/  Oil and Gas Accounting and Performance Measurement Training

Oil and Gas Accounting and Performance Measurement Training

BMC Training provides a training course in Oil and Gas Accounting and Performance Measurement in Oil and Gas Training

Course Title
Venue
Start Date
End Date
  • London
    27 - 1 - 2019
    31 - 1 - 2019
  • Madrid
    27 - 1 - 2019
    31 - 1 - 2019
  • Munich
    27 - 1 - 2019
    31 - 1 - 2019
  • Berlin
    27 - 1 - 2019
    31 - 1 - 2019
  • Istanbul
    20 - 1 - 2019
    24 - 1 - 2019
  • Bali
    20 - 1 - 2019
    24 - 1 - 2019
  • Singapore
    20 - 1 - 2019
    24 - 1 - 2019
  • Kuala Lumpur
    13 - 1 - 2019
    17 - 1 - 2019
  • Rome
    13 - 1 - 2019
    17 - 1 - 2019
  • Barcelona
    13 - 1 - 2019
    17 - 1 - 2019
  • Zurich
    13 - 1 - 2019
    17 - 1 - 2019
  • Dubai
    6 - 1 - 2019
    10 - 1 - 2019
  • Paris
    6 - 1 - 2019
    10 - 1 - 2019
  • Hong Kong
    6 - 1 - 2019
    10 - 1 - 2019
  • Kuala Lumpur
    24 - 2 - 2019
    28 - 2 - 2019
  • Rome
    24 - 2 - 2019
    28 - 2 - 2019
  • Barcelona
    24 - 2 - 2019
    28 - 2 - 2019
  • Zurich
    24 - 2 - 2019
    28 - 2 - 2019
  • London
    17 - 2 - 2019
    21 - 2 - 2019
  • Madrid
    17 - 2 - 2019
    21 - 2 - 2019
  • Munich
    17 - 2 - 2019
    21 - 2 - 2019
  • Berlin
    17 - 2 - 2019
    21 - 2 - 2019
  • Dubai
    10 - 2 - 2019
    14 - 2 - 2019
  • Paris
    10 - 2 - 2019
    14 - 2 - 2019
  • Hong Kong
    10 - 2 - 2019
    14 - 2 - 2019
  • Istanbul
    3 - 2 - 2019
    7 - 2 - 2019
  • Bali
    3 - 2 - 2019
    7 - 2 - 2019
  • Singapore
    3 - 2 - 2019
    7 - 2 - 2019
  • London
    17 - 3 - 2019
    21 - 3 - 2019
  • Madrid
    17 - 3 - 2019
    21 - 3 - 2019
  • Munich
    17 - 3 - 2019
    21 - 3 - 2019
  • Berlin
    17 - 3 - 2019
    21 - 3 - 2019
  • Istanbul
    10 - 3 - 2019
    14 - 3 - 2019
  • Bali
    10 - 3 - 2019
    14 - 3 - 2019
  • Singapore
    10 - 3 - 2019
    14 - 3 - 2019
  • Kuala Lumpur
    3 - 3 - 2019
    7 - 3 - 2019
  • Rome
    3 - 3 - 2019
    7 - 3 - 2019
  • Barcelona
    3 - 3 - 2019
    7 - 3 - 2019
  • Zurich
    3 - 3 - 2019
    7 - 3 - 2019
  • Dubai
    24 - 3 - 2019
    28 - 3 - 2019
  • Paris
    24 - 3 - 2019
    28 - 3 - 2019
  • Hong Kong
    24 - 3 - 2019
    28 - 3 - 2019
  • Kuala Lumpur
    28 - 4 - 2019
    2 - 5 - 2019
  • Rome
    28 - 4 - 2019
    2 - 5 - 2019
  • Barcelona
    28 - 4 - 2019
    2 - 5 - 2019
  • Zurich
    28 - 4 - 2019
    2 - 5 - 2019
  • London
    7 - 4 - 2019
    11 - 4 - 2019
  • Madrid
    7 - 4 - 2019
    11 - 4 - 2019
  • Munich
    7 - 4 - 2019
    11 - 4 - 2019
  • Berlin
    7 - 4 - 2019
    11 - 4 - 2019
  • Dubai
    14 - 4 - 2019
    18 - 4 - 2019
  • Paris
    14 - 4 - 2019
    18 - 4 - 2019
  • Hong Kong
    14 - 4 - 2019
    18 - 4 - 2019
  • Istanbul
    21 - 4 - 2019
    25 - 4 - 2019
  • Bali
    21 - 4 - 2019
    25 - 4 - 2019
  • Singapore
    21 - 4 - 2019
    25 - 4 - 2019
  • London
    12 - 5 - 2019
    16 - 5 - 2019
  • Madrid
    12 - 5 - 2019
    16 - 5 - 2019
  • Munich
    12 - 5 - 2019
    16 - 5 - 2019
  • Berlin
    12 - 5 - 2019
    16 - 5 - 2019
  • Istanbul
    5 - 5 - 2019
    9 - 5 - 2019
  • Bali
    5 - 5 - 2019
    9 - 5 - 2019
  • Singapore
    5 - 5 - 2019
    9 - 5 - 2019
  • Kuala Lumpur
    19 - 5 - 2019
    23 - 5 - 2019
  • Rome
    19 - 5 - 2019
    23 - 5 - 2019
  • Barcelona
    19 - 5 - 2019
    23 - 5 - 2019
  • Zurich
    19 - 5 - 2019
    23 - 5 - 2019
  • Dubai
    26 - 5 - 2019
    30 - 5 - 2019
  • Paris
    26 - 5 - 2019
    30 - 5 - 2019
  • Hong Kong
    26 - 5 - 2019
    30 - 5 - 2019
  • Kuala Lumpur
    9 - 6 - 2019
    13 - 6 - 2019
  • Rome
    9 - 6 - 2019
    13 - 6 - 2019
  • Barcelona
    9 - 6 - 2019
    13 - 6 - 2019
  • Zurich
    9 - 6 - 2019
    13 - 6 - 2019
  • London
    16 - 6 - 2019
    20 - 6 - 2019
  • Madrid
    16 - 6 - 2019
    20 - 6 - 2019
  • Munich
    16 - 6 - 2019
    20 - 6 - 2019
  • Berlin
    16 - 6 - 2019
    20 - 6 - 2019
  • Dubai
    23 - 6 - 2019
    27 - 6 - 2019
  • Paris
    23 - 6 - 2019
    27 - 6 - 2019
  • Hong Kong
    23 - 6 - 2019
    27 - 6 - 2019
  • Istanbul
    2 - 6 - 2019
    6 - 6 - 2019
  • Bali
    2 - 6 - 2019
    6 - 6 - 2019
  • Singapore
    2 - 6 - 2019
    6 - 6 - 2019
  • London
    7 - 7 - 2019
    11 - 7 - 2019
  • Madrid
    7 - 7 - 2019
    11 - 7 - 2019
  • Munich
    7 - 7 - 2019
    11 - 7 - 2019
  • Berlin
    7 - 7 - 2019
    11 - 7 - 2019
  • Istanbul
    14 - 7 - 2019
    18 - 7 - 2019
  • Bali
    14 - 7 - 2019
    18 - 7 - 2019
  • Singapore
    14 - 7 - 2019
    18 - 7 - 2019
  • Kuala Lumpur
    21 - 7 - 2019
    25 - 7 - 2019
  • Rome
    21 - 7 - 2019
    25 - 7 - 2019
  • Barcelona
    21 - 7 - 2019
    25 - 7 - 2019
  • Zurich
    21 - 7 - 2019
    25 - 7 - 2019
  • Dubai
    28 - 7 - 2019
    1 - 8 - 2019
  • Paris
    28 - 7 - 2019
    1 - 8 - 2019
  • Hong Kong
    28 - 7 - 2019
    1 - 8 - 2019
  • Kuala Lumpur
    4 - 8 - 2019
    8 - 8 - 2019
  • Rome
    4 - 8 - 2019
    8 - 8 - 2019
  • Barcelona
    4 - 8 - 2019
    8 - 8 - 2019
  • Zurich
    4 - 8 - 2019
    8 - 8 - 2019
  • London
    11 - 8 - 2019
    15 - 8 - 2019
  • Madrid
    11 - 8 - 2019
    15 - 8 - 2019
  • Munich
    11 - 8 - 2019
    15 - 8 - 2019
  • Berlin
    11 - 8 - 2019
    15 - 8 - 2019
  • Dubai
    18 - 8 - 2019
    22 - 8 - 2019
  • Paris
    18 - 8 - 2019
    22 - 8 - 2019
  • Hong Kong
    18 - 8 - 2019
    22 - 8 - 2019
  • Istanbul
    25 - 8 - 2019
    29 - 8 - 2019
  • Bali
    25 - 8 - 2019
    29 - 8 - 2019
  • Singapore
    25 - 8 - 2019
    29 - 8 - 2019
  • London
    22 - 9 - 2019
    26 - 9 - 2019
  • Madrid
    22 - 9 - 2019
    26 - 9 - 2019
  • Munich
    22 - 9 - 2019
    26 - 9 - 2019
  • Berlin
    22 - 9 - 2019
    26 - 9 - 2019
  • Istanbul
    1 - 9 - 2019
    5 - 9 - 2019
  • Bali
    1 - 9 - 2019
    5 - 9 - 2019
  • Singapore
    1 - 9 - 2019
    5 - 9 - 2019
  • Kuala Lumpur
    8 - 9 - 2019
    12 - 9 - 2019
  • Rome
    8 - 9 - 2019
    12 - 9 - 2019
  • Barcelona
    8 - 9 - 2019
    12 - 9 - 2019
  • Zurich
    8 - 9 - 2019
    12 - 9 - 2019
  • Dubai
    15 - 9 - 2019
    19 - 9 - 2019
  • Paris
    15 - 9 - 2019
    19 - 9 - 2019
  • Hong Kong
    15 - 9 - 2019
    19 - 9 - 2019
  • Kuala Lumpur
    20 - 10 - 2019
    24 - 10 - 2019
  • Rome
    20 - 10 - 2019
    24 - 10 - 2019
  • Barcelona
    20 - 10 - 2019
    24 - 10 - 2019
  • Zurich
    20 - 10 - 2019
    24 - 10 - 2019
  • London
    27 - 10 - 2019
    31 - 10 - 2019
  • Madrid
    27 - 10 - 2019
    31 - 10 - 2019
  • Munich
    27 - 10 - 2019
    31 - 10 - 2019
  • Berlin
    27 - 10 - 2019
    31 - 10 - 2019
  • Dubai
    6 - 10 - 2019
    10 - 10 - 2019
  • Paris
    6 - 10 - 2019
    10 - 10 - 2019
  • Hong Kong
    6 - 10 - 2019
    10 - 10 - 2019
  • Istanbul
    13 - 10 - 2019
    17 - 10 - 2019
  • Bali
    13 - 10 - 2019
    17 - 10 - 2019
  • Singapore
    13 - 10 - 2019
    17 - 10 - 2019
  • London
    17 - 11 - 2019
    21 - 11 - 2019
  • Madrid
    17 - 11 - 2019
    21 - 11 - 2019
  • Munich
    17 - 11 - 2019
    21 - 11 - 2019
  • Berlin
    17 - 11 - 2019
    21 - 11 - 2019
  • Istanbul
    24 - 11 - 2019
    28 - 11 - 2019
  • Bali
    24 - 11 - 2019
    28 - 11 - 2019
  • Singapore
    24 - 11 - 2019
    28 - 11 - 2019
  • Kuala Lumpur
    3 - 11 - 2019
    7 - 11 - 2019
  • Rome
    3 - 11 - 2019
    7 - 11 - 2019
  • Barcelona
    3 - 11 - 2019
    7 - 11 - 2019
  • Zurich
    3 - 11 - 2019
    7 - 11 - 2019
  • Dubai
    10 - 11 - 2019
    14 - 11 - 2019
  • Paris
    10 - 11 - 2019
    14 - 11 - 2019
  • Hong Kong
    10 - 11 - 2019
    14 - 11 - 2019
  • Kuala Lumpur
    15 - 12 - 2019
    19 - 12 - 2019
  • Rome
    15 - 12 - 2019
    19 - 12 - 2019
  • Barcelona
    15 - 12 - 2019
    19 - 12 - 2019
  • Zurich
    15 - 12 - 2019
    19 - 12 - 2019
  • London
    22 - 12 - 2019
    26 - 12 - 2019
  • Madrid
    22 - 12 - 2019
    26 - 12 - 2019
  • Munich
    22 - 12 - 2019
    26 - 12 - 2019
  • Berlin
    22 - 12 - 2019
    26 - 12 - 2019
  • Dubai
    1 - 12 - 2019
    5 - 12 - 2019
  • Paris
    1 - 12 - 2019
    5 - 12 - 2019
  • Hong Kong
    1 - 12 - 2019
    5 - 12 - 2019
  • Istanbul
    8 - 12 - 2019
    12 - 12 - 2019
  • Bali
    8 - 12 - 2019
    12 - 12 - 2019
  • Singapore
    8 - 12 - 2019
    12 - 12 - 2019

Introduction:

This five-day training course develops an essential understanding of Oil & Gas Exploration & Production (E&P) accounting, reporting and performance measurement issues and practices. It develops your ability to prepare, use and critically evaluate information on E&P activities, applying specialist industry knowledge and relevant analytical skills.

  • The programme is designed specifically for those who have a basic understanding of accounting but who need to understand more about accounting and financial reporting policies and practices in the upstream oil and gas industry.
  • Topics covered include the successful efforts and full cost methods of accounting, the classification of assets as tangible or intangible, the unit of production method for depreciation of capitalised costs, the testing for impairment of oil and gas assets, and accounting for removal and restoration of oil and gas facilities.
  • The main requirements of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) relevant to the Oil & Gas Exploration & Production industry are examined for each major phase in the field life cycle.
  • Learning throughout the course is achieved through illustrated presentations, group discussions, worked examples, exercises and solutions, and extracts from published financial statements of international companies.
  • Participants in this programme gain a broader and deeper appreciation of the role of the E&P Finance Department and the context in which it operates, encouraging a more confident and proactive approach to their work, developing awareness of issues, and preparing them for increased responsibility.

Course Objectives:

By the end of the programme, delegates will learn how to:

  • Develop understanding of the accounting standards, policies and practices used by companies in the Oil & Gas Exploration & Production 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 E&P industry
  • Improve relevance and reliability of financial reports to better meet the needs of users
  • Review and use publicly available information for benchmarking the business performance of companies in the E&P industry

The Course:

Day One:

THE OIL & GAS SECTOR AND MAJOR ACCOUNTING ISSUES

The Oil & Gas Sector & The Macro-economic Factors

  • Commodity prices, currency fluctuations, interest rate risk and political developments and environmental risk.

Costs in Acquisition, Exploration, Development and Production of new oil or natural gas reserves

Accounting Approaches

  • The "Successful Efforts" (SE) Method or the "Full Cost" (FC) Method

An Introduction/Overview of IFRS in relation to the Oil & Gas Sector, with particular reference to:

  • IFRS 1: First-time Adoption of International Financial Reporting Standards
  • IFRS 6: Exploration for and Evaluation of Mineral Assets
  • IFRS 10: Consolidated Financial Statements
  • IFRs 11: Joint Arrangements
  • IAS 16: Property, Plant and Equipment
  • IAS 36: Impairment of Assets
  • IAS 37: Provisions, Contingent Liabilities and Contingent Assets
  • IAS 38: Intangible Assets
  • IAS 39 Financial Instruments: Recognition and Measurement – Superseded by IFRS 9 effective 2013

Day Two:

EVALUATING THE PERFORMANCE AND IDENTIFYING THE ACCOUNTING ISSUES OF BP, CHEVRON , SHELL & SABIC

Analysis of financial statements

  • Income Statements
  • Statement of Financial Position (Balance Sheet)
  • Cashflow Statements

Identification & Evaluation of their Accounting Policies 

DuPont Analysis – Evaluating and Improving Return on Equity (ROE)

Evaluation of their Share Price and Investment Performance

  • With live feeds from London Stock Exchange and Dow Jones

Day Three:

ACCOUNTING FOR UPSTREAM ACTIVITIES WITH REFERENCE TO IFRS AND EXAMPLES OF BP, CHEVRON & SHELL, E.G.

  • Reserves and resources
  • Exploration and evaluation
  • Revenue recognition
  • Assets
  • Depletion, Depreciation & Amortisation (“DD&A”)
  • Impairment of development, production and downstream assets

Day Four:

JOINT ARRANGEMENTS; FINANCIAL INSTRUMENTS & DERIVATIVES

  • Business Combinations, Joint Ventures & Production Sharing Agreements (“PSA”s)
  • Treasury Management Issues for Multi-nationals
  • The Use of Derivatives in the Oil& Gas Sector to manage the commodity, currency and interest-rate risks etc

Day Five:

CREATIVE ACCOUNTING AND CORPORATE GOVERNANCE

  • Creative Accounting – Enron and investor protection
  • Auditors and reporting to investors in the oil and gas industry
  • External audit investigations and reports
  • The auditor’s ‘Opinion'
  • True and Fair
  • Sarbanes Oxley
  • Internal audits
  • Ethical issues
  • Corporate governance
  • Government regulation
  • Investor confidence and share prices

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