An Intensive 5-Day Training Course
Finance for Non-Finance Professionals
in the Oil & Gas Industry
Fundamentals of Finance and Accounting for Effective Financial Management
Scheduled Dates
| 25 - 29 Sep 2023 | Dubai - UAE | $5,950 |
Why Choose this Training Course?
Why Choose this Training Course?
This PetroKnowledge training course is aimed at professionals from all areas of business who require a better understanding of how finance works. Whether you are in Marketing, Human Resource Management, Maintenance or Production you will be affected by the budget available and your role will affect the profitability and cash flow of your company. The training course will take delegates from non-financial professionals to delegates who are able to understand key financial terms and contribute to the effective financial management of their department or role. The PetroKnowledge training course provides professionals from non-finance backgrounds with a fundamental grasp of the important principles of finance. This gives them the confidence to work alongside financial experts, make informed choices and fully participate in the management process.
In a competitive and uncertain economic environment all professionals need to be aware of the power and importance of finance and effective financial management. This PetroKnowledge training course will provide that understanding and develop key skills helping the company to create a finance culture throughout the organisation.
This PetroKnowledge training course will feature:
- A Glossary of Key Financial Terms to aid understanding
- Key Features of Oil & Gas Accounting to aid performance evaluation
- Preparation, Implementation & Control of Budgets and Costs
- Capital Investment Appraisal – raising finance for investment and evaluating the return
- Risk Management techniques to reduce or eliminate financial risks
What are the Goals?
What are the Goals?
By the end of this PetroKnowledge training course, participants will be able to:
- Take part in financial discussion at work armed with their understanding of key financial terms
- Understand & apply accounting & financial techniques in an Oil & Gas corporation.
- Understand and evaluate corporate financial reports
- Evaluate investment decisions
- Identify, measure and manage financial risks effectively
Who is this Training Course for?
Who is this Training Course for?
Given the importance of finance, this PetroKnowledge training course is suitable for a wide range of professionals, working in the Oil and Gas industry, who wish to expand their financial knowledge, in order to achieve career progress and add value to their organisaton. It will greatly benefit the following:
- Non-financial professionals whose role demands an understanding of finance
- Operational, marketing, production management team
- Marketing, HR and Administration professionals who need to work to budget or contribute to budget preparation
- Professionals who aspire to manage departments where financial control s key
- Risk managers who wish to learn the latest techniques
- Finance staff who wish to improve their knowledge
How will this Training Course be Presented?
How will this Training Course be Presented?
This PetroKnowledge training course uses a range of proven training methods designed to develop both understanding and skills enabling delegates to transfer benefits directly to their workplace. The training course presenter will discuss, develop, and present key topics and develop understanding using real world case studies and examples from the Oil & Gas Industry.
Case studies will also provide the opportunity for delegates to participate in teamwork analysis, to explore options, and propose strategies and solutions. All supported by extensive notes and a clear Glossary of Key Financial Terms.
Daily Agenda
Day One: Finance and Accounting
- What is Finance?
- The Importance of Finance
- The Sources & Types of Finance
- The Cost of Finance
- What is Accounting - Financial & Management Accounting?
- The Financial Accounting System
Day Two: Financial Statements of Oil & Gas Companies
- Preparing Basic Financial Statements: Cashflow, Income Statement and Statement of Financial Position
- International Financial Reporting Standards (IFRS) and US GAAP
- Revenue recognition – upstream, midstream and downstream
- Costs of Exploration & Evaluation of Mineral Reserves (IFRS 6)
- Accounting for Assets
- Analysis and Evaluation of Oil and Gas Financial Statements
Day Three: Management Accounting for Decision Making in the Oil & Gas Industry
- The Role & Purpose of Management Accounting
- Costing Methods
- Cost-Volume-Profit and Break-Even Analysis
- Budgeting – Objectives, Methodologies and Processes
- Preparing, Implementing & Controlling Budgets
- for Oil and Gas Operations
- Variance Analysis - Budget v Actual results
Day Four: Capital Investment Appraisal in the Oil & Gas Industry
- Strategic Planning and it’s link to Financial Planning in the Oil & Gas Industry
- Raising Finance for Capital Investment
- The Cost of Equity, Cost of Debt, and Weighted Average Cost of Capital (WACC)
- Investment Appraisal using: ARR, Payback, NPV and IRR
- Mergers & Acquisitions
- Decision Making when Capital is Rationed
Day Five: Financial Risk Management
- Identifying the Major Risks
- Evaluating the Risk: Probability & Impact
- Implementing a Risk Management Strategy
- Hedging Risk Using Derivatives
- Managing Oil Price Volatility
- Managing Interest Rate Risk & Managing Foreign Currency Risk
Certificate
- On successful completion of this training course, a PetroKnowledge Certificate will be awarded to the delegates
