/  Financial Accounting, Reporting and Business Support in the Oil and Gas Industry Training

Financial Accounting, Reporting and Business Support in the Oil and Gas Industry Training

BMC Training provides a training course in Financial Accounting, Reporting and Business Support in the Oil and Gas Industry in Finance , Accounting and Budgeting

Course Title
Venue
Start Date
End Date
  • Istanbul
    11 - 12 - 2022
    15 - 12 - 2022
  • Kuala Lumpur
    18 - 12 - 2022
    22 - 12 - 2022
  • London
    25 - 12 - 2022
    29 - 12 - 2022
  • Dubai
    1 - 1 - 2023
    5 - 1 - 2023
  • Paris
    1 - 1 - 2023
    5 - 1 - 2023
  • London
    8 - 1 - 2023
    12 - 1 - 2023
  • Kuala Lumpur
    15 - 1 - 2023
    19 - 1 - 2023
  • London
    15 - 1 - 2023
    19 - 1 - 2023
  • Kuala Lumpur
    22 - 1 - 2023
    26 - 1 - 2023
  • Dubai
    5 - 2 - 2023
    9 - 2 - 2023
  • Paris
    5 - 2 - 2023
    9 - 2 - 2023
  • London
    5 - 2 - 2023
    9 - 2 - 2023
  • Istanbul
    12 - 2 - 2023
    16 - 2 - 2023
  • London
    19 - 2 - 2023
    23 - 2 - 2023
  • Kuala Lumpur
    26 - 2 - 2023
    2 - 3 - 2023
  • London
    5 - 3 - 2023
    9 - 3 - 2023
  • Kuala Lumpur
    12 - 3 - 2023
    16 - 3 - 2023
  • London
    12 - 3 - 2023
    16 - 3 - 2023
  • Kuala Lumpur
    19 - 3 - 2023
    23 - 3 - 2023
  • Dubai
    26 - 3 - 2023
    30 - 3 - 2023
  • Paris
    26 - 3 - 2023
    30 - 3 - 2023
  • London
    2 - 4 - 2023
    6 - 4 - 2023
  • Istanbul
    9 - 4 - 2023
    13 - 4 - 2023
  • Dubai
    16 - 4 - 2023
    20 - 4 - 2023
  • Paris
    16 - 4 - 2023
    20 - 4 - 2023
  • London
    16 - 4 - 2023
    20 - 4 - 2023
  • Kuala Lumpur
    23 - 4 - 2023
    27 - 4 - 2023
  • Kuala Lumpur
    7 - 5 - 2023
    11 - 5 - 2023
  • London
    7 - 5 - 2023
    11 - 5 - 2023
  • Kuala Lumpur
    14 - 5 - 2023
    18 - 5 - 2023
  • London
    21 - 5 - 2023
    25 - 5 - 2023
  • Dubai
    28 - 5 - 2023
    1 - 6 - 2023
  • Paris
    28 - 5 - 2023
    1 - 6 - 2023
  • Dubai
    4 - 6 - 2023
    8 - 6 - 2023
  • Paris
    4 - 6 - 2023
    8 - 6 - 2023
  • London
    4 - 6 - 2023
    8 - 6 - 2023
  • Kuala Lumpur
    11 - 6 - 2023
    15 - 6 - 2023
  • London
    18 - 6 - 2023
    22 - 6 - 2023
  • Istanbul
    25 - 6 - 2023
    29 - 6 - 2023
  • Kuala Lumpur
    2 - 7 - 2023
    6 - 7 - 2023
  • Kuala Lumpur
    9 - 7 - 2023
    13 - 7 - 2023
  • London
    9 - 7 - 2023
    13 - 7 - 2023
  • Kuala Lumpur
    16 - 7 - 2023
    20 - 7 - 2023
  • London
    16 - 7 - 2023
    20 - 7 - 2023
  • Dubai
    23 - 7 - 2023
    27 - 7 - 2023
  • Paris
    23 - 7 - 2023
    27 - 7 - 2023
  • Kuala Lumpur
    6 - 8 - 2023
    10 - 8 - 2023
  • London
    13 - 8 - 2023
    17 - 8 - 2023

Intorduction

This seminar provides the skills to build knowledge, confidence and understanding of the unique Oil and Gas financial accounting, project management and business support issues. This seminar will analyse reporting frameworks, explain financial accounting policies and techniques, introduce new concepts for measuring, reporting project performance and shareholder wealth creation. You will explore the issues relating to governance risk and assurance, budgeting forecasts, cost estimation, capital contracting and procurement, earned value management and measuring and reporting financial performance for effective decision making.

This course provides delegates with key financial accounting and reporting awareness and forecasting and estimation skills, that are essential in managing and controlling Oil and Gas projects in times of increasing uncertainty and complexity.

Objectives

  • Successfully build knowledge of the long term strategic issues facing the Oil and Gas industry
  • Examine the financial, economic and commercial drivers
  • Understand key financial accounting and reporting principles
  • Deliver more timely and useful information to decision makers
  • Improve project controls, measurement and performance reporting and overall corporate governance

Day One

Oil and Gas Industry Overview

  • Current challenges in gaining access to reserves
  • The nature of the business and the role of the finance professional
  • Case study review
  • Oil and Gas financial accounting and reporting principles
  • Various financial reporting frameworks
  • Specific accounting terminology
  • Full cost V successful efforts

Day Two

Oil and Gas accounting methods and techniques

  • Specific financial accounting topics
    • Non drilling exploration costs
    • Acquisition costs
    • Drilling and development costs
    • Expensing of depreciable assets
    • Accounting for production activities
    • Asset retirement obligations and asset impairment
    • Accounting for revenue

Day Three

Partnerships and understanding financial information

  • Joint ventures and product sharing agreements
  • Financial performance, position and cash flow statements
  • Ratio analysis and interpretation
  • Analysing and interpreting ‘energy specific’ ratios

Day Four

Improving corporate governance

  • Project lifecycle and project planning
  • Importance and application of risk management
  • Developing and managing the risk register
  • Developing and challenging a cost estimate
  • Developing and managing contingencies
  • Probabilistic methodology using montecarlo simulation

Day Five

Capital contracting and Project performance and reporting

  • Identify the business needs
  • Understand the market and risks
  • Developing the contracting strategies and tactics
  • Contract management
  • Financial and management reporting for effective decision making
  • Developing, measuring and reporting KPIs
  • Earned value management for Oil and Gas

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