course | IFRS for the Oil and Gas and Petrochemical Sectors
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FNBN-2208 | IFRS for the Oil and Gas and Petrochemical Sectors
Course Sector : Finance, Accounting and Banking
| Duration | Date from | Date to | Course Venue | Course fees | Book a course |
|---|---|---|---|---|---|
| 5 Days | 2025-09-07 | 2025-09-11 | Muscat | $4,250 | Book now |
| 5 Days | 2025-09-08 | 2025-09-12 | Abu Dhabi | $4,250 | Book now |
| 5 Days | 2025-11-10 | 2025-11-14 | Jakarta | $4,950 | Book now |
Course Introduction
Analytical techniques
Training Course Methodology
This course is designed to be interactive and participatory, and includes various learning tools to enable the participants to function effectively and efficiently. The course will use sessions, exercises, and case applications, and presentation about proven-by-practice methods, new insights and ideas about emotional intelligence and its effects in a corporate world.
Course objective
- Develop an understanding of the accounting standards, policies, and practices used by companies in the Oil & Gas industry.
- Explore the nature and financial implications of Production Sharing Contracts and other agreements between host governments and international companies.
- Examine issues and guidelines in accounting for Joint Ventures.
- Identify and know how to apply international and national accounting standards most relevant to the industry.
- Improve the relevance and reliability of financial reports to better meet the needs of users.
- Review and use publicly available information for benchmarking the business performance of companies in the industry.
Course Outline | DAY 01
Major Accounting Issues facing the Oil & Gas and Petrochemical Industry (Upstream, Midstream & Downstream) and the Role of IFRS
- The Latest Accounting Issues facing the Oil & Gas and Petrochemical Industry (upstream, midstream & downstream)
- The Impact of Commodity Prices, Currency & Interest Rate Fluctuations and Political and Environmental Developments
- The Impact on Strategic Development and Growth within the Industry
- Establishing the Case for IFRS
- An Overview of IFRS in relation to the Oil & Gas Industry
- The Annual Reports & Financial Statements of Leading International Petroleum Companies
Course Outline | Day 02
Accounting for Assets in the Oil & Gas and Petrochemical Industry (Upstream, Midstream & Downstream)
- IAS 16: Property, Plant and Equipment and Depletion, Depreciation & Amortisation (“DD&A”)
- IAS 36: Impairment of Assets
- IFRS 6: Exploration for and Evaluation of Mineral Assets and the Accounting Approaches
- IFRS 13: Fair Value Measurement
- IAS 2 Inventories
- Reserve Reporting
Course Outline | Day 03
Accounting for Business Combinations, Joint Ventures & Production Sharing Agreements (“PSA”s)
- IFRS 3: Business Combinations
- IFRS 10: Consolidated Financial Statements
- IAS 38: Intangible Assets
- IFRS 12: Disclosure of Interests on Other Entities
- IFRS 11: Joint Arrangements
- Break Even Oil, Cost Oil & Profit Oil
Course Outline | Day 04
Accounting for Cash Flow & Financial Instruments in the Oil & Gas and Petrochemical Industry (upstream, midstream & downstream)
- IAS 7 Statement of Cash Flows
- The Use of Derivatives in the Oil & Gas & Petrochemical Sector to Manage the Commodity, Currency and Interest-rate Risks, etc.
- Treasury Management Issues for Multi-nationals
- IFRS 7 Financial Instruments: Disclosures
- IFRS 9 Financial Instruments
- Evaluating the Cash Flow & Use of Financial Instruments by Leading International Oil & Gas and Petrochemical Companies
Course Outline | Day 05
Creative Accounting and Corporate Governance
- Creative Accounting
- Enron and Investor Protection
- Corporate Governance
- The Role of the Board & Audit Committee
- External Auditing - reporting to investors
- Internal Auditing - Defining and Developing the Internal Audit Process
BOOST’s Professional Attendance Certificate “BPAC”
BPAC is always given to the delegates after completing the training course,and depends on their attendance of the program at a rate of no less than 80%,besides their active participation and engagement during the program sessions.
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