IFRS Based Accounting for Oil and Gas
This course is introductory to intermediate in nature and it has been designed to provide a good level of knowledge and practice across the main aspects of IFRS based accounting in the Oil & Gas industry.
During this intensive three day course, delegates will be exposed to a variety of fiscal regimes, with the opportunity to discuss the fiscal regime in their own jurisdiction. The course discusses successful effort and full cost accounting techniques, with reference to IFRS and FASB accounting standards. In addition, delegates will also learn about intangible assets and their importance in the Oil & Gas industry as well as the fundamentals of Property, plant and equipment: Oil and Gas (Development and Production).
The impairment of development and production assets is a vital topic for the Oil & Gas industry and delegates will see these matters in action during the course. Many Oil & Gas industry arrangements are based on Joint Arrangements: Joint venture & Joint operations and delegates will explore these aspects in detail in order that they can understand apply the rules found in several IFRS once they return to work. Finally, revenue recognition, which has been a matter of research and development by various accounting standards bodies for a decade and more has culminated in IFRS 15: delegates will spend some time in discussing this standard and its implications for the future
Delegates are required to bring with them a laptop computer with Excel 2010 or 2013 already fully loaded at the start of the course.