Financial Accounting, Reporting, and Business Support in the Oil and Gas Industry

What Will You Learn?

• Day 1: Overview of Financial Accounting in Oil and Gas
• Introduction to Financial Accounting Principles
• Unique Features of Financial Accounting in the Oil and Gas Sector
• Regulatory Framework and Reporting Standards
• Financial Controls and Governance
• Day 2: Exploration and Production Accounting
• Accounting for Exploration and Drilling Activities
• Reserves Accounting and Reporting
• Joint Venture Accounting
• Revenue Recognition in Upstream Operations
• Day 3: Downstream Operations and Refinery Accounting
• Accounting for Refining and Petrochemical Operations
• Inventory Valuation and Cost Accounting
• Product Pricing and Margin Analysis
• Financial Reporting for Downstream Activities
• Day 4: Financial Reporting and Compliance
• Financial Statement Preparation and Disclosure
• Compliance with International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)
• External Audits and Assurance
• Case Studies on Financial Reporting Challenges
• Day 5: Business Support and Decision Analysis
• Budgeting and Forecasting in the Oil and Gas Industry
• Performance Metrics and Key Performance Indicators (KPIs)
• Financial Modeling for Strategic Decision Support
• Final Project: Applying Financial Accounting and Business Support Concepts