IFRS for the Oil and Gas and Petrochemical Sectors

Course Code: FNBN 1230

94 Course Visits

Course Sector:

Finance, Accounting and Banking

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Course Dates and Locations

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No.

Date

Days

Location

Fees

Enrollment

08 - 12 Sep 2024

5 Days

Manama, Bahrain

$4,250

11 - 15 Nov 2024

5 Days

Dubai, UAE

$4,250

Introduction

Training course introducion / brief

Analytical techniques

This training course is designed to provide participants with the essential principles and key concepts of accounting, reporting, and performance measurement specific to the oil & gas and petrochemical sectors, covering upstream, midstream, and downstream activities. This course aims to enhance participants' skills in preparing, utilizing, and critically assessing information pertaining to various aspects of the industry, employing specialized industry knowledge and analytical techniques. Through practical case studies, facilitated group discussions, and real-life scenarios from delegates' organizations and other oil and gas companies, attendees will engage in analysis and evaluation of current issues, policies, and procedures

Training Course Methodology

This course is designed to be interactive and participatory, and includes various learning tools to enable the participants to function effectively and efficiently. The course will use sessions, exercises, and case applications, and presentation about proven-by-practice methods, new insights and ideas about emotional intelligence and its effects in a corporate world.

Develop an understanding of the accounting standards, policies, and practices used by companies in the Oil & Gas industry.
Explore the nature and financial implications of Production Sharing Contracts and other agreements between host governments and international companies.
Examine issues and guidelines in accounting for Joint Ventures.
Identify and know how to apply international and national accounting standards most relevant to the industry.
Improve the relevance and reliability of financial reports to better meet the needs of users.
Review and use publicly available information for benchmarking the business performance of companies in the industry.

Executives who have strategic financial oversight of their unit or organization
Finance-related roles
Accounting-related roles
Marketing Managers
Financial managers
Affiliate marketing leaders
Career Enhancers
Digital Innovators
Business owner / Entrepreneur
General / Senior Accountant
Business Project Manager
Bank Branch Manager
Structured Finance Senior Relationship Manager
Finance Transformation Manager
Risk Manager
Investment Analyst

Major Accounting Issues facing the Oil & Gas and Petrochemical Industry (Upstream, Midstream & Downstream) and the Role of IFRS

The Latest Accounting Issues facing the Oil & Gas and Petrochemical Industry (upstream, midstream & downstream)
The Impact of Commodity Prices, Currency & Interest Rate Fluctuations and Political and Environmental Developments
The Impact on Strategic Development and Growth within the Industry
Establishing the Case for IFRS
An Overview of IFRS in relation to the Oil & Gas Industry
The Annual Reports & Financial Statements of Leading International Petroleum Companies

Accounting for Assets in the Oil & Gas and Petrochemical Industry (Upstream, Midstream & Downstream)

IAS 16: Property, Plant and Equipment and Depletion, Depreciation & Amortisation (“DD&A”)
IAS 36: Impairment of Assets
IFRS 6: Exploration for and Evaluation of Mineral Assets and the Accounting Approaches
IFRS 13: Fair Value Measurement
IAS 2 Inventories
Reserve Reporting

Accounting for Business Combinations, Joint Ventures & Production Sharing Agreements (“PSA”s)

IFRS 3: Business Combinations
IFRS 10: Consolidated Financial Statements
IAS 38: Intangible Assets
IFRS 12: Disclosure of Interests on Other Entities
IFRS 11: Joint Arrangements
Break Even Oil, Cost Oil & Profit Oil

Accounting for Cash Flow & Financial Instruments in the Oil & Gas and Petrochemical Industry (upstream, midstream & downstream)

IAS 7 Statement of Cash Flows
The Use of Derivatives in the Oil & Gas & Petrochemical Sector to Manage the Commodity, Currency and Interest-rate Risks, etc.
Treasury Management Issues for Multi-nationals
IFRS 7 Financial Instruments: Disclosures
IFRS 9 Financial Instruments
Evaluating the Cash Flow & Use of Financial Instruments by Leading International Oil & Gas and Petrochemical Companies

Creative Accounting and Corporate Governance

Creative Accounting
Enron and Investor Protection
Corporate Governance
The Role of the Board & Audit Committee
External Auditing - reporting to investors
Internal Auditing - Defining and Developing the Internal Audit Process

Boost certificate of completion

BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.

ENDORSED EDUCATION PROVIDER

Flexible deadlines

Customized dates accordance to your schedule

Shareable Certificate

Earn certificate upon completion

COURSE METHODOLOGY

Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).

At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.

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TRAINING COURSE: IFRS for the Oil and Gas and Petrochemical Sectors