IFRS Accounting for the Oil and Gas Sector

To enable participants to obtain an in-depth understanding of the IFRS financial statements of oil and gas companies:

• Learn the terminology and appreciate the financial reporting considerations in IFRS financial statements of oil and gas companies
• Interpret and apply relevant accounting policies and standards (IFRS 6 Exploration for and Evaluation of Mineral Resources, IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, IAS 36 Impairment of Assets), including analysis of issues in exploration, drilling, development and production stages
• Apply the key accounting principles in IFRS 15 Revenue, IFRS 16 Leases and those in relation to hedge accounting in IFRS 9 Financial Instruments
• Review the accounting for joint arrangements, production sharing contracts and conveyances
• Examine the disclosures in financial statements including those relating to reserve data and supplemental disclosures
• Evaluate and interpret IFRS financial statements of oil and gas companies

The course is useful for preparers and users of IFRS financial statements of oil and gas companies, including those seeking a comprehensive understanding of the key IFRS accounting issues in the industry. This includes staff in finance, treasury, operations, internal and external auditors, analysts, senior management and executives.

A basic understanding of financial statements under any GAAP is a pre-requisite.

• Intermediate

The training course will be delivered in Kuala Lumpur, Malaysia. The training course is presented in an interactive workshop format that allows discussion. The course will be delivered through analysis of case studies and running example problems.

Course Duration: 3 days in total.

Your Expert Course Instructor is a London based financial trainer and consultant. He has designed and facilitated training courses for finance professionals from over 50 countries in Europe, Middle East, Africa and Asia. He has spent considerable time in advising and training in matters related to international financial reporting and analysis (IFRS/IPSAS), including technical updates and delivered courses for organisations in different sectors including the oil & gas sector.

He has written material on IFRS Accounting for the Institute of Chartered Accountants in England and Wales (ICAEW) and was invited by the International Auditing and Assurance Standards Board® (IAASB®) to present on IFRS 9 Financial Instruments at their board meeting in New York. In addition, he has spoken at conferences and events organised by professional bodies and management associations.

He has previously worked with Lloyds Bank and Ernst & Young in London. In addition to being a Chartered Accountant (India), He holds IFRS certificate from the Institute of Chartered Accountants in England and Wales (ICAEW). He was awarded a full scholarship for MSc in Multinational Accounting and Financial Management in the UK. He is a CFA® charterholder.

Unlock the potential of your workforce with customized in-house training programs designed specifically for the energy sector. Our tailored, in-house courses not only enhance employee skills and engagement but also offer significant cost savings by eliminating travel expenses. Invest in your team’s success and achieve specific outcomes aligned with your organization’s goals through our expert training solutions. Request for further information regarding our on-site or in-house training opportunities.

In our ongoing commitment to sustainability and environmental responsibility, we will no longer providing hard copy training materials. Instead, all training content and resources will be delivered in digital format. Inspired by the oil and energy industry’s best practices, we are leveraging on digital technologies to reduce waste, lower our carbon emissions, ensuring our training content is always up-to-date and accessible. Click here to learn more.

To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information post training support and fees applicable