Training

Mastering Finance for Non-Financial Oil and Gas Personnel


Learn more Date of Training
12 Mar 2019

This 2 day course allows personnel who don't have a financial background to understand the basic principles, theory and practice of financial reporting and analysis as they apply to the oil and gas industry.

What you will learn

  • how to interpret, understand and act on financial information
  • how to develop more effective decision-making skills
  • elements of financial management specific to the oil and gas industry
  • a conceptual understanding of key E&P accounting topics including depreciation, reserves, decommissioning, and asset impairment tests

Training methods

The course uses a combination of instruction, group discussions and practical examples and exercises to ensure delegates absorb both the theory and the practical application of the topics.

Sources and uses of financial information

  • sources of financial data
  • financial information systems
  • uses of financial information for decision-making

Understanding financial information

  • understanding basic principles
  • the profit and loss account
  • the balance sheet
  • the importance of working capital and how to control it
  • the difference between capital expenditure and operating expenditure

Cash flow

  • understanding the difference between cash flow and profit
  • how to control cash flow
  • techniques for measuring financial performance
  • how to measure financial performance
  • how to compare the performance of different petroleum companies

Oil & Gas industry accounting policies

  • how to account for exploration and appraisal costs
  • understand the nature and classification of reserves and the use of reserve data in E&P accounting
  • DD&A - the basic concepts and examples of the Unit of Production calculation
  • understand asset impairment tests
  • how to account for decommissioning
  • a review of a sample set of E&P company published accounts

Effects of taxation

  • how tax effects profit and cash flow
  • the impact of tax on decisions

Budget preparation and control

  • the role of financial planning
  • how to prepare a budget
  • how to control a budget


Learn More

https://mdtinternational.com/


Date of Training

12 Mar 2019

non-financialoil and gas professionalsbasic principlestheoryFinancial ReportinganalysisOil and Gas IndustryAccountingOilgasIndustryfinancial managementdepreciationReservesDecommissioningasset impairmentBudgeting

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