Few industries combine the financial exposure of oil production: exploration can consume vast capital with no guarantee of a viable find, while a successful well can recover its full investment within a short period. This capital intensity, long payback horizon, and reliance on concession, leasing and production-sharing contracts is what makes the accounting and financial reporting practices of oil companies distinctive. This Financial Reporting for the Oil Industry Training Course by the Arab British Fellowship Training Academy explores how these technical and legal realities are reflected in a company's financial statements.

The course opens with a grounding in Generally Accepted Accounting Principles (GAAP) before moving into the specialised elements of financial reporting unique to the oil sector, illustrated with real examples of financial disclosure from oil companies.

Who Should Attend:

• Senior officials, control and budget managers.
• Staff working in accounting and finance.
• Administrative staff responsible for achieving the institution's aims.

Course Objectives:

• Understand accounting principles and financial reports, including the basics of preparing financial reports for the oil industry.
• Review practical examples of financial disclosure by companies in the oil sector.
• Recognise the importance of integrating financial reports with responsibilities and internal controls.

Module 1: Accounting and Economic Foundations

• Introduction to accounting.
• Economic facts for business.

Module 2: Reading and Building Financial Statements

• Financial reports and basic financial statements.
• Mastering financial statements.

Module 3: Control, Budgeting and Reporting for Partnerships

• Internal controlling and budgeting.
• Financial reports for General Partnerships.

Course Format:

• In-house training.
• One-to-one training.
• Group training.
• Practical training.

Note:

• We can deliver this course at the time and location that suits you.
• This course is delivered to high standards for distinguished individuals. For more information, contact the Arab British Fellowship Training Academy team.