+971 2 557 7389 info@petroknowledge.com
Petroknowledge

An Intensive 5 Day Training Course

Oil & Gas Accounting
& Performance Measurement

Print this Course

Home » Courses » Finance, Budgeting & Accounting » Oil & Gas Accounting & Performance Measurement

Course Dates, Venues and Fees

Code Date Venue Fee($)
FI108 19 - 23 Feb 2018 London - UK $5,500
FI108 13 - 17 Aug 2018 Vienna - Austria $5,500
FI108 10 - 14 Dec 2018 London - UK $5,500

Why Choose this Training Course?

This training course is designed to develop the essential skills necessary to prepare and evaluate Oil & Gas Accounting and Performance Measures. It focuses on the risks currently facing the sector including oil price volatility and changing patterns of demand.

This PetroKnowledge course focuses on the latest techniques to evaluate Financial, Operational & Social Performance as well as relevant International Financial Reporting Standards (IFRS) relevant for the preparation of Oil & Gas accounts. Delegates will therefore be able to prepare financial statements in line with IFRS and make strategic decisions to improve financial performance of their organization.

This training course will highlight:

  • The major risks of the Oil & Gas sector and the tools to manage those risks
  • How to Prepare Financial Statements in line with IFRS
  • The latest international tools and techniques to develop skills of evaluation and performance measurement
  • Issues facing multinational companies and those engaged in Joint Ventures or Production Sharing Agreements
  • The lessons to be learnt from an evaluation of leading international oil & gas companies

Training Objectives click here

What are the Goals?

At the end of this training course, participants will learn to:

  • Evaluate the Major Issues facing the Oil & Gas sector
  • Prepare Financial Statements in accordance with International Financial Reporting Standards (IFRS)
  • Evaluate the Financial and Operational Performance of international Oil & Gas companies
  • Evaluate the importance and contribution of Oil & Gas to the National Governments and the Fiscal Budget
  • Recommend Strategic Plans to Improve Performance

Target Audience click here

Who is this Training Course for?

This PetroKnowledge course is ideally suited to those who work in the Oil & Gas sector particularly those in an accounting and performance measurement role.

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

  • 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

Training Methods click here

How will this Training Course be Presented?

This Oil & Gas Accounting training course is highly interactive with delegates actively engaged in the discussion and evaluation of Oil & Gas case studies throughout the course. Delegates are taken through the latest techniques to evaluate performance and learning is further reinforced by examination of annual reports of international oil and gas companies. At the end of each day, participants have an opportunity for a one-to-one session with the course leader to develop their understanding further and will be provided with course notes and examples in both hard and soft copy.

Daily Agenda click here

Day One: The Oil & Gas Sector – Identifying the Issues affecting Accounting & Performance Measurement

Competency Description: Working in the Oil & Gas sector it is essential that you understanding the issues currently affecting the sector

Key behaviours

  • Evaluating the impact of major changes
  • Making strategic decisions
  • Managing change
  • Communicating decisions

Topics to be covered

  • 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

Day Two: Major Accounting Issues in the Oil & Gas Sector

Competency Description: The reporting of financial statements in accordance with IFRS is a legal requirement and will impact on the Profit recoded. Your knowledge and ability to work within IFRS requirements is therefore vital

Key behaviours

  • The identification of major costs
  • Reporting accounts in accordance with IFRS
  • Evaluating the impact of financial reports
  • Analyzing performance

Topics to be covered

  • 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

Day Three: Accounting for Assets

Competency Description: Accounting for Assets in accordance with IFRS is a legal requirement. In addition, given the importance assets play in the oil and gas sector your understanding of the relevant IFRS is essential

Key behaviours

  • The accounting of major assets
  • Reporting accounts in accordance with IFRS
  • Evaluating the impact of different policies
  • Analyzing performance

Topics to be covered

  • 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

Day Four: Measuring Financial Performance

Competency Description: You will measure the financial performance of leading Oil & Gas companies in order to learn lessons to improve your own financial performance

Key behaviours

  • Evaluation of financial statements
  • Develop analytical skills
  • Discuss initiatives to improve performance
  • Assess the impact of change on performance

Topics to be covered

  • 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

Day Five: Measuring Operational & National/Government Efficiency and Performance

Competency Description: Oil & Gas are vital National/Government resources. You must therefore understand the impact of price volatility, the need to find new resources and the impact on fiscal budgets.

Key behaviours

  • Evaluate reserves with reference to ratios
  • Recommend measures to improve efficiency
  • Evaluate fiscal budgets
  • Report findings

Topics to be covered

  • 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

Related Courses click here


Register Quick Enquiry Request an In-House Proposal

DMCA.com Protection Status

Home » Courses » Finance, Budgeting & Accounting » Oil & Gas Accounting & Performance Measurement
PetroKnowledge Training


Oil & Gas Accounting
& Performance Measurement


Code Date Venue Fees
FI108 19 - 23 Feb 2018 London - UK $5,500
FI108 13 - 17 Aug 2018 Vienna - Austria $5,500
FI108 10 - 14 Dec 2018 London - UK $5,500



Why Choose this Training Course?

This training course is designed to develop the essential skills necessary to prepare and evaluate Oil & Gas Accounting and Performance Measures. It focuses on the risks currently facing the sector including oil price volatility and changing patterns of demand.

This PetroKnowledge course focuses on the latest techniques to evaluate Financial, Operational & Social Performance as well as relevant International Financial Reporting Standards (IFRS) relevant for the preparation of Oil & Gas accounts. Delegates will therefore be able to prepare financial statements in line with IFRS and make strategic decisions to improve financial performance of their organization.

This training course will highlight:


Training Objectives

What are the Goals?

At the end of this training course, participants will learn to:

Target Audience

Who is this Training Course for?

This PetroKnowledge course is ideally suited to those who work in the Oil & Gas sector particularly those in an accounting and performance measurement role.

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

Training Methods

How will this Training Course be Presented?

This Oil & Gas Accounting training course is highly interactive with delegates actively engaged in the discussion and evaluation of Oil & Gas case studies throughout the course. Delegates are taken through the latest techniques to evaluate performance and learning is further reinforced by examination of annual reports of international oil and gas companies. At the end of each day, participants have an opportunity for a one-to-one session with the course leader to develop their understanding further and will be provided with course notes and examples in both hard and soft copy.

Daily Agenda

Day One: The Oil & Gas Sector – Identifying the Issues affecting Accounting & Performance Measurement

Competency Description: Working in the Oil & Gas sector it is essential that you understanding the issues currently affecting the sector

Key behaviours

Topics to be covered

Day Two: Major Accounting Issues in the Oil & Gas Sector

Competency Description: The reporting of financial statements in accordance with IFRS is a legal requirement and will impact on the Profit recoded. Your knowledge and ability to work within IFRS requirements is therefore vital

Key behaviours

Topics to be covered

Day Three: Accounting for Assets

Competency Description: Accounting for Assets in accordance with IFRS is a legal requirement. In addition, given the importance assets play in the oil and gas sector your understanding of the relevant IFRS is essential

Key behaviours

Topics to be covered

Day Four: Measuring Financial Performance

Competency Description: You will measure the financial performance of leading Oil & Gas companies in order to learn lessons to improve your own financial performance

Key behaviours

Topics to be covered

Day Five: Measuring Operational & National/Government Efficiency and Performance

Competency Description: Oil & Gas are vital National/Government resources. You must therefore understand the impact of price volatility, the need to find new resources and the impact on fiscal budgets.

Key behaviours

Topics to be covered

Print Page

© 2017. 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.


Sending your message. Please wait...

Close

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Download PDF

© 2017. 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.


Sending your message. Please wait...

Download PDF Click here to download PDF file Close

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Download The Complete PetroKnowledge Training Schedules Here

Quality Assured Training

PetroKnowledge is one of the exclusive group of training providers who have been awarded the prestigious ISO 29990:2010 accreditation.

ISO 29990:2010 ISO 29990:2010 & ISO 9001:2015

Our Training Partners

We are an approved training provider and partner to over 10 global institutions.
We believe in training excellence and our partners are a testament to that commitment.

Institute of Leadership & Management
Institute of Marine Engineering, Science and Technology
 Maintenance & Reliability Professionals
Energy Institute
merican Society for Nondestructive Testing
American Welding Society
Project Management Institute
German Association for Water, Wastewater and Waste (DWA).

The PMI® Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.