International E&P Oil and Gas Accounting
July 31, 2017 - August 3, 2017 - Kuala Lumpur SG
This four-day course provides a sound understanding of accounting and finance related issues, policies and practices specific to the international oil & gas Exploration and Production (E&P) industry. You will explore each of the stages in the lifecycle of an oil & gas project from rank exploration to production, how the technical work of exploration, development and production is actually carried out and the types of costs involved at each stage. You will be exposed to how these activities are accounted for and reported under international reporting standards such as GAAP and IFRS. You will learn how to prepare monthly and annual accounts for an international E&P company with multiple E&P projects at various stages in their project lifecycle. You will also come to understand matters related to preparing of reports, variance analysis and commentary to provide information both internally and externally. And finally, you will appreciate how the operator of a joint venture collects and allocates expenditures so that they are accounted for under each joint venture and reported against the correct budget and AFE for cost control purposes.