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Advanced Oil and Gas Accounting: International Petroleum Accounting (2) Course (London)

By: HRODC Postgraduate Training Institute

United Kingdom

22 - 26 May, 2017  5 days

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GBP

This programme is designed specifically for all who work with financial information and measures of performance for Oil and Gas Exploration and Production activities, and people seeking to advance their career by improving their understanding of industry financial management.

The target people seeking to broaden knowledge to improve job performance include: Finance Directors and Managers; Financial Controllers; Chief Accountants; Treasury Officers; Asset Accountants; Joint Venture Accountants; Management Accountants; Internal and External Auditors; Government Regulators; Financial Analysts; Public Accountants; People who have good Financial Accounting Skills and who are interested in learning Oil and Gas Accounting.

By the conclusion of the specified learning and development activities, delegates will be able to:

  • Determine to what entity is SFAS 143 applicable
  • Identify the results of legally enforceable obligations
  • Site examples of AROs where the company is normally legally obligated
  • Know what should be considered in identifying obligating events that require recognition of an asset retirement obligation
  • Determine the effect of initial recognition of asset retirement obligation liability
  • Learn that ARO must be initially measured based on fair value in compliance with SFAS No. 143
  • Distinguish the traditional approach from Expected cash Flow Approach
  • Define a credit-adjusted risk-free rate
  • Explain the concept of market risk premium
  • Find out when companies should recognize the changes in the liability for the retirement asset obligation resulting from the passage of time or revision to either the timing or the amount of the original estimated future cash flows
  • Discuss how the changes in the asset retirement obligation due to the passage of time should be measured
  • Learn how accretion expense is computed through the interest method of allocation
  • Know when loss or gain recognized upon settlement of ARO
  • Determine how changes due to revised estimates of the amount or timing of the original undiscounted cash flows are recognized
  • Know how frequently an ARO should be assessed to determine whether a change in the estimate of the ARO is necessary
  • Determine the effects of the existence of a fund or provision of assurance by a firm that it will be able to satisfy its asset retirement obligations
London, UK May 22 - 26 May, 2017
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+44 7736147507; +44 1902 763607; +44 2071935906

Prof. Dr. R. B. Crawford – Director HRODC Postgraduate Training Institute, PhD (University of London); M.Ed. M. (University of Bath); Adv. Dip. Ed. (University of Bristol); PGCIS (Thames Valley University); ITC (UWI); Member of the Standing Council of Organisational Symbolism (MSCOS); Member of the Asian Academy of Management (MAAM); Member of the International Society of Gesture Studies (MISGS); Member of the Academy of Management (MAOM); LESAN; Professor, HRODC Postgraduate Training Institute; Visiting Professor, Polytechnic University of the Philippines (PUP)
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