Introduction
This IRES Financial Accounting & Reporting the Oil and Gas Industry training seminar provides you with the latest financial knowledge and skills, through the evaluation of strategic issues and challenges facing the industry. It explores the internationally accepted accounting methods and techniques used in the Oil & Gas sector to report costs, asset values and profit as well as techniques of financial evaluations. You will also examine the latest risk management techniques, enabling you to manage and control oil price, exchange rate and interest rate volatility using derivatives.
In addition, we will explore project management techniques in this exciting IRES training course designed to develop and enhance your skills and knowledge of this unique industry.
Duration
5 Days
Who Should Attend?
This IRES training course is suitable for a wide range of professionals but will greatly benefit:
- Accountants and Finance Professionals responsible for financial accounting, treasury, budget preparation and management reporting
- Process and Non-technical Professionals who require a more in-depth understanding of financial accounting reporting, project management and forecasting techniques
- Financial Planners and Cost Analysts
- Line / Unit Heads with direct planning and budgeting responsibility
- Account Personnel and Business Consultants
Course Level:
Course Objectives
At the end of this IRES training course, you will learn:
- Evaluate the long term strategic issues facing the Oil and Gas industry
- Analyze the financial, economic and commercial drivers
- Evaluate performance using key financial accounting methods and techniques
- Deliver more timely and useful information to decision makers
- Improve project controls, measurement & performance reporting & overall corporate governance
Course Outline
Module 1: Introduction to Financial Accounting in Oil and Gas Industry
- Nature & Features of the Oil & Gas Sector
- The Latest Issues Facing the Oil and Gas Industry
- The Principles of Oil and Gas Financial Accounting and Reporting
- Definition of Reserves and Resources
- The Roles & Responsibilities of the Finance Professional
Module 2: Methods and Techniques of Accounting in Oil and Gas
- International Accounting Standards for Oil and Gas Companies
- Accounting Techniques in the Oil & Gas Sector
- Accounting for Costs (all types in oil & gas)
- Accounting for Assets and the Impact
- Accounting for Revenue
Module 3: The Specific Financial Information in Oil and Gas
- International Financial Reporting Standards (IFRS) & GAAP Differences
- Joint Ventures and Product Sharing Agreements
- Financial Statements
- Ratio Analysis and Interpretation
- Profitability of Oil & Gas Companies
Module 4: Evaluate Performance Measurement and Improve Efficiency
- Advanced Financial Analysis
- Evaluating Capital Investment using Various Financial Indicators: Payback, ARR, NPV & IRR
- Comparative Analysis & Benchmarking
- Earned Value Management for Oil And Gas
- Evaluation the Assets & Reserves of Oil & Gas Companies
Module 5: Risk Management & Auditing
- Understand the Market and Identify the Risks related to Oil & Gas Sector
- Process of Risk Assessment
- Compliance & Legal Requirements
- The Board & Audit Committee - roles & responsibilities
- Efficient Planning, Stability and Growth
Related Courses
Course Administration Details:
METHODOLOGY
The instructor-led trainings are delivered using a blended learning approach and comprise presentations, guided sessions of practical exercise, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience, working as professionals and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
ACCREDITATION
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
TRAINING VENUE
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
ACCOMMODATION AND AIRPORT PICKUP
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
TAILOR-MADE
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
PAYMENT
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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