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  Advanced Oil & Gas Accounting

Overview & Course Benefits

Despite the large volume of information available to assist with the interpretation of IASB standards, there is relatively little guidance tailored to the needs of the Oil and Gas industry. The structure and focus of this course is to provide such specific guidance.

In particular, this course will demonstrate and illustrate both how the IASB's standards apply to the unique accounting issues in the Oil and Gas sector, together with those controversial areas with little or no guidance from the IASB.

Attend Infocus IFRS Workshop for Oil and Gas Industry and make use of practical and real life case studies. Gain immediate knowledge and experience in how to apply the various accounting rules to your complex accounting issues in your organisation, and understand the options available to organisations in the Oil and Gas sector in applying those standards.

Key Learning Outcomes
  • APPLY various accounting rules in the oil and gas sector
  • ASSESS the impact of new IFRS 6, IAS 16, 17, 23, 36, 37, 38, 39 etc. through transition case studies
  • IDENTIFY appropriate accounting policies best suited to your company
  • MASTER updated IFRS principles and concepts
  • UNDERSTAND current status of IASB specific accounting standards for oil and gas sector
  • ADDRESS controversial areas with little or no guidance from the IASB
  • MASTER recognition and valuation of non-current assets
  • LEARN inventory and reserve accounting, revenue recognition, JV arrangements, financial instruments and derivatives, reserve disclosure and many more
  • TAKE AWAY a thorough understanding of IFRS vs US GAAP
Pre-requisites

Participants should either have attended the IFRS for Oil & Gas Accounting course or have a reasonable understanding of oil and gas accounting principles.

Level

Intermediate to advanced level. This course can be considered as the progressing course of IFRS for Oil & Gas Accounting

Teaching Methodology

This intensive workshop is highly interactive, with a focus on exercises and case studies to illustrate the application
of the key provisions of IFRS. We provide a practical and working knowledge of how to apply those standards within your own organisation. Participants should look forward to a challenging, but enjoyable, learning experience, with the trainer's personal training style providing a unique teaching environment.

While the workbook and accompanying course material contain a wealth of knowledge and examples, participants
will need a calculator to complete the activities.

Testimonials

 “This was the best course I have been on in ages. Really helpful – lots of great info – I look forward to applying it to some cases I have”
- Finance Director, Dana Gas

"The trainer has a remarkable ability to explain material in clear manner and answer questions thoroughly and concisely"
- Finance Manager, Petronas

"He was an excellent presenter. He made things simple, was guided by our questions, and was very patient”
- Manager, PricewaterhouseCoopers

“His knowledge of the subject is excellent.  He clearly understands accountant’s needs and what they need to know”
- Finance Manager, Vietnam Oil and Gas Group

Course Certificate

Upon the successful completion of this course, you will receive a Certificate of Attendance bearing the signatures
from both the Expert Workshop Leader and the Course Organiser. This Certificate will testify your endeavour and
serve towards your professional advancement.

 

Endorser

AFSEA Global Energy Certification    

 

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