An Intensive 5-day Training Course
International Financial Reporting Standards (IFRS) for the Oil & Gas and Petrochemical Sectors (Upstream, Midstream & Downstream)
Essential Guide to IFRS Relevant to the Oil & Gas Sector
Course Introduction
This Oxford Management Centre training course aims to develop an essential understanding of oil & gas accounting, reporting and performance measurement issues and practices, through developing your ability to prepare, use and critically evaluate information on Upstream, Midstream & Downstream Oil & Gas activities, applying specialist industry knowledge and relevant analytical skills.
Objectives
Specifically you will learn to:
- Develop an understanding of the accounting standards, policies and practices used by companies in the Oil & Gas industry
- Appreciate the nature and financial implications of Production Sharing Contracts and other agreements between host governments and international companies
- Examine issues and guidelines in accounting for Joint Ventures
- Identify and know how to apply international and national accounting standards most relevant to the industry
- Improve relevance and reliability of financial reports to better meet the needs of users
Who Should Attend?
All individuals who have a basic understanding of accounting, and want to learn more about accounting and financial reporting policies and practices in the Oil & Gas and Petrochemical Industry (Upstream, Midstream & Downstream).
In particular, will be suitable for:
- 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
- Financial and Investment Analysts
Course Outline
- The Latest Accounting Issues facing the Oil & Gas and Petrochemical Industry (Upstream, Midstream & Downstream)
- The Impact of Commodity Prices, Currency & Interest Rate Fluctuations and Political & Environmental Developments
- An Overview of IFRS in relation to the Oil & Gas Industry, e.g.
- IAS 16: Property, Plant and Equipment and Depletion, Depreciation & Amortisation (“DD&A”)
- IAS 36: Impairment of Assets
- IFRS 6: Exploration for and Evaluation of Mineral Assets and the Accounting Approaches
- IFRS 9 Financial Instruments
- Break Even Oil, Cost Oil & Profit Oil
- The Use of Derivatives in the Oil & Gas & Petrochemical Sector to Manage the Commodity, Currency and Interest-rate Risks, etc.
- Creative Accounting
- Corporate Governance
- External Auditing - reporting to investors
- Internal Auditing - Defining and Developing the Internal Audit Process
Certificate
Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.
Accreditation
In association with
This training course is also part of below 10-day title:
