Course description
Accounting For Upstream Oil & Gas (Public & Virtual)
Finance and accounting is the universal business language that enables organisations to evaluate business economics, appraise investment decisions, manage resources and report upon these. Competitive advantage can be gained through enhanced financial management and improved allocation resources.
This course will help non-financial managers improve their knowledge and application of accounting and financial management within the oil and gas industry. The course will cover the key accounting methods in exploration, development and production. It goes on to examine how business decisions impact upon financial statements and how by understanding these impacts managers are better placed to evaluate their decisions. We will then look the financial impact of the contractual arrangements found in the industry, in particular the impact of Production Sharing Agreements upon results and reserves.
Upcoming start dates
Suitability - Who should attend?
This course is for operational managers with financial responsibilities wishing to gain or deepen their knowledge and application of accounting practices in upstream oil and gas.
Outcome / Qualification etc.
- Describe and apply the core concepts and terminology for accounting and finance in the oil and gas sector.
- Examine the different financial statements and they interact including profit statement, balance sheet and cashflow.
- Establish how financial and accounting decisions affect earnings, cash flows and operational decisions.
- Apply accepted capitalisation rules and depreciation methods within E&P.
- Analyse and interpret the result of E&P businesses including the use of accepted oil and gas reserves-based ratios.
- Analyse the financial consequences of contractual arrangements such as production sharing agreements
- Contrast and compare the commonly found accounting treatments in the industry under both IFRS and US GAAP frameworks.
Course delivery details
All London Petro Academy courses are available face to face classroom style as well as virtually.
They are also available In-House and can be tailored to your company's specific requirements. Contact us to discuss it further.
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London Petro Academy Limited
Worldwide Leading Oil & Gas & Renewable Energy Training Provider headquartered in London, we have been operating all over the world providing world-class training courses for oil and gas and renewable energy professionals. London Petro Academy covers the entire Oil...