Oil & Gas and
Petrochemical Accounting &
Performance Measurement

INTRODUCTION

This GLOMACS Oil & Gas and Petrochemical Accounting & Performance Measurement training course is designed to develop the essential skills necessary to prepare and evaluate Oil & Gas and Petrochemical Accounting and Performance Measures. It focuses on the risks currently facing the sector including oil price volatility and changing patterns of demand.

It focuses on the latest techniques to evaluate Financial; Operational & Social Performance as well as relevant International Financial Reporting Standards (IFRS) relevant for the preparation of Oil & Gas accounts. Delegates will therefore be able to prepare financial statements in line with IFRS and make strategic decisions to improve financial performance of their organization. 

This GLOMACS training course will highlight:

• The major risks of the Oil & Gas and Petrochemical sectors and the tools to manage those risks
• How to Prepare Financial Statements in line with IFRS
• The latest international tools and techniques to develop skills of evaluation and performance measurement
• Issues facing multinational companies and those engaged in Joint Ventures or Production Sharing Agreements
• The lessons to be learnt from an evaluation of leading international Oil & Gas and Petrochemical companies

Objectives

At the end of this GLOMACS training course, you will learn to:

• Evaluate the Major Issues facing the Oil & Gas and Petrochemical sector
• Prepare Financial Statements in accordance with International Financial Reporting Standards (IFRS)
• Evaluate the Financial and Operational Performance of international Oil & Gas and Petrochemical companies
• Evaluate the importance and contribution of Oil & Gas and Petrochemicals to the National Governments and the Fiscal Budget
• Recommend Strategic Plans to Improve Performance

Training Methodology

This GLOMACS Oil & Gas and Petrochemical Accounting & Performance Measurement training course is highly interactive with delegates actively engaged in the discussion and evaluation of Oil & Gas case studies throughout the course. Delegates are taken through the latest techniques to evaluate performance and learning is further reinforced by examination of annual reports of international oil and gas companies.

At the end of each day, participants have an opportunity for a one-to-one session with the training course leader to develop their understanding further and will be provided with course notes and examples in both hard and soft copy.

Organisational Impact

This GLOMACS training course is of direct relevance to the Oil & Gas and Petrochemical sector and as a result the organizations will benefit greatly from their employees participation.

The organization will gain from:

• More effective finance support for front-line departments
• Greater relevance and reliability of financial and management information
• More strategic thinking and focus on performance
• More effective use of financial statements of the company, its co-venturers and its competitors
• The ability of Finance Managers and staff to work with less supervision
• Preparation of staff for increased responsibility

Personal Impact

This GLOMACS training course will of personal benefit to delegates by providing you with a:

• Better understanding of the context and importance of the work you do
• Greater awareness of industry practices, problems and solutions
• Increased understanding and assurance to complete tasks successfully
• Increased self-confidence and motivation at work
• Greater job satisfaction in providing quality support to management
• Greater ability to supervise, develop and motivate colleagues

WHO SHOULD ATTEND?

This GLOMACS Oil & Gas and Petrochemical Accounting & Performance Measurement training course is ideally suited to those who work in the Oil & Gas sector particularly those in an accounting and performance measurement role. 

This GLOMACS training course is suitable to a wide range of professionals but will greatly benefit:

• Corporate Accountants, Financial Controllers, Treasury Officers, Management Accountants
• Finance Staff in General Accounting, Payables, Receivables, Inventory, Fixed Assets, etc.
• Joint Venture Accountants and Auditors
• External, Financial and Internal Auditors
• Government Regulators and Auditors
• Financial and Investment Analysts