IFRS Joint Venture Accounting for the Oil and Gas Sector

  • Start Date

    10 May, 2021

  • End Date

    12 May, 2021

  • Price

    ₦300,000

  • WiFi

    Free wifi

Event Details

This IFRS Joint Venture Accounting for the Oil and Gas Sector course explains the nature and form of joint ventures and covers in detail the relationships between operators and non-operators in joint ventures, the financing of joint venture operations and the reporting of joint costs. Our specialist instructors also describe internal accounting for the costs and revenues from joint operations from the individual participant's point-of-view. The program also covers the requirements of IFRS 11 Joint Arrangements and IAS 28 Investments in Associates and Joint Ventures and is fully up to date with the latest amendments to those Standards.

 

COURSE OBJECTIVES

  • Understand the nature and structure of joint ventures in the oil and gas industry
  • Learn the external financial reporting requirements for joint ventures
  • Comprehend the mechanisms of financing and reporting the operations of joint ventures
  • Appreciate the issues regarding intra-partner relationships, including cost allocation and audits

COURSE CONTENT

  • Characteristic features of the oil and gas industry
    • Scale of operations
    • Nature and timing of cash flows
    • Risks
    • Determination of success
  • The nature of joint ventures and reasons why oil and gas companies participate in them
  • Types of joint ventures across the globe
  • Typical provisions of joint venture agreements
  • IFRS 11 Joint Arrangements and IAS 28 Investments in Associates and Joint Ventures
  • Relationship between operator and non-operator participants
  • The financing of joint ventures – billing statements and cash flow reporting
  • Reporting of expenditures
  • Budgets and approvals
  • Cost allocation methods and issues
  • Revenue recognition relating to over and under-lifting
  • Unitisations and adjustment of interests
  • Audits

 

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:                       10th – 12th May, 2021

2ND BATCH:                      7th – 10th September, 2021

3RD BATCH:                      20th – 22nd December, 2021

Other Dates

Start Date End Date
30 Nov, 2020 30 Nov, 2020
Start Date End Date
10 May, 2021 12 May, 2021
Start Date End Date
07 Sep, 2021 10 Sep, 2021
Start Date End Date
20 Dec, 2021 22 Dec, 2021
  • Venue

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

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