Course Description
This intensive 5-day workshop provides a comprehensive understanding of finance and accounting practices specific to the oil and gas industry. Participants will gain practical skills in financial reporting, analysis, and decision-making tailored to the sector's unique challenges. The course covers industry accounting standards, risk management, and performance measurement techniques.
Learning Objectives
- Master oil and gas accounting methods and financial reporting standards
- Analyze and interpret industry-specific financial statements
- Understand risk management and hedging strategies in the oil and gas sector
- Develop skills in project economics and investment analysis
- Learn performance measurement and management techniques for oil and gas operations
Course Modules
Day 1: Oil & Gas Industry Overview and Accounting Fundamentals
- Industry structure and financial challenges
- Oil and gas accounting principles and methods
- Relevant International Financial Reporting Standards (IFRS)
- Transaction analysis and journal entries
Day 2: Financial Reporting and Analysis
- Oil and gas financial statements
- Reserve accounting and disclosure
- Revenue recognition and production costs
- Financial ratio analysis for oil and gas companies
Day 3: Asset Management and Valuation
- Exploration and evaluation assets
- Depreciation, depletion, and amortization (DD&A)
- Impairment testing and asset retirement obligations
- Valuation techniques for oil and gas assets
Day 4: Risk Management and Project Economics
- Financial risk management in oil and gas
- Hedging strategies and derivatives
- Project economics and investment analysis
- Joint ventures and production sharing agreements
Day 5: Performance Measurement and Management
- Key performance indicators for oil and gas operations
- Budgeting and forecasting in the industry
- Cost management and operational efficiency
- Management reporting and decision support
Practical Wins for Participants
- Ability to prepare and analyze oil and gas financial statements
- Skills to evaluate investment opportunities and manage project finances
- Techniques to assess and mitigate financial risks in the industry
- Strategies to improve financial performance and operational efficiency
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
