Financial Accounting and Reporting in Oil and Gas Course


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.


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

Register for the course

Face to Face Schedules By Location
Nairobi Schedules:
Code Date Duration Location Fees
FAR022 6 Nov 2023 - 10 Nov 2023 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 4 Dec 2023 - 8 Dec 2023 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 8 Jan 2024 - 12 Jan 2024 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 5 Feb 2024 - 9 Feb 2024 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 4 Mar 2024 - 8 Mar 2024 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 1 Apr 2024 - 5 Apr 2024 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 6 May 2024 - 10 May 2024 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
FAR022 3 Jun 2024 - 7 Jun 2024 5 days Nairobi, Kenya KES 75,000 | USD 1,100 Register
Kigali Schedules:
Mombasa Schedules:
Nakuru Schedules:
Kisumu Schedules:
Naivasha Schedules:
Virtual Trainer Led Schedules
Contact Us on (+254) 715 077 817 / (+254) 792 516 000 or email us [email protected] for a virtual schedule.

Contact Us on (+254) 715 077 817 / (+254) 792 516 000 or email us [email protected] for E-Learning course.

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

Course Administration Details:


The instructor-led training is delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.


Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).


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 for their, travel expenses, visa application, insurance, and other personal expenses.


Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

Email:[email protected].  

Mob: +254 715 077 817


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 Tel: +254 715 077 817.

Mob: +254 792516000+254 792516010 or mail [email protected]


Payment should be transferred to IRES account through bank before the course start date

Send proof of payment to [email protected]

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