Advanced Oil and Gas Accounting: International Petroleum Accounting – Bridging-(Diploma–Postgraduate)

HRODC Postgraduate Training Institute
In Amsterdam (Netherlands), Milano (Italy), Brussels (Belgium) and another venue.

£ 7,000 - (Rs 6,06,700)
+ VAT
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Important information

Description


Suitable for: Accounting and Advanced International Petroleum Accounting. and Gas Accounting and International Petroleum Accounting. Professionally Updating Continuous Professional Development (CPD) in Oil and Gas. Accounting. Those Migrating From Finance to Oil and Gas Accounting. Those Working In Accounts Who Would Like a Grounding In Oil and Gas Accounting. and/or International Petroleum Accounting. Finance Directors and Managers. Financial Controllers. Chief Accountants. Treasury Officers. Asset Accountants. Joint Venture Accountants

Important information
Venues

Where and when

Starts Location
Flexible
Amsterdam
Damrak 1-5, 1012, Noord Holland, Netherlands
See map
Flexible
Flexible
Brussels
Brussels Hoofdstedelijk Gewest, Belgium
See map
Flexible
Milano
Via Washington, 66 Milan, 20146, Milano, Italy
See map
Flexible
Paris 01 Louvre
(75) Paris, France
See map

Course programme

Course Contents, Concepts and Issues

Classification of Oil and Gas Operation

· Upstream

· Midstream

· Downstream

Geological and Geophysical Seismic

· 3 – D Seismic

· 4 – D Seismic

Exploration Methods and Procedures

· Finding of Oil and Gas

· Securing Leases

· Drilling for Oil and Gas

· Evaluating, Well Logging and Coring

· Completing the Well

· Cementing and Perforating

· Acidizing and Fracturing

· Artificial Lifts and Injection Wells

· Oil Production and Secondary Recovery

· Operation and Sale of Oil

Accounting Concepts

· The Money Measurement Concept

· The Entity Concept

· The Going Concern Concept

· The Dual Aspect Concept

· The Accounting Period Concept

· Materiality (Proportionality) Concept

· The Conservatism Concept

· The Consistency Concept

· The Realization Concept

· The Matching Concept

· The Cost Concept

Accounting Concept, Financial Governance, Standardization Institutions, Oil and Gas Contracts (1)

· Responsibility Accounting

Financial Governance and Standardization Institutions

· Financial Accounting Standard Board (FASB)

· The Security and Exchange Commission (SEC)

· Accounting Standards Board (ASB)

· International Accounting Standards Committee (IASC)

· International Accounting Standards Committee Foundation (IASCF)

· International Financial Reporting Standards (IFRS)

· Industry Specific Oil and Gas Accounting Standards

· Generally Acceptable Accounting Principles (GAAP) for Oil and Gas Producing

· Activities

· Oil Industry Accounting Committee (OIAC)

Oil and Gas Contracts (1)

· Duration

· Parties and Their Interaction

· Provisions in the Oil and Gas Lease Contract

Oil and Gas Contracts (2): Drilling and Development (D&D) Costs – Successful Efforts (1)

· Oil and Gas Contracts (2):

· Mineral Rights in the Oil and Gas Lease

Drilling and Development (D&D) Costs – Successful Efforts (1)

§ 4 Categories of Costs Incurred by an Oil and Gas Company:

§ Income tax accounting for drilling costs

§ IDC vs. Equipment

§ Intangible Drilling Costs (IDC)

Drilling and Development (D&D) Costs – Successful Efforts (2): Financial Accounting for Drilling and Development Costs

Drilling and Development (D&D) Costs

(2) After Christmas tree – following completion

(3) Wells other than Exploration and development Wells

Financial Accounting for Drilling and Development Costs

· Well Classification

· Proved Developed Oil and Gas Reserves

· Proved Undeveloped Reserves

· Successful Efforts, Exploration Costs

· Exploratory Drilling Costs

· Development Drilling Costs

· Stratigraphic Test Wells

· AFE’s And Drilling Contracts

· Special Drilling Operations and Problems

· Workovers

Additional Development Costs; Proved Property Costs (1) Disposition – Successful –

Successful Efforts

· Additional Development Costs

· Support Equipment and Facilities

· Drilling and Development Seismic

· Post-Balance Sheet Events

· Accounting For Suspended Well Costs

· Interest Capitalization

· Offshore and International Operations

· Problems and Issues Associated With Successful Efforts Accounting For Drilling

· Development Cost

Proved Property Costs Disposition (1) – Successful Efforts

· Costs of Property

· Cost of lease and well equipment

· Cost disposition through amortization

Proved Property Costs Disposition (2) Successful Efforts; Full Cost Accounting

· Proved Property Disposition (2) – Successful Efforts

· Full Cost Accounting

· Reserves in place – purchase

· Interest capitalization

· Limitation on capitalized costs – a ceiling

· Problems and Issues associated with Full Cost Accounting

Problems and Issues associated with Full Cost Accounting

· Accounting for Production Activities (1)

· Accumulation and allocation of costs

· Individual production costs

· Accounting for Production Activities (2)


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