Oil & Gas Accounting & Performance Measurement

Day 1:

The development and purpose of company accounts

Standards of financial reporting in the O&G industry to stakeholders

• Investor reporting

• New investors

• Taxation and royalties

• Stock market intermediaries

Day 2:

A convergence of GAAP and IFRS

• Effect on reporting

• Migration paths

• Effect on PSC reporting

• Share pricing and O&G companies

Day 3:

Capitalisation and cash flows in the Oil & Gas Industry

Sourcing capital

• Capitalizing E&P projects

• Effects of IFRS

• Capital maintenance

• Sources of capital

Day 4:

Oil & Gas Value Chain and Accounting Issues

• E&P Exploration & evaluation, borrowing costs, and development expenditures

• P&S Reserves and resources

• Product valuation issues, impairment of assets, disclosures, decommissioning

• Royalties and income taxes

• Emission trading schemes

Day 5: Company accounts, PSA’s and Joint Ventures

Accounting for multiple efforts

• Joint ventures – GAAP & IFRS

• Business combinations

• Currency issues

• Accounting treatments

Day 6:

Analysis of financial statements

• Analytical tools

• Full cost

• Successful efforts

• Decommissioning obligations

Day 7:

Auditors and reporting to investors in the oil and gas industry

External audit investigations and reports

• The auditor’s ‘Opinion'

• True and Fair

• Sarbanes Oxley

• Internal audits

Day 8:

Ethical issues

• Corporate governance

• Government regulation

• Investor confidence and share prices

• Creative accounting and investor protection

Day 9:

Investment finance in the oil and gas industry

Processes and lead times

• Sources of external finance

• Financial markets

• Investment criteria

• Roles of intermediaries in the financial markets

Day 10:

Shell and BP – Performance and Share Prices

• Analysis of Shell Oil and BP Accounts

• DuPont hierarchy of ratios

• Theoretical conclusions and live feeds from London Stock Exchange

• Influencing factors