Petroleum Finance and Accounting Principles

Start Dates: Sep 06, 2010-Sep 17, 2010 Dec 22, 2010-Dec 03, 2010

Duration

2 Weeks


Course Objectives

In the rapidly changing global oil and gas economy, it is critical to the success of any producing company to make the most efficient use of its resources. Finance and accounting comprise the universal business language. Planning and decision making that occur in an informal financial context permit better application of resources and promote
competitive advantage.


Who should attend

Planners, accounting personnel in the oil and gas industry,


Prerequisites

None


Course Overview

Constructing the basic financial statements

The financial reports for basic statements

International Generally Accepted Accounting Principles

Accounting Standards, Understanding footnotes and disclosures

Special Issues in Oil and Gas Accounting the latest accounting issues

Comparison of different accounting elements Full Cost, Successful Efforts and Revenue Recognition method of accounting

Basic petroleum costs

Accrual and Cash Accounting

Accounting for Intangible Drilling costs

Profits Vs Cash Flows

Capital Vs Operating Tangible Asset Leases

Budgeting and Forecasting operating Vs capital budgeting methods


Learning Goal

Participants should gain knowledge of:

The need, function, and benefit of strategic control

Planning strategy and tactical implementation

Strategy & tactics for a world class organisation

Leadership in performance of people and processes


Course Materials

Course Notes


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