Introduction to Oil and Gas Accounting and Reporting
About This Event
An Introductory Guide to Accounting for Petroleum Projects
Build your understanding and appreciation of how finance adds value to the oil and gas project lifecycle through this course. Cover key aspects of financial accounting and reporting in alignment with AASB and IFRS.
Key Learning Outcomes
Undertake a summary of the oil and gas industry and the current challenges,
Recognise the principles of oil and gas financial accounting and reporting,
Compare key oil and gas accounting methods,
Understand full cost vs successful efforts,
Learn to account for exploration, production, drilling and development costs,
Understand depreciation, depletion and amortisation in an oil and gas context,
Explain asset impairment, restoration and abandonment provisions,
Gain a working knowledge of revenue accounting, Illustrate the accounting treatment of joint ventures and production sharing contracts,
Consider other financial and supplemental disclosures,
Analyse financial statements and KPIs that drive decision making,
Understand cost and estimation, and managing contingencies
About the Course
This course will provide accounting and finance professionals with an enhanced awareness and understanding of the main technical accounting and finance issues directly related to oil and gas accounting.Management, engineering and other skilled professionals will gain insight into the primary scorekeeping functions of their company and industry and an appreciation for the unique nature of oil and gas accounting. Investment and banking individuals will gain greater insight into how accounting information in the oil and gas industry indicates performance and valuations.The course will begin with a general introduction to the industry and a quick review of the basics of accounting and financial statements. We will then highlight the big picture issues that make accounting in the oil and gas industry different from accounting in many other industries, including capitalisation and expensing of cash outlays and valuation of assets.
Time: 09:00 - 17:00
Speakers: John Sing
Price:
$ 2744.50 AUD