Download Course Flyer

Five Day Workshop is split into three main topic headings will raise your knowledge and understanding of E&P finance and accounting through industry-specific examinations of current international practices and developments in financial accounting, joint-venture and production-sharing accounting and budgeting and cost control.

Financial Accounting

This segment of the course will enhance your knowledge of the financial accounting and reporting issues which are unique to exploration and production. The focus will be on International standards (IFRS) but reference will also be made to US standards. By reviewing E&P company accounts you will gain an understanding of the impact of adopting different accounting policies. 

Joint Venture and Production Sharing Accounting

This segment of the course will enhance your knowledge of joint-venture and production sharing accounting issues, with emphasis on their accounting  requirements. Reference will be made to sample JV and production sharing contracts from different countries, and to attempts to standardise accounting practice, e.g. COPAS, SOAP. 

Budgeting and Cost Control 

This final segment of the course will improve your abilities to prepare departmental and companywide E&P budgets and control and analyse the costs incurred. It will also enable you to understand the nature of costs unique to an E&P company, and how these costs behave under different conditions. Realistic examples are provided to encourage you to develop a model of good budgeting and cost-control practice that can be applied back in the workplace, along with a team exercise to simulate the preparation of the annual budget of an E&P company.

Who should attend?

We recommend that, to derive maximum benefit from this course, you should first attend our predecessor Level 1 course. Otherwise, this course is suitable for personnel with a good foundation knowledge in exploration and production accounting.

 

“The exercises are excellent. They break up the listening and are a great learning opportunity”. Matt Burgess - SWE