Oil And Gas Accounting Level 2

This course provides participants with a thorough, in-depth review and examination of international accounting standards and their application in the upstream oil and gas industry. This will include a review of unique accounting issues that arise in exploration and production activities and best practices for accounting for these.

Participants will learn about Production Sharing Contracts (PSCs), the different aspects that are included in PSCs, and the accounting consequences that can arise. This course will address joint venture accounting and alternative methods of how joint ventures can be funded. Unitization and redetermination of oil and gas fields will also be covered.

The final part of this course will give participants an awareness of the different approaches that can be used in the preparation of an annual department and corporate budget. The strategic issues that companies consider in planning their future growth and development will also be discussed.

• Enhance understanding of international accounting standards applied to upstream oil and gas (E&P) activities
• Develop knowledge of unique accounting issues in exploration and production operations
• Understand accounting treatment of Production Sharing Contracts (PSCs) and Joint Ventures (JVs)
• Analyze different accounting policies and their impact on financial reporting in oil and gas companies
• Gain insight into cost allocation, revenue recognition, and taxation in E&P companies
• Understand decommissioning, impairment, reserves accounting, and DD&A calculations
• Develop skills in budgeting, cost control, and financial planning for E&P organizations
• Build awareness of industry-specific financial reporting standards and disclosure requirements
• Apply best practices in JV accounting, cash management, and audit processes
• Strengthen ability to prepare and control departmental and corporate budgets in E&P companies

• Finance professionals working in oil and gas companies (upstream sector)
• Accountants and financial controllers in E&P (Exploration & Production) organizations
• Joint venture accountants and project finance professionals in energy sector
• Internal and external auditors specializing in oil and gas industry
• Budgeting and cost control managers in energy and petroleum companies
• Government and regulatory professionals dealing with energy sector reporting
• Professionals involved in production sharing contracts (PSCs) and concession agreements
• Investment analysts covering oil and gas industry
• Consultants and advisors in energy, accounting, and financial reporting
• Professionals seeking specialization in upstream oil and gas accounting