The oil and gas industry has specific accounting and disclosure requirements for exploration, development and production activities. IFRS 6 Exploration for and Evaluation of Mineral Resources provides some guidance for the entities in the extractive industry. This 3-day training covers the impact of diverse accounting practices for upstream business, accounting issues in development and production stage, and the disclosures in relation to oil & gas companies reserves. In addition, this training covers the principles in relation to leases, joint arrangements, revenue recognition and hedging. The course includes specific standards that are key to the preparation and analysis of oil and gas entity’s financial statements.
Apart from financial reporting, the course also covers practical considerations in the application of the IFRS Sustainability Disclosure Standards (IFRS S1 and S2) for oil and gas industry.
