Participants should either have attended the IFRS for Oil & Gas Accounting course or have a reasonable understanding of oil and gas accounting principles.
Intermediate to advanced level. This course can be considered as the progressing course of IFRS for Oil & Gas Accounting.
This course is designed for those with limited exposure to the methodologies and techniques associated with accounting for the oil and gas industry, together with those who wish to formalise their understanding gained through on the job experience.
The course examines all elements of oil and gas operations and considers effective and commonly utilised accounting treatments, classifications, recognition criteria and valuation and measurement decisions, based on national standards, US GAAP and International accounting standards.
You will gain understanding in key terminology and processes necessary for successful accounting careers with the industry, and will gain the confidence necessary to participate in industry accounting activities.
Benefits of Attending
· APPLY various accounting rules in the oil and gas sector
· ASSESS the impact of new IFRS 6, IAS 16, IAS 23, IAS 36, IAS 37 and IAS 38 through transition case studies
· IDENTIFY appropriate accounting policies best suited to your company
· MASTER updated IFRS principles and concepts
· UNDERSTAND current status of IASB specific accounting standards for oil and gas sector
· ADDRESS controversial areas with little or no guidance from the IASB
· MASTER recognition and valuation of non-current assets
· LEARN inventory and reserve accounting, revenue recognition, JV arrangements, financial instruments and derivatives, reserve disclosure and many more
· TAKE AWAY a thorough understanding of IFRS vs US GAPP
Who Should Attend
Oil & Gas professionals of:
· Financial analysts
· Asset managers
· Finance controllers
· Budget & reporting managers
· Cost controllers
· Commercial managers
· Credit controllers
· Investment analysts
· Tax managers
· Project control & planners