Nigerian Seminars and Trainings

Search conferences, training, seminars, courses and workshops in Nigeria and around the world

business logo

Management Accounting and Cost Accounting in the Downstream International Petroleum-Oil and Gas-Industry

By: HRODC Postgraduate Training Institute

United Kingdom

04 - 08 Sep, 2017  5 days

Follow Event


GBP 5,000

The course content of the management accounting and cost accounting in the downstream international petroleum-oil and gas-industry training course is as follows:

Part 1: Three Main Accounting Areas

  • Management Accounting;
  • Financial Accounting;
  • Cost Accounting

Part 2: Accounting Concepts

  • The Money Measurement Concept;
  • The Entity Concept;
  • The Going Concern Concept;
  • The Dual Aspect Concept;
  • The Accounting Period Concept;
  • The Materiality (Proportionality) Concept;
  • The Conservatism Concept;
  • Consistency Concept;
  • The Realization Concept;
  • The Matching Concept;
  • The Cost Concept.

Part 3: Management Accounting

  • Strategy and Management Accounting;
  • Management Accounting and Value;
  • Illustration of Value Chain;
  • Key Success Factors;
  • Planning and Control Systems;
  • A Five-step Decision Making Process in Planning and Control;
  • Management Accounting Guidelines;
  • A Typical Organizational Structure and the Management Accountant.

Part 4: Cost Terms and Purposes

  • Basic Cost Terminology;
  • Direct and Indirect Cost;
  • Cost Examples in the Downstream Petroleum Industry;
  • Factors Affecting Direct/Indirect Cost Classification;
  • Cost Behaviour;
  • Other Cost Concepts;
  • A Cost Caveat;
  • Multiple Classifications of Costs;
  • Different Types of Firms;
  • Types of Manufacturing Inventories;
  • Types of Product Cost;
  • Accounting vs. Cost;
  • Cost Flows;
  • Cost Flows Visualized;
  • Multiple – Step Income Statement;
  • Cost of Goods Manufactured;
  • Other Cost Considerations;
  • Different Definitions of Costs for Different Applications;
  • The Common Features of Cost Accounting and Cost Management

Part 5: Cost-Volume-Profit Analysis

  • A Five-Step Decision Making Process in Planning and Control Revisited;
  • Foundational Assumptions in CVP;
  • Basic Formulae;
  • CVP: Contribution Margin;
  • Cost-Volume-Profit Equation;
  • Break Even Point;
  • Break Even Point, Extended: Profit Planning;
  • CVP: Graphically;
  • Profit Planning: Illustrated;
  • CVP and Income Taxes;
  • Sensitivity Analysis;
  • Margin of Safety;
  • Operating Leverage;
  • Effects of Sales – Mix on CVP;
  • Alternative Income Statement Formats

Part 6: Job Costing

  • Cost Terminology;
  • Costing Systems;
  • Costing Systems Illustrated;
  • Costing Approaches;
  • Seven-step Job Costing;
  • Sample Job Cost Document;
  • Sample Job Cost Source Documents;
  • Job Costing Overview;
  • Journal Entries;
  • Flow of Costs Illustrated;
  • Illustrated General Ledger in a Job Cost Environment;
  • Accounting for Overhead;
  • Three Methods for Adjusting Over/Under applied Overhead.

Part 7: Activity Based-Costing and Cost Management

  • Broad Averaging;
  • Over and Under costing;
  • Cross-subsidization;
  • Rationale for Selecting a More Refined Costing System;
  • Cost Hierarchies;
  • ABC vs. Simple Costing Schemes;
  • Activity-Based Management

Part 8: Oil and Gas Accounting

  • Oil and Gas Production and Sales;
  • Some State and US Federal Oil and Gas Drilling Regulation;
  • Maximum Efficiency Rate (MER);
  • The Concept of Peak Oil (1);
  • 4 Basic Types of Oil:
    • Acquisition Costs;
    • Exploration Costs;
    • Development Costs;
    • Production Costs.
  • Historical Cost Accounting Methods;
  • Historical Development of Accounting Methods and Current Status;
  • Introduction to Successful Efforts Accounting;
  • Charts Accounts for Successful Efforts Company.
London, UK Sep 04 - 08 Sep, 2017
GBP 5,000.00(The course cost does not include living accommodation. However, delegates are treated with the following: Continuous snacks throughout the Event Days; Hot Lunch on Event Days; City Tour; Hand-outs; Stationery. We offer very attractive discount for groups)
(Convert Currency)

+44 7736147507; +44 1902 763607; +44 2071935906; +

Related Courses
Advanced Business Communication Course Advanced Business Communication Course

12 days, 05 - 16 Feb, 2018 

2018-02-05 12:02:00

HRODC Postgraduate Training Institute

This is a 10 day course. At the end of the course, you will receive a Diploma-Postgraduate in Advanced Business Communication (Double Credit). Courses are delivered in over 30 Cities including ...

Internal Audit, incorporating Corporate Governance and Financial Risk Management, Seminar (Belgium) Internal Audit, incorporating Corporate Governance and Financial Risk Management, Seminar (Belgium)

5 days, 16 - 20 Oct, 2017 

2017-10-16 12:10:00

HRODC Postgraduate Training Institute

By the conclusion of the specified learning and development activities of Internal Audit Course, delegates will be able to: Discuss, with confidence, the importance of internal account to an ...

Bank Cost and Budgetary Control Course - Diploma Postgraduate (Dubai) Bank Cost and Budgetary Control Course - Diploma Postgraduate (Dubai)

5 days, 20 - 24 Nov, 2017 

2017-11-20 12:11:00
United Arab Emirates

HRODC Postgraduate Training Institute

For the proposed workshop a variety of methodologies will be employed, thereby providing a wide range of ‘learning experience’ for the delegates. These will contribute greatly to learning ...

Women in Management Intensive Women in Management Intensive

3 months, 28 days, 06 Nov - 02 Feb, 2018 

2017-11-06 12:11:00
South Africa

HRODC Postgraduate Training Institute

After this women in the workplace (double credit) training program participant will understand Gender disparity in organisations Factors affecting women in the workplace Occupational segregation and ...