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Cost Accounting and Cost Management in Oil and Gas Course

By: Alpha Partners


23 - 26 Oct, 2018  4 days

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USD 6,500

  • By the end of this training course, participants will learn to:
  • Determine the Costs associated with your department/company
  • Access and Manage Costs/Price Volatility
  • Use the very latest Costing Methods
  • Analyze Cost and Price Volatility to enable better decisions
  • Control Costs effectively


The Essentials of Cost and Price Management in the Oil Refinery sector 

  • Identification of the critical costs and key performance indicators in the oil refinery sector
  • A detailed examination of the income statement for an oil refinery
  • Calculation of the cost of sales for refinery products
  • Cost and price volatility within the sector
  • Allocating responsibility for cost control
  • Implementing a cost control culture within the organization

Best Practice Costing Methods

  • Best practice costing methods
  • Job order, process costing and activity-based costing methods
  • Cost and value analysis
  • Cost control
  • Monitoring of expenditure
  • Variance analysis and reporting

Cost Management and Control

  • Cost classification and cost behavior
  • Controlling fixed and variable costs
  • Reducing fixed costs
  • Cost-Volume-Profit analysis
  • Inventory control to reduce costs
  • Incentives to reduce costs

Hedging Costs and Risk Management

  • Hedging techniques to control costs and prices
  • Forwards, futures, options and swaps
  • Defining risk management and identifying costs/risks to hedge (Reduce or Eliminate)
  • Determining the hedging strategy
  • Implementing a risk management strategy
  • Hedging price volatility

Managing Project and Contract Costs and Prices

  • Achieving efficiency of time and quality within budget
  • Statistical estimates of activity duration and costs
  • Critical path analysis
  • Manpower and resource planning and management
  • Earned value management
  • Managing project risks in a cost-effective manner

For whom:

  • Accountants
  • Auditors
  • Asset Managers
  • Directors
  • Lawyers
  • Engineers  
  • Others who perform related functions in Oil and Gas.

Training Methodology:

The Training Methodology: combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties

SunLodge Hotel, Off Achimota - Circle Road Behind the Shell Filling Station at No. 76, 4th Road (Saxel Estates) Tesano – Accra, Ghana. Oct 23 - 26 Oct, 2018
USD 6,500.00(Per Participants to cover Workshop Literature and Materials, Executive Bag, Tea/Coffee, Lunch, Photograph and Certificate)
(Convert Currency)

Chris Onwuasigwe, FCA – 08033045484 08033045484

Discount of 5% for 3-5 Participants from the Same Organization Discount of 10% for 6 and Above Number of Participants from the Same Organization
A distinguished team of facilitators who are eminently qualified professionals has been assembled to lead discussions in course of the workshop.
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