaviours

Topics to be covered

Day Four: Risk Management

Competency Description: The management of risk is essential to the sustainability and success of any organization. Day four provides the knowledge and skills to identify and manage risk.

Key behaviours

Topics to be covered

Day Five: Capital Contracting and Project Performance and Reporting

Competency Description: Day five enables you to identify business needs, implement and manage projects to successful completion, using forecasting and project management techniques.

Key behaviours

Topics to be covered

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© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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