Exploration & Production Accounting - Level 3
Exploration & Production Accounting - Level 3 - intensive 5-day course from HOT Engineering
This Level 3 Exploration & Production Accounting course is a challenging but enjoyable training course is a highly interactive 5-day workshop designed to take E&P finance and accounting skills to an advanced level, to raise awareness and understanding of the accounting issues and standards, and to develop analytical skills for more demanding roles within the organisation.
Learning centres around a highly realistic E&P company case study. Working in groups, you will engage in a full range of finance department activities including financial planning, preparation and analysis of information for decision-making, joint venture accounting, financial reporting and analysis of company performance.
Over the course of the 5-day programme, you will work in teams of of 3-4 delegates and participate in the financial management of a hypothetical international exploration and production company, exploring such diverse activities as operator and non-operator accounting, recording of transactions, updating of financial statements and analysis of results.
A variety of highly realistic business scenarios is introduced, through which you will plan, record and report on the progress of your "company". This hands-on scenario-based approach enables you to track and analyse the impact of each activity from initiation through to final results and analysis of company performance.
Experienced financial trainers review and update your subject knowledge and skills before each scenario is introduced, and are on hand throughout the course to provide guidance and support.
Suitability - Who should attend?
This course is most suitable for professionals working in an accounting or financial management role and want to enhance your analytic and presentation skills.
To be able to participate effectively, you should have already attended the two lower-level companion courses - Exploration & Production Accounting Levels 1 and 2 - or be able to demonstrate a suitable combination of relevant experience and subject knowledge.
Outcome / Qualification etc.
By the end of the course course delegates will have developed their competencies in:
- How to carry out and manage operational financial accounting activities associated with joint ventures
- How to prepare, analyse and present information for effective financial reporting
- The impact of different activities on the financial statements of an upstream oil and gas company
- How to practically apply IFRS in accounting for a wide range of typical oil and gas industry activities
Training Course Content
The course covers:
- Your company decides to participate in a new exploration joint venture. You will review accounting policy options, enter billings into the accounting system and prepare financial statements.
- The joint venture proceeds to develop a commercial discovery. Your company also acquires an interest in a producing field. You will account for development costs, sales revenues, DD&A, a decommissioning provision, and production under the terms of a tax-based fiscal arrangement.
- Your company takes on the role of operator of a new venture. You will prepare cash calls and billings, and maintain operator accounting records.
- Your company decides to change from the full cost to the successful efforts method. You will prepare financial statements reflecting the change in accounting policy.
- You will account for your company's participation in a new venture under the terms of a production sharing contract.
- Following an earlier unitisation and a move to multi-venture operations, you will account for a redetermination and shared-cost allocations.
- A falling oil price and revised estimates of reserves indicate impairment of an asset. You will perform a test and account for the result.
- Your company adjusts its portfolio of assets. You will account for a farm-out arrangement.
- Your company's chief executive is due to meet with investment analysts. You will prepare for him a briefing on company performance and financial status.
Expenses
The course fee includes tuition, course material, refreshments and lunch per session day and a 100 EURO non-refundable registration fee. Course fees do NOT include accommodation or living costs. Applicable taxes will be added.
This course utilises computers. Additional computer fee: 250 EUR +VAT.
The course is held at a top quality hotel with excellent meeting facilities.
Provider: HOT Engineering
HOT – World Class Training for Oil & Gas Professionals
HOT is a leading oil and gas training provider and E&P consulting company. We come together as a multidisciplinary team, combining 33 years of training and consulting experience to deliver state of the art public courses, bespoke in-house courses, long-term...
Request information - obligation free
Customer Outreach Award
We believe that it should be easy for you to find and compare training courses.
Our Customer Outreach Award is presented to trusted providers who are excellent at responding to enquiries, making your search quicker, more efficient and easier, too.
Contact information for HOT Engineering
HOT Engineering
Reviews by course attendees
Find out more about this Exploration & Production Accounting - Level 3 course - simply fill out your details:
Are you curious about the L&D strategies of some of the U.K.'s top companies?
Find out what they're up to in findcourses.co.uk's first annual U.K. L&D Report!
 |
Read the course |
|
 |
Fill in your details and Request information |
|
 |
Receive all the info you need |