The Imperial Corporate Training Institute’s Accounting and Finance for then Oil and Gas Industry Training Course offers people and professionals the practical knowledge to understand key principles related to financial management for the oil and gas industry including, the financial structure of the oil and gas industry, accounting practices, and reporting standards for upstream, midstream, and downstream. Participants will participate in practical experiences related to financial decision making, budgeting, and cost control in this high spent, volatile environment.
This training leverages case studies from accounting firms to facilitate participant learning in key areas of exploration cost management, project evaluation, financial statement analysis, and other key finance decision making courses of action. The course will provide finance professionals, auditors, and managers the tools to read, evaluate, and manage joint ventures, asset valuations, production sharing agreements, and financial risk management in global energy markets.
Objectives:
By the end of the course, participants will be able to:
- Recognize the fundamentals of accounting and financial management for the oil and gas industry.
- Explain and apply International Financial Reporting Standards (IFRS) applicable to oil and gas exploration and production.
- Evaluate, analyze, and interpret financial statements for upstream, midstream, and downstream operations.
- Use techniques for budgeting, forecasting and the evaluation of capital and other investments in oil and gas projects.
- Recognize financial hazards and utilize strategic incentives to effectively mitigate these risks.
- Understand the tax environment, royalty structure, and cost recovery tools associated with contracts within the oil and gas sectors.
- Enhance financial planning and cost management capabilities of capital intensive projects.
- Develop a strategic comprehension of the financial implications of operational decisions for management within the oil and gas value chain.
Target Audience
This course is designed for professionals working in or associated with the oil and gas sector who manage financial processes or oversee budgetary and investment decisions. It is particularly beneficial for:
- Finance Managers and Controllers
- Accountants and Auditors
- Project Finance Analysts
- Business Development Managers
- Operations Managers
- Joint Venture Accountants
- Budget and Cost Analysts
- Treasury and Investment Officers
- Professionals in Oilfield Services and Energy Consulting Firms