Financial Accounting, Reporting & Business Support in the Oil and Gas Industry
A programme on internationally accepted accounting methods used in the Oil & Gas sector to report costs, asset values and profit, plus risk and project-management techniques.
5 Days
Programme overview
This training programme provides participants with financial knowledge and skills through the evaluation of strategic issues and challenges facing the Oil & Gas industry.
It explores internationally accepted accounting methods and techniques used in the Oil & Gas sector to report costs, asset values and profit, as well as techniques of financial evaluation.
The programme also examines risk-management techniques for managing and controlling oil price, exchange-rate and interest-rate volatility using derivatives. Project-management techniques are also explored to develop and enhance participants' understanding of the industry.
Finance and accounting professionals in the Oil & Gas sector work with reporting requirements, reserves and resources classification, joint-venture and production-sharing arrangements, capital-intensive asset accounting, that have no direct equivalent in most other industries. This programme builds that sector-specific fluency alongside the broader financial-evaluation and governance skills the role demands.
Why this programme matters
Oil & Gas financial accounting carries reporting obligations, reserves and resources disclosure, joint-venture accounting, IFRS treatment of exploration and production assets, that general accounting training does not cover, yet the accuracy of that reporting directly affects investor confidence, regulatory standing and internal decision-making. Finance professionals who understand both the sector's technical accounting requirements and how to evaluate performance against them are positioned to deliver information that leadership can actually act on.
Learning objectives
- Evaluate long-term strategic issues facing the Oil & Gas industry.
- Analyse financial, economic and commercial drivers.
- Evaluate performance using key financial accounting methods and techniques.
- Deliver more timely and useful information to decision-makers.
- Improve project controls, measurement, performance reporting and corporate governance.
Key programme highlights
- Major strategic issues affecting the Oil & Gas industry
- Key financial accounting methods and techniques specific to the sector
- Joint ventures and product-sharing agreements
- Risk-management techniques for oil price, exchange-rate and interest-rate volatility
- Project-management techniques as applied to Oil & Gas finance
- Capital-investment evaluation using Payback, ARR, NPV and IRR
- Governance, audit and compliance obligations specific to the sector
Training methodology
The programme uses interactive presentations, discussion, case studies and practical exercises, incorporating real issues brought to the workshop by delegates where appropriate.
Who should attend
- Accountants and Finance Professionals responsible for financial accounting, treasury, budget preparation and management reporting
- Process and Non-technical Professionals requiring a deeper understanding of financial accounting, reporting, project management and forecasting
- Financial Planners and Cost Analysts
- Line / Unit Heads with planning and budgeting responsibility
- Account Personnel and Business Consultants
Organisational impact
- In-depth knowledge of finance and accounting issues
- Knowledge and skills to prepare accounts in accordance with IFRS
- Ability to evaluate the impact of major IFRS requirements
- Skills to evaluate performance and recommend actions
- Awareness of risk and techniques to manage risk
- Ability to work independently and as effective team members
Personal impact
- Better understanding of the context and importance of their work
- Improved knowledge and skills
- Ability to evaluate, analyse and recommend action
- Increased confidence and motivation
- Greater job satisfaction in providing quality support to management
- Greater ability to supervise, develop and motivate colleagues
Course outline
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Considering this for your organisation?
Talk to our corporate learning team about delivering this programme, or a bespoke variant of it, for your team.