Oil & Gas Accounting & Reporting Fundamentals - Perth 2013

Build your understanding and appreciation of how finance adds value to the oil and gas project lifecycle through this course.

The course will begin with a general introduction to the industry and a quick review of the basics of accounting and financial statements. We will then highlight the big picture issues that make accounting in the oil and gas industry different from accounting in many other industries, including capitalisation and expensing of cash outlays and valuation of assets.

Price:
Early Bird - 1 Day Training: $ 2744.50 AUD

Key Learning Outcomes
> Undertake a summary of the oil and gas industry and the current challenges
> Recognise the principles of oil and gas financial accounting and reporting
> Compare key oil and gas accounting methods
> Understand full cost vs successful efforts
> Learn to account for exploration, production, drilling and development costs
> Understand depreciation, depletion and amortisation in an oil and gas context
> Explain asset impairment, restoration and abandonment provisions
> Gain a working knowledge of revenue accounting
> Illustrate the accounting treatment of joint ventures and production sharing contracts
> Consider other financial and supplemental disclosures
> Analyse financial statements and KPIs that drive decision making
> Understand cost and estimation, and managing contingencies