Course Details

This course is appropriate for a wide range of professionals but not limited to:

• Accountants and finance professionals in oil and gas.
• Auditors and compliance officers in energy companies.
• Project managers overseeing financial aspects of oil projects.
• Business analysts and consultants in the energy sector.
• Executives seeking insights into financial management.

• Expert-led sessions with dynamic visual aids
• Comprehensive course manual to support practical application and reinforcement
• Interactive discussions addressing participants’ real-world projects and challenges
• Insightful case studies and proven best practices to enhance learning

By the end of this course, participants should be able to:

• Understand key accounting principles for oil and gas operations.
• Apply cost allocation and revenue recognition methods.
• Evaluate financial statements and performance metrics.
• Navigate tax and regulatory requirements in the industry.
• Use accounting data to support decision-making and compliance.

DAY 1

Introduction to Oil and Gas Accounting

• Welcome and introduction
• Pre-test
• Overview of oil and gas industry accounting principles
• Key financial challenges in upstream, midstream, and downstream
• Accounting standards: IFRS, GAAP, and industry-specific guidelines
• Case study
• Group discussion

DAY 2

Cost Accounting and Allocation

• Cost structures in oil and gas operations
• Exploration, development, and production cost allocation
• Joint venture accounting and cost-sharing
• Case study
• Workshop

DAY 3

Revenue Recognition and Financial Reporting

• Revenue recognition in oil and gas contracts
• Financial statement preparation and analysis
• Key performance metrics: ROCE, NPV, and IRR
• Case study
• Group exercise

DAY 4

Taxation and Regulatory Compliance

• Tax regimes in the oil and gas industry
• Royalties, production taxes, and incentives
• Auditing and compliance in energy accounting
• Risk management in financial reporting
• Workshop

DAY 5

Strategic Financial Management

• Using accounting data for strategic decision-making
• Budgeting and forecasting in oil and gas
• ESG and sustainability reporting in finance
• Final team project
• Post-test
• Certificate ceremony