Overview & Course Benefits
Despite the large volume of information available to assist with the interpretation of IASB standards, there is relatively little guidance tailored to the needs of the Oil and Gas
industry. The structure and focus of this course is to provide
such specific guidance.
In particular, this course will demonstrate and illustrate both how the IASB's standards apply to the unique accounting issues in the Oil and Gas sector, together with those controversial areas with little or no guidance from the IASB.
Attend Infocus IFRS Workshop for Oil and Gas Industry and make use of practical and real life case studies. Gain immediate knowledge and experience in how to apply the various accounting rules to your complex accounting issues in your organisation, and understand the options available to organisations in the Oil and Gas sector in applying those standards.
Key Learning Outcomes
APPLY various accounting rules in the oil and gas sector
ASSESS the impact of new IFRS 6, IAS 16, 17, 23, 36, 37, 38, 39 etc. and gain through transition case studies
IDENTIFY appropriate accounting policies best suited to your company
MASTER updated IFRS principles and concepts by end of 2012
UNDERSTAND current status of IASB specific accounting standard for oil and gas sector
ADDRESS controversial areas with little or no guidance from the IASB
MASTER recognition and valuation of non-current assets
LEARN inventory and reserves accounting, revenue recognition, M&A, JV arrangement, financial instruments, reserve disclosure and many more
TAKE AWAY a complete understanding of IFRS vs US GAAP
Understanding of basic accounting principles based on any national standard.
No advance preparation is required.
Introductory to intermediate level. It is a precursor / pre-requisite to the Advanced Oil & Gas Accounting course.
This intensive workshop is highly interactive, with a focus
on exercises and case studies to illustrate the application
of the key provisions of IFRS. We provide a practical and working knowledge of how to apply those standards within your own organisation. Participants should look forward to a challenging, but enjoyable, learning experience, with the trainer's personal training style providing a unique teaching environment.
While the workbook and accompanying course material contain a wealth of knowledge and examples, participants
will need a calculator to complete the activities.
“This was the best course I have been on in ages. Really helpful – lots of great info – I look forward to applying it to some cases I have”
- Finance Director, Dana Gas
"The trainer has a remarkable ability to explain material in clear manner and answer questions thoroughly and concisely"
- Finance Manager, Petronas
"He was an excellent presenter. He made things simple, was guided by our questions, and was very patient”
- Manager, PricewaterhouseCoopers
“His knowledge of the subject is excellent. He clearly understands accountant’s needs and what they need to know”
- Finance Manager, Vietnam Oil and Gas Group
Upon the successful completion of this course, you will
receive a Certificate of Attendance bearing the signatures
from both the Expert Workshop Leader and the Course Organiser. This Certificate will testify your endeavour and
serve towards your professional advancement.