IFRS for the Oil & Gas and Petrochemical Sectors

This is a 5-day IFRS training for the Oil & Gas and Petrochemical Sectors to acquire knowledge of the main aspects of IFRS-based accounting in the Oil & Gas industry.

You will learn about different fiscal regimes and discuss them in their own jurisdiction. It also includes discussions on effort and full cost accounting techniques with reference to IFRS accounting standards as set out by The IFRS Foundation.

Additionally, discussions will take place about intangible assets and their importance in the Oil & Gas industry, fundamentals of Property, plant and equipment: Oil and Gas (Development and Production), impairment of development and production assets, revenue recognition and much more. 

Learning Outcomes:

• Understanding the newly issued standards, along with IASB projects, and how they will impact on the financial statements
• Understanding the practical implementation of the more complex standards
• Understanding the disclosure and accounting requirements in financial reporting of a group of companies
• Understanding practical implications of using IFRS in specific industries

Modules:

• IFRS Overview and Specific Industries
• Technical Standards
• Financial Instruments
• Group Reporting
• New Standards and Practical Implications