Advanced Oil and Gas Accounting: International Petroleum Accounting – Bridging - (Diploma–Postgraduate)
Training
In Al Farwānīyah (Kuwait)
*Indicative price
Original amount in GBP:
£ 5,600
Description
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Type
Training
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Location
Al farwānīyah (Kuwait)
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Duration
7 Days
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Start date
Different dates available
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
Facilities
Location
Start date
Start date
Reviews
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)
Advanced Oil and Gas Accounting: International Petroleum Accounting – Bridging - (Diploma–Postgraduate)
*Indicative price
Original amount in GBP:
£ 5,600