Mastering Finance for Non-Financial Oil and Gas Personnel

  • Start Date

    05 Apr, 2022

  • End Date

    08 Apr, 2022

  • Price

    ₦300,000

  • WiFi

    Free wifi

Event Details

This four-day Mastering Finance for non-financial oil and gas personnel training course is designed to help those personnel without knowledge of finance to understand the basic financial principles, theory and practice of financial reporting and analysis as they apply to the oil and gas industry.

Using a combination of instruction, group discussions, practical examples and exercises, this course is designed to ensure that delegates absorb both the theory and the practical application of the topics.

On attending this Mastering Finance for non-financial oil and gas personnel training course you will learn:

  • how to interpret, understand and act on financial information
  • how to develop more effective decision-making skills
  • elements of financial management specific to the oil and gas industry
  • a conceptual understanding of key E&P accounting topics including depreciation, reserves, decommissioning, and asset impairment tests

 

CONTENTS

Sources and uses of financial information

  • sources of financial data
  • financial information systems
  • uses of financial information for decision-making

 

Understanding financial information

  • understanding basic principles
  • the profit and loss account
  • the balance sheet
  • the importance of working capital and how to control it
  • the difference between capital expenditure and operating expenditure

 

Cash flow

  • understanding the difference between cash flow and profit
  • how to control cash flow
  • techniques for measuring financial performance
  • how to measure financial performance
  • how to compare the performance of different petroleum companies

 

Oil & Gas industry accounting policies

  • how to account for exploration and appraisal costs
  • understand the nature and classification of reserves and the use of reserve data in E&P accounting
  • DD&A - the basic concepts and examples of the Unit of Production calculation
  • understand asset impairment tests
  • how to account for decommissioning
  • a review of a sample set of E&P company published accounts

 

Effects of taxation

  • how tax effects profit and cash flow
  • the impact of tax on decisions 

 

Budget preparation and control

  • the role of financial planning
  • how to prepare a budget
  • how to control a budget

 

FOR WHOM:

Managers and supervisors wanting to improve their understanding of financial reports and make more effective use of financial information for strategic and operational decision-making

 

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.

 

DATE:

1ST BATCH: 5th – 8th April, 2022                              

2ND BATCH: 26th – 29th July, 2022

3RD BATCH: 8th – 11th Nov, 2022

Other Dates

Start Date End Date
26 Jul, 2022 29 Jul, 2022
Start Date End Date
08 Nov, 2022 11 Nov, 2022
Start Date End Date
05 Apr, 2022 08 Apr, 2022
  • Venue

    Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

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