Course Objectives:

To develop an advanced understanding of the unique accounting and reporting practices of companies engaged in oil and gas exploration and production activities.To critically evaluate the issues that lie at the heart of the preparation of the of the financial statements of the oil and gas companies.


Who Should Attend?

Planners, accounting personnel in the oil and gas industry


Prerequisite Courses

None


Course Overview

• Oil and Gas Exploration and Production Accounting Policies and Standards.
• Analysis of oil and gas exploration and producing companies’ financial statements.
• Accounting implications of financing arrangements in the oil and gas industry
• Sales revenue accounting
• Production sharing contract accounting
• Joint venture accounting
• Government reports
• Recent developments in oil and gas companies’ disclosure requirements (EITI and Dodd-Frank Act)
• Financial and operational metrics to assess oil and gas company’s exploration and production.
• Calculation and interpretation of various industry metrics.
• Performance assessment of oil and gas companies’ exploration and production activities.
• Finding costs and reserves value-added-to-spending ratios.
• Financial planning and budgeting


Learning Goal

Participants should be able to:
• Engage with the debate surrounding oil and gas exploration and production companies’ disclosure.
• Get a thorough understanding of how to account for the relations that exist amongst international oil and gas companies, and between them and the host countries relating to oil and gas exploration and production activities
• Analyse and comment on the publish financial statements of the oil and gas exploration and production companies.


Course Materials

Course notes