Financial Accounting, Reporting and Business Support in the Oil and Gas Industry
Schedule & Fees
Start Date:
25 Aug 2025
End Date:
29 Aug 2025
Venue:
Marrakesh
Fees:
4000€
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Financial Accounting, Reporting and Business Support in the Oil and Gas Industry Course
Introduction:
The Financial Accounting, Reporting, and Business Support in the Oil and Gas Industry Training course offers the latest financial knowledge and skills necessary to navigate the strategic issues and challenges specific to the industry.
The course delves into internationally accepted accounting methods and techniques employed in the Oil & Gas sector for reporting costs, asset values, profits, and financial evaluations. Participants will also examine the most up-to-date risk management techniques, enabling them to effectively manage and mitigate oil price, exchange rate, and interest rate volatility through the use of derivatives.
Furthermore, this engaging course incorporates project management techniques to develop and enhance participants' skills and knowledge within this unique industry.
Participants will explore various topics, including governance risk and assurance, budgeting forecasts, cost estimation, capital contracting and procurement, earned value management, and measuring and reporting financial performance for informed decision-making.
By providing essential financial accounting and reporting awareness, as well as forecasting and estimation skills, this course equips delegates with the necessary tools to effectively manage and control Oil and Gas projects amidst increasing uncertainty and complexity.
Course Objectives:
At the end of this Financial Accounting, Reporting and Business Support in the Oil and Gas Industry Training course, participants will be able to:
- Evaluate the long term strategic issues facing the Oil and Gas industry
- Analyze the financial, economic and commercial drivers
- Evaluate performance using key financial accounting methods and techniques
- Deliver more timely and useful information to decision makers
- Improve project controls, measurement & performance reporting & overall corporate governance
- Successfully build knowledge of the long term strategic issues facing the Oil and Gas industry
- Understand key financial accounting and reporting principles
Who Should Attend?
Financial Accounting, Reporting and Business Support in the Oil and Gas Industry Training course is suitable for a wide range of professionals but will greatly benefit:
- Accountants and Finance Professionals responsible for financial accounting, treasury, budget preparation and management reporting
- Process and Non-technical Professionals who require a more in-depth understanding of financial accounting reporting, project management and forecasting techniques
- Financial Planners and Cost Analysts
- Line/Unit Heads with direct planning and budgeting responsibility
- Account Personnel and Business Consultants
Course Outlines:
Oil and Gas Industry Overview & the Role of Accounting and Finance
- The Nature of the Oil & Gas sector
- Current & Future challenges within the sector – a question of Supply & Demand
- The Role of the Finance professional
- Various financial reporting frameworks
- Oil and Gas financial accounting and reporting principles
Oil and Gas Accounting Methods and Techniques
- International Financial Reporting Standards (IFRS) & International Accounting Standards (IAS) relevant for oil and gas companies
- Specific financial accounting treatment in the Oil & Gas sector
- Accounting for Costs – Acquisition; Exploration; Development & Production
- Accounting for Assets - Asset Recognition; Depreciation Depletion & Amortization and Asset Retirement
- Accounting for Revenue
Partnerships and Understanding Financial Information
- Joint Ventures and Product Sharing Agreements
- Financial Performance, Position and Cash Flow Statements
- Ratio Analysis and Interpretation
- Analyzing and Interpreting ‘Energy Specific’ Ratios
- Comparative Analysis & Benchmarking
Risk Management
- Understand the Market and Risks
- Importance and Application of Risk Management
- Hedging using Derivatives
- Developing and Managing Contingencies
- Probabilistic Methodology using Monte Carlo Simulation
Capital Contracting and Project Performance and Reporting
- Identify The Business Needs & Developing, Measuring And Reporting KPI’s
- Project Lifecycle and Project Planning/Management
- Probabilistic Methodology Using Monte Carlo Simulation
- Developing and Challenging A Cost Estimate
- Earned Value Management for Oil And Gas