Internal and External Payments in Oil and Gas

Course Description

A 5 day introduction to the accounting principles & practices specific to the international oil & gas industry. Course participants will gain an insight into the key accounting issues confronting the industry & best practice reporting for internal & external payments.

What Do Participants Learn?

• Review the overall petroleum value chain and an oil and gas project value chain
• Gain an awareness of the key accounting issues confronting oil and gas companies
• Develop a detailed understanding of the key accounting principles specific to the oil and gas industry
• Review cost allocation methodologies for exploration, development and production activity
• Gain an insight into accounting for oil and gas revenue
• Differentiate between the various agreements used in the oil and gas industry (JOA, PSC etc.) and their specific accounting treatment
• Understand the role of the petroleum accountant in corporate governance
• Develop perspectives on the information needs of various stakeholders (internal and external)

Who Should Attend?

• Finance personnel new to the oil and gas industry who need to understand the specialist disciplines that comprise and oil and gas company finance function
• Finance personnel who are looking at joint venture, production, cost and revenue accounting, operational budgeting, capital budgeting, activity based costing and standard costing
• Audit staff
• Treasury and tax specialists who want a broader understanding of the accounting issues in oil and gas

What Will the Learning Experience Include?

Phase: 1

Introduce

• Comprehensive pre-program activities include:
• Web-based information forms & surveys completed by attendee.
• Direct consultation with the attendee about the expectations.

• During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
• Participants learn from expert trainers who have both academic and business experiences.
• Highly applicable training content & instructive activities for adding depth to training topics.
• **A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.

Phase: 2

Explore & Practice

Phase: 3

Apply

• Apply & sustain the learning experience by using this ongoing support:
• To ensure participant has new skills or behavior progress.
• Optional, fee-based mentoring & coaching with the trainer.
• Training materials & additional documents (e-books, pdf files, presentations and articles)

• Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
• Participant's Evaluation
• Trainer's Evaluation

Phase: 4

EVALUATE