Training

Mastering Finance for Non-Financial Oil & Gas Personnel


Learn more Date of Training
05 Jun 2019

This 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.

14 hours CPD accreditation



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



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Date of Training

05 Jun 2019

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