Duration: 2 Weeks
 

Course Objectives:

This course aims to introduce you to the nature and function of management accounting specifically within oil and gas enterprises. It will address various management accounting issues, including budgeting, financial planning, cost control and variance reporting, performance reporting, capital expenditure and project controls, and auditing in the oil and gas industry.

Who Should Attend

Planners, accounting personnel in the oil and gas industry.
Prerequisite Courses

Course Overview

- Internal reporting and control systems
- Management control process and transfer pricing
- Management accounting issues in joint venture and production sharing contracts
- Joint account and non-operator
- Reports to non-operators, national oil companies and regulatory agencies
- Cost allocation methodology
- Recoverable and non-recoverable costs
- Budgeting and financial planning
- Operating expenditure control and behavior
- Capital expenditure and control
- Depreciation, depletion and amortization (DD&A)
- Typical KPIs utilized in the industry
- Standard Oil Accounting Procedures (SOAPs)

Participants should be able to:

- Know the management information requirements of relating to the phases of oil and gas project.
- Understand how to design systems to provide information for decision making relating to the phases of oil and gas projects.
- Learn the general techniques for evaluating the economic viability of oil and gas projects, as well as determining the economic sensitivity of alternative strategies.
- Engage with management accounting standards as obtained in the oil and gas industry.