Accounting and Finance > IFRS Accounting for the Oil and Gas Sector - Classroom Training
Code Date Format Currency Team of 10
Per Person*
Team of 7
Per Person*
Early Bird Fee
Per Person
Normal Fee
Per Person
PE1627 19 - 21 Jun 2023 Kuala Lumpur, Malaysia SGD 3439 3599 3,699 3,999
PE1627 19 - 21 Jun 2023 Kuala Lumpur, Malaysia USD 2459 2574 2,645 2,860

*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course date
Request for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements
Request for in-person classroom training or online (VILT) training format

Learn in teams and save more! Enjoy group discounts of up to 50% off normal fees for team based learning. Contact us on info@asiaedge.net to learn more today!

Code

PE1627

Date

19 - 21 Jun 2023

Format

Kuala Lumpur, Malaysia

Currency

SGD

Team of 10
Per Person*

3439

Team of 7
Per Person*

3599

Early Bird Fee
Per Person

3,699

Normal Fee
Per Person

3,999

Code

PE1627

Date

19 - 21 Jun 2023

Format

Kuala Lumpur, Malaysia

Currency

USD

Team of 10
Per Person*

2459

Team of 7
Per Person*

2574

Early Bird Fee
Per Person

2,645

Normal Fee
Per Person

2,860

*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course date
Request for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements
Request for in-person classroom training or online (VILT) training format

About this Training Course

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. This training covers the specific standards that are key to the preparation and analysis of oil and gas entity’s financial statements.

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.

  • Basic or Foundation
  • 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 leader is a London based financial trainer and consultant. He has designed and facilitated workshops for finance and non-finance professionals from over 50 countries in Europe, Middle East, Africa and Asia. He has spent considerable time working, advising and training in matters relating to international financial reporting and analysis (IFRS/IPSAS), including technical updates and delivered workshops for organisations in different sectors including oil & gas, banking, insurance, public sector, professional services firms and educational institutions. He specialises in international financial reporting and analysis (IFRS/IPSAS).

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), Saket 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.

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

Learn what past participants have said about PetroEdge training courses

Excellent facilitator, explains things very well with great use of examples.

Cairn Energy, UK

Excellent training course.

Course participant, ENI

Very clear and answered questions very well as we want.

Accounts Assistant, Cairn Energy, UK

The workshop was based around actual operations so was engaging.

Group Accountant, Cairn Energy, UK