IFRS for Oil & Gas Accounting

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    Date/Time
    Date(s) - 25/08/2016
    All Day

    Location
    Kuala Lumpur

    Categories


    Tackling specific challenges facing oil & gas industry’s IFRS implementation and updates”

     

    22 – 25 August 2016, Kuala Lumpur

    http://infocusinternational.com/ifrs

     

    Pre-requisites

    Understanding of basic accounting principles based on any national standard. No advanced preparation is required.

    Level

    Introductory to intermediate level. It is a precursor / pre-requisite to the Advanced Oil & Gas Accounting course.

    Overview

    This course is designed for those with limited exposure to the methodologies and techniques associated with accounting for the oil and gas industry, together with those who wish to formalise their understanding gained through on the job experience.

    The course examines all elements of oil and gas operations and considers eff ective and commonly utilised accounting treatments, classifi cations, recognition criteria and valuation and measurement decisions, based on national standards, US GAAP and International accounting standards.

    You will gain understanding in key terminology and processes necessary for successful accounting careers with the industry, and will gain the confi dence necessary to participate in industry accounting activities.

    Benefits of Attending

     

    • UNDERSTAND the terminology, processes and activities in Oil and Gas operations
    • APPRECIATE the unique accounting issues arising from participation in the Oil and Gas industry and the potential solutions available to address issues
    • MASTER the accounting for upstream activities under both the successful efforts and full cost methodologies and implication for Profit & Loss and Balance Sheet classification
    • DETERMINE appropriate chart of account structures for industry participants appropriate for accounting methodologies
    • APPRECIATE the different categorisation of drilling activities between pre-exploration, exploration and development activities
    • EXPLAIN the value chain for upstream Oil and Gas entities and the accounting implications of each link
    • MASTER the accounting treatment for exploration, development and production activities
    • UNDERSTAND when to capitalise and when to expense costs undertaken during exploration and development activities
    • APPRECIATE the interaction between IFRS and national standards
    • CALCULATE appropriate depreciation, amortisation and depletion of capitalised cost under permitted and commonly utilised methodologies
    • APPRECIATE the accounting issues and solutions for decommissioning and asset retirement obligations
    • MASTER the accounting steps and entries under typical Production Sharing Contracts and differences with International
    • Accounting Standards

     

    Who Should Attend

     

    Oil & Gas professionals of:

    • Accountants
    • CFOs
    • Financial analysts
    • Financial reporting managers
    • Cost controllers
    • Budget officers
    • Auditors
    • Treasurers
    • Tax managers
    • Asset managers
    • Credit controllers
    • Economists
    • Business and investment analysts
    • Project accountants
    • Forensic accountants
    • Finance controllers
    • Corporate finance managers
    • Regulatory compliance officers
    • Plus anyone who deals with IFRS

    To register/enquire, please contact:

    Reanne Lee       

    Infocus International Group

    Tel: +65 6325 0254 | Email: reanne[at]infocusinternational.com

    Web: http://infocusinternational.com/epcenergy