By the conclusion of the specified learning and development activities, delegates will be able to demonstrate a heightened understanding of the following concepts and issues:
- Sales and accounts receivables
- how to raise a sales invoice
- Mapping correct accounts to sales invoice
- Component of oil and gas sales: price, quantity.
- Managing accounts receivable
- Customer data base maintenance
- aging analysis
- Approval lines for sales invoices: issuer, authorizer.
- Purchases and accounts payable
- Contract set up in sap: including contract terms, rates, taxes.
- map purchase orders to contracts
- Purchase order approval process in SAP
- map purchase order to cost ledger accounts
- Set up payment terms in sap
- System to prompt for payment run.
- Fixed asset accounting
- Set up fixed asset parameters for: exploration wells; appraisal wells; development wells, subsea equipment’s, flow lines, moveable assets
- Determine asset classes: sub - classes, asset description.
- Set up depreciation parameters: straight-line, UOP, reducing balance.
- Run monthly depreciation testing;
- Maintain an asset register on sap.
- Project accounting
- Cost centre, resource codes set up
- Map GL accounts to cost centre and resource codes
- GL accounts to roll up to correct cost headings
- Map cost centres and/or resource codes to projects
- Identifying all project costs via cost centres or resource codes
- Report generation along project lines
- Generate profit and loss account by projects
- Set up project reports that can be understood by project managers.
- Joint venture accounting
- Cut back process
- Partners share
- billable and recoverable
- Authorisation for expenditure (AFE)
- Billable and non-recoverable
- Non-billable and non-recoverable
- implementing joint venture accounting agreements within the sap system
- Account reconciliation
- Joint venture reports.