PETROLEUM ACCOUNTING
Registrations are closed
Live-Online Training: N 145,125
Classroom Training: N 220,375
3 - 4 participants: 5% discount
5 or more participants: 10% discount
(Available also for Customised Training by Duration, Venue & Fee)
Course Contents
DAY ONE
Accounting Principles & Procedures
- Basic concepts
- Accounting policy
- Depreciation, Depletion & Amortisation
- Costs subject to DD&A – US Successful Efforts
- DD&A - UK
- Joint Production of Oil & Gas
- Full cost accounting
Joint Ventures
- Overview of Joint Venture Partnership
- Financing Joint Venture Projects
- Accounting Provisions on Joint Ventures
DAY TWO
IFRS 6 – Exploration for and Evaluation of Mineral Resources
- Recognition of exploration and evaluation assets
- Measurement of exploration and evaluation assets
- Presentation of exploration and evaluation assets
- Impairment of exploration and evaluation assets
Financial Ratios
- Reserve replacement ratios
- Reserve-life ratio
- Net well to gross well ratio
- Average reserve per well ratio
- Average daily production ratio
- Accounting rate of return
- Net present value
- Payback period
- Discounted payback period
DAY THREE
Oil & Gas Accounting Disclosures
- Nigerian Statement of Accounting Standard, SAS 14 disclosures - Accounting in the petroleum industry: Upstream activities
- Nigerian Statement of Accounting Standard, SAS 17 disclosures - Accounting in the petroleum industry: Downstream activities
- International Financial Reporting Standards, IFRS 6 disclosure of exploration and evaluation assets.