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Management Accounting and Cost Accounting in the Downstream International Petroleum-Oil and Gas-IndustryBy: HRODC Postgraduate Training InstituteUnited Kingdom 19 - 23 Feb, 2018 5 days
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 | Feb 19 - 23 Feb, 2018 |
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) |
+44 7736147507; +44 1902 763607; +44 2071935906; +
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