International Oil & Gas Accounting Master Class
GTower Kuala Lumpur, Malaysia,
19 - 22 April 2016
Accountants and analysts in the upstream oil and gas sector face unique challenges. There are complex contractual arrangements, multiple financial reporting requirements and the fall in oil prices has triggered requirements for impairment reviews. Add to that the lack of clear guidance provided by IFRS and constant changes to the Standards and it is little surprise that this sector finds accounting for its transactions so difficult.
This course is intended to provide an in depth look at the accounting for these unique arrangements and help you and your team put them into practice and keep up to date with latest developments.
Specific areas treated include:
- Economics of PSC’s, risk sharing agreements and accounting for cost oil, tax oil and profit oil
- Different contracting arrangements such as risked service agreements and consequences for financial reporting
- Property, plant and equipment
- Intangibles and in particular exploration and evaluation activities
- Reporting of oil and gas reserves
- The challenges posed by impairment reviews
- Provisions, particularly decommissioning costs
- Accounting for farm-in, farm-outs and joint arrangements
This course is kept up to date with developments in best practices and evolution of accounting standards, and will consider the impact of IFRS 15 on revenue and the new leasing standard.
For a copy of the FULL AGENDA, please send email to: eugene@neo-edge.com
Eugene Azucena
Senior Marketing Manager
Telephone: +65 6557 9185
Twitter: @NeoedgeSG
This course is intended to provide an in depth look at the accounting for these unique arrangements and help you and your team put them into practice and keep up to date with latest developments.
Specific areas treated include:
- The impact of IFRS 15 on revenue and the new leasing standard
- Economics of PSC’s, risk sharing agreements and accounting for cost oil, tax oil and profit oil
- Different contracting arrangements such as risked service agreements and consequences for financial reporting
- Property, plant and equipment
- Intangibles and in particular exploration and evaluation activities
- Oil and gas reserves
- The challenges posed by impairment reviews
- Provisions, particularly decommissioning costs
- Accounting for farm-in, farm-outs and joint arrangements
Case Studies include:
- Case study: Identifying the key accounting issues posed by different contractual arrangements and accounting frameworks
- Case study: Accounting under full cost method
- Case study: Accounting for costs, from prospecting to evaluation
- Case study: Initial and subsequent accounting for drilling and non-drilling costs
- Case study: Estimating borrowing costs for capitalisation
- Case study: Estimation, initial and subsequent accounting for decommissioning costs
- Case study in cost allocation, DD&A and impairment
- Case study: Accounting for revenue imbalances
- Comprehensive case study: calculating cost oil, tax oil and profit oil under PSC’s
- Case study: Accounting for transactions between venturers
- Case study: Comprehensive case study examining the impact of different scenarios on PSC reserves
- Case study: Analyzing reserves disclosure
For a copy of the FULL AGENDA, please send email to: eugene@neo-edge.com
Eugene Azucena
Senior Marketing Manager
Telephone: +65 6557 9185
Twitter: @NeoedgeSG
This four-day course focuses on the accounting issues currently faced by the upstream oil and gas industry with an emphasis on operations under “Production and Risk Sharing Contracts”. It considers the accounting and financial reporting implications of all the main transactions undertaken in the upstream business, including cost allocation and capitalization, revenue allocation and the accounting issues faced by joint venture operations and operators of concessions and PSC’s. The course considers both internal accounting issues and financial reporting under US GAAP and IFRS frameworks; and is fully updated for new Standards effective for 2015, 2016 and beyond.
The course will include a wide range of learning and development approaches including:
- Lecture-based presentations
- Practice case studies
- Reviews of relevant financial statements
- Group exercises and discussions
- Expert tutor input
Alan has led numerous oil and gas courses around the world with participation of almost all the leading organisations in oil & gas industry such as Shell, BP, Eni, RWE Dea, OMV, Saudi Aramco, Dubai Supply Authority, Oman Gas, DNO Yemen, NAMCOR, Al-Khafji Joint Operations, Dragon Oil, GAPCO Kenya, NAPIMS – NNPC, TPDC, Pertamina, Department Of Energy Philippines, RAK Petroleum, PTTEP, PetroChina, Petrobras, Tullow Oil, NAPESCO, Gazprom and TPDC, etc.
TESTIMONIALS:
“The trainer’s training is a big help in identifying the issues to focus on for the coming year!”
- Head of Financial Reporting, an E&P Company in Southeast Asia
“The trainer’s is not only an excellent presenter with comprehensive knowledge in the area of oil & gas accounting, but he has a very detailed understanding in both US GAAP and IFRS. I will definately consider more courses with the trainer in the future.”
- Head of Accounting, TAQA, UAE
“A well-organized training. The trainer is a good teacher who presents in-depth materials and concrete examples with easy to understand English for full understanding of what was being presented.”
- Finance & Account Manager, Damagix Nigeria Ltd
“Once again, The trainer’s presentation style and good use of case studies was very well received by our accounts staff.”
- Accounts Manager, Rak Petroleum
For a copy of the FULL AGENDA, please send email to: eugene@neo-edge.com
Eugene Azucena
Senior Marketing Manager
Telephone: +65 6557 9185
Twitter: @NeoedgeSG
The trainer has led numerous oil and gas courses around the world with participation of almost all the leading organisations in oil & gas industry such as Shell, BP, Eni, RWE Dea, OMV, Saudi Aramco, Dubai Supply Authority, Oman Gas, DNO Yemen, NAMCOR, Al-Khafji Joint Operations, Dragon Oil, GAPCO Kenya, NAPIMS – NNPC, TPDC, Pertamina, Department Of Energy Philippines, RAK Petroleum, PTTEP, PetroChina, Petrobras, Tullow Oil, NAPESCO et cetera.
The trainer is an accounting and finance professional with nearly thirty years’ experience. For the past twenty years he has specialised in consulting and the delivery of in- house and public financial training delivering programmes in accounting and financial management. During this time he has worked across many sectors and in many countries.
Previously as a senior consultant with PwC he led a team of financial training consultants responsible for developing and delivering programmes in financial management, accounting and shareholder value.
He started his career at PwC, where he worked for eight years in London in their audit and business advisory division where he obtained his chartered accountancy qualification. After qualifying he was seconded for two years to their Paris office. On his return to London from Paris he co-founded the client training business for PwC in London. The trainer now runs a successful financial training company based in the UK and splits his time between managing that business and instructing on Oil & Gas Accounting and IFRS.
The trainer is a Fellow of the Institute of Chartered Accountants in England and Wales, a member of their finance and management faculty and has an Honours Degree in Economics from Bristol University.
Who Should Attend
The course will be of benefit to all finance and accounting professionals who require an in depth understanding of oil and gas accounting procedures including those involved in the preparation, audit or analysis of oil and gas accounts.
It will particularly benefit:
- Staff who are taking on increased financial or Accountancy responsibilities including: Chief Accountants, Financial Accountants, Accounting Clerks, Joint Venture and Joint Operating Agreement Accountants, Internal and External Auditors, Financial Analysts from financiers and regulators etc
- Operations Managers etc from various organisations wishing to improve their understanding of oil and gas accounts.
- Those accountants, auditors and analysts who are relatively new to the oil and gas industry
Participants shall have a fair working knowledge of general accounting principles and practices.
For a copy of the FULL AGENDA, please send email to: eugene@neo-edge.com
Eugene Azucena
Senior Marketing Manager
Telephone: +65 6557 9185
Twitter: @NeoedgeSG
Delegate Fee
Please contact us at enquiry@neo-edge.comor customer service hotline at +65 6557 9166 for details.
Please indicate subject title “International Oil & Gas Accounting”.
Please discuss with us today at sponsorship@neo-edge.com or call us at Tel: +65-6557 9166.
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GTower Kuala Lumpur
199, Jalan Tun Razak
50400 Kuala Lumpur, Malaysia
Hotel Reservations Contact:
Chloe Fong
Assistant Director of Sales
T: +603 2168 1919 ext 8013
F: +603 2168 1833
D: +603 2168 1806
M: +6017-6186002
E: ados@GTowerHotel.com
W: www.GTowerHotel.com
Please quote Oil & Gas Accounting Workshop Organised by Neoedge Pte Ltd to enjoy Corporate Rate.
Event Name: International Oil & Gas Accounting
Venue: Kuala Lumpur, Malaysia
Dates: 19 – 22 April 2016