Petroleum Finance Accounting Principles

Petroleum Finance And Accounting Principles Courses in South Africa

2KO Africa offers various Petroleum Finance And Accounting Principles courses in Cape Town, as full time classes. Making the most efficient use of your resources is critical to the success of any company. Finance and accounting comprise the universal business language and help you manage those resources effectively. Planning and decision making that occur in an informal financial context permit better application of resources and promote competitive advantage.



The aim of this course is to improve delegates' job performance by enhancing their understanding of current international practices in finance and accounting within the E&P industry. This is achieved through an examination of (a) accounting standards, policies and practices in the oil and gas industry, and (b) the accounting and financial management implications of exploring for andproducing oil and gas. An understanding of accounting also allows a company to trace a competitor's actions from its financial statements and to plan accordingly..


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Key Features of the Program

Apply basic concepts and terminology for accounting and finance in oil and gas
Create accounting statements, including a cash flow statement from data accumulation to audited financial statements
Distinguish between the different financial statements and their roles
Distinguish between financial, managerial, and contract (joint operations) accounting
Recognize the different oil and gas accounting methods
Determine the difference between profits and cash flow
Understand financial reporting requirements for oil and gas companies under IFRS, U.K. and U.S. GAAP
Recognize accounting treatments of joint ventures such as Production Sharing Agreements
Evaluate a ceiling-test
Read and interpret those confusing footnotes
Recognize how accounting decisions can affect earnings, cash flows and operational decisions
Calculate, understand and analyse financial reports and basic oil and gas ratios



Who Should Attend this Course

Personnel new to the oil and gas accounting industry, others desiring to understand or refresh their knowledge of basic petroleum accounting concepts, other financial personnel needing to understand unique issues as they relate to the petroleum industry and technical people looking for the basic concepts of accounting and finance. Participants are encouraged to bring their company's financial reports.




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