Introduction

When the training course addresses a number of economic, legal, accounting, taxation, auditing, budgeting, controlling, planning, information system, managerial and strategic planning issues in a context, it is our Financial Management course.

This Certification training course in Financial Management for Oil and Gas Companies & Petrochemical industries provides a piece of deeper knowledge on accounting in the oil industry and introduces the tools of financial analysis and management. Participants in this certification training course will be provided with knowledge that can be shared amongst their own colleagues, and with other departments.

This Certification training course in Financial Management for Oil and Gas Companies & Petrochemical Industries will introduce the practical realities of today’s world, and the understanding of the various financial techniques available that will enable delegates to communicate better with financial professionals, within and external to their organization, and to become more effective managers.

Specifically, you will learn to:

• Appreciate the specificities of the international petroleum accounting standards

• Define fundamentals of cost analysis and control

• Analyze and review the financial report of a company

• Review alternative methods of accounting for exploration and production companies

• Use the methodology and techniques of audit

 Objectives

This training course will give participants the required level of financial awareness and practical application, by enabling them to:

• Analyze the profit and loss account (income statement), balance sheet, and cash flow statement, and use ratios to interpret financial statements the Oil & Gas sector and petrochemical industry

• Appreciate the significant importance of cash flow (rather than profit) and Discounted Cash Flow (DCF) in Oil & Gas companies and petrochemical industries

• Develop costing systems such as Activity-Based Costing (ABC) for optimal decision-making to maximize shareholder wealth

• Appreciate the role of managers in the budget process and the use of Activity Based Budgeting (ABB)

• Determine the cost of capital to evaluate alternative sources of financing and optimal financial structure (gearing)

• Effectively manage cash and working capital to reduce costs and improve cash flow in Oil & Gas companies and the petrochemical industry

Methodology

This 5-day intensive training course uses a mix of interactive techniques to ensure maximum understanding, comprehension, and retention of the information presented. This includes evaluation of case studies of Oil & Gas case sector and petrochemical industry using the latest techniques, brief presentations by the consultant, group exercises, and discussion followed by participants' presentations of the results.

At the end of each day, participants have an opportunity for a one-to-one session with the training course instructor to develop their understanding further and will be provided with training course notes and examples in both hard and soft copy.

Organizational Impact

This training course is of direct relevance to the Oil & Gas sector & petrochemical industry and as a result, the organizations will benefit greatly from their employees’ participation.

The organization will gain from:

• More effective finance support for front-line departments

• Greater relevance and reliability of financial and management information

• More strategic thinking and focus on performance

• More effective use of financial statements of the company, its co-ventures, and its competitors

• The ability of Finance Managers and staff to work with less supervision

• Preparation of staff for increased responsibility

Personal Impact 

This training course will be of personal benefit to delegates by providing them with:

• A better understanding of the context and importance of the work you do

• Greater awareness of industry practices, problems and solutions

• Increased understanding and assurance to complete tasks successfully

• Increased self-confidence and motivation at work

• Greater job satisfaction in providing quality support to management

• Greater ability to supervise, develop and motivate colleagues

Target Audience

• Corporate Accountants, Financial Controllers, Treasury Officers, Management Accountants

• Finance Staff in General Accounting, Payables, Receivables, Inventory, Fixed Assets, etc.

• Joint Venture Accountants and Auditors

• External, Financial and Internal Auditors

• Government Regulators and Auditors

• Financial and Investment Analysts

Outlines