Mastering Finance for Non-Financial Oil & Gas Personnel - 2 day Training Course
This two-day Mastering Finance for non-financial oil and gas personnel training course is designed to help those personnel without knowledge of finance to understand the basic financial principles, theory and practice of financial reporting and analysis as they apply to the oil and gas industry.
Using a combination of instruction, group discussions, practical examples and exercises, this course is designed to ensure that delegates absorb both the theory and the practical application of the topics.
On attending this Mastering Finance for non-financial oil and gas personnel training course you will learn:
- how to interpret, understand and act on financial information
- how to develop more effective decision-making skills
- elements of financial management specific to the oil and gas industry
- a conceptual understanding of key E&P accounting topics including depreciation, reserves, decommissioning, and asset impairment tests
Upcoming start dates
Enquire for more information
- United Kingdom
Suitability - Who should attend?
This Mastering Finance for Non-Financial Oil & Gas Personnel training courseis suitable for non-financial personnel at all levels and in all disciplines in the oil and gas industry who want to develop a better understanding of finance and budgeting.
Typical delegates include:
- managers and supervisors wanting to improve their understanding of financial reports and make more effective use of financial information for strategic and operational decision-making
- specialists in all disciplines who have to interpret and work with financial information
- all personnel with budget responsibilities
- advisers who make recommendations based on financial data
Outcome / Qualification etc.
Participants on this course are eligible for 14 hours of CPD accreditation on completion.
Training Course Content
This Mastering Finance for Non-Financial Oil & Gas Personnel training course covers the following content:
Sources and uses of financial information
- sources of financial data
- financial information systems
- uses of financial information for decision-making
Understanding financial information
- understanding basic principles
- the profit and loss account
- the balance sheet
- the importance of working capital and how to control it
- the difference between capital expenditure and operating expenditure
- understanding the difference between cash flow and profit
- how to control cash flow
- techniques for measuring financial performance
- how to measure financial performance
- how to compare the performance of different petroleum companies
Oil & Gas industry accounting policies
- how to account for exploration and appraisal costs
- understand the nature and classification of reserves and the use of reserve data in E&P accounting
- DD&A - the basic concepts and examples of the Unit of Production calculation
- understand asset impairment tests
- how to account for decommissioning
- a review of a sample set of E&P company published accounts
Effects of taxation
- how tax effects profit and cash flow
- the impact of tax on decisions
Budget preparation and control
- the role of financial planning
- how to prepare a budget
- how to control a budget
Course delivery details
Why choose MDT International
Over 90% of participants say our training met or exceeded their expectations
MDT have worked with 500+ organisations worldwide
Our trainers have 25+ years of experience in the O&G Industry
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Average rating 4.7
Fascinating insights into the accounting world, which will help me understand and contribute in some of the meetings I attend. I had heard lots of the acronyms before but now th...
Overall content of material was excellent and up to date. Trainer explained concepts well and used relevant examples. Really enjoyed it!
Great trainer and good presenter. Fascinating content. Good example of how to make a boring content very interesting and catch people’s attention. Good refresher of basic financ...
Course Fee: £1350.00 (+ VAT for attending UK courses). Fees include your attendance at the relevant training course/s and the provision of a comprehensive training course manual, course completion certificate, plus lunch and refreshments during the training day. Fees do not include accommodation and living costs.
MDT International can also provide this course on an in-house course basis, to discuss please submit enquiry.
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