This four-day course focuses on the accounting issues currently faced by the upstream oil and gas industry. It considers the accounting and financial reporting implications of all the main transactions undertaken in the upstream business, including cost allocation and capitalisation, 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.

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

The commercial and operational practices of the oil and gas industry pose unique challenges to accountants who need to operate under multiple reporting frameworks with conflicting accounting methods and with unique contractual arrangements such as production sharing contracts and joint venture arrangements. 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.

Specific areas treated include:
• 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
• Joint venture and production sharing agreements
• Financial instruments and application of hedge accounting treatments

This course is kept up to date with developments in best practices and evolution of accounting standards.

Led by a World-class Oil & Gas Accounting Expert & Trainer
Alan Mayo, Director, Maltway Ltd, UK
• 25 years’ most successful professional experience
• Co-founded the client training business of PwC London

Seats are limited! To secure your seats or for more information, call us today at +65 6557 9183 or email us at rilla.eas@neo-edge.com.