SAP and Joint Venture Accounting-(Diploma-Postgraduate)

Course Outline

Module 1 – Sales and Accounts Receivables

How to raise a Sales Invoice

Mapping correct accounts to Sales Invoice

Component of Oil and Gas Sales

Managing Accounts Receivable

Customer Data Base Maintenance

Aging Analysis

Approval lines for Sales invoices

Module 2 – Purchases and Accounts Payable

Contract Set up in SAP

Map Purchase orders to Contracts

Purchase order approval process in SAP

Map Purchase order to cost ledger accounts

Set up payment terms in SAP

System to prompt for payment run

Module 3 – Fixed Asset Accounting

Set up Fixed Asset parameters for :

Exploration Wells

Appraisal Wells

Development Wells

Subsea Equipments

Flowlines

Moveable Assets

Determine Asset Classes

Sub – classes

Asset Description

Set up Depreciation parameters

Run monthly depreciation testing

Maintain an Asset Register on SAP

Module 4 – Project Accounting

Cost Centre, Resource codes set up

Map GL accounts to Cost Centre and Resource Codes

GL accounts to roll up to correct cost headings

Map Cost Centres and or Resource codes to Projects

Identifying all Project costs via cost centres or resource codes

Report generation along project lines

Generate Profit and Loss account by Projects

Set up Project Reports that can be understood by Project Managers

Module 5 – Joint Venture Accounting

Cut Back Process

Partners share

Billable and Recoverable

Authorisation for Expenditure (AFE)

Billable and Non-Recoverable

Non-Billable and Non-Recoverable

Exclusive

Implementing Joint Venture accounting agreements within the SAP system

Account Reconciliation

Joint Venture Reports