Fundamentals of Joint Venture Accounting
in the Oil and Gas Industry

This PetroKnowledge Joint Venture Accounting training course is designed to develop the essential skills necessary to prepare and evaluate joint venture accounts and to improve the organization’s account function. Our course is aimed at accounting professionals wishing to deepen their knowledge of the accounting procedures applied to joint venture.

This PetroKnowledge training course also covers several issues regarding the relationships between operators and non-operators in joint ventures, the financing of joint venture operations and the reporting of joint costs.

This is an intensive and highly practical Fundamentals of Joint Venture Accounting in the Oil and Gas Industry training program concentrating on aspects of accounting that are unique to this industry. As well It will enable you to know how to apply a series of major financial accounting principles and standards that are particularly relevant to upstream oil and gas activities.

By the end of this Fundamentals of Joint Venture Accounting in the Oil and Gas Industry training course, you will be able to understand:

• The structure of joint ventures in the oil and gas industry
• The applied structured methodology for conducting oil industry in joint venture
• The different accounting method for joint ventures
• The account for interests in joint operations
• The main clauses contained within joint operating agreements
• The accounting procedures set out in joint operating agreements and production sharing contacts
• The differences in accounting treatments of costs for IFRS reporting and cost recovery purposes
• Application of series of major financial accounting principles and standards that are particularly relevant to oil and gas activities
• The different types of Joint Venture agreements and the accounting implications of each
• Accounting issues related specifically to joint interests

This PetroKnowledge Joint venture Accounting training course is designed to develop accounting knowledge and skills, providing details of the latest policies and procedures. It will be greatly benefit to:

• Joint Venture Accountants and Auditors
• Government Regulators and Auditors
• Financial and Investment Analysts
• Project Managers & Team Members
• Financial Analysts
• Accounting Executive / Managers
• Financial Reporting & Treasurers / Managers
• Financial Executives / Managers / Controllers / Directors
• Budgeting Officers / Executives / Managers
• Cost Controllers, Executive & Managers
• Taxation & Reporting Executives / Managers
• JV Executives / Managers / Advisors
• Business / Investment Analysts & Managers
• Regulatory Compliance Officers
• Commercial Analysts, Executives & Manager

Participants to this PetroKnowledge Joint Venture Accounts training course will receive an explanation and demonstration of the accounting issues relating to joint venture arrangements. The training methodology includes case studies, group live instruction, presentation and discussion of worked examples, group discussion and interactive participation is encouraged.

This Joint Venture Accounting training course is of direct relevance to the joint venture account and as a result the organizations will benefit greatly from their employees participation. The organization will gain from:

• More effective finance support for front-line departments
• Greater relevance and reliability of accounting and financial
• More strategic thinking and focus on performance
• More effective use of accounting methods
• Preparation of staff for increased responsibility

This Fundamentals of Joint Venture Accounting in the Oil and Gas Industry training course will be of personal benefit to delegates by providing you with:

• A better understanding of the context and importance of the work you do
• Greater awareness of industry practices, problems and solutions
• Increased understanding and assurance to complete tasks successfully
• Increased self-confidence and motivation at work
• Greater job satisfaction in providing quality support to management
• Greater ability to supervise, develop and motivate colleagues