IFRS for the Oil & Gas Industry


This course has been developed for the preparers and users of financial statements within oil and gas companies. The course focuses on the application of IFRS to the upstream oil and gas industry. It looks at the core IFRS standards, illustrating their application by reference to oil and gas case studies and looks at those standards which specifically apply to oil and gas activities and how they are being implemented by the sector. 

By Attending This Course You Will:

• Grasp the core IFRS standards and apply them to the oil and gas industry~
• Review proposed and forthcoming IFRS developments
• Examine the key issues in converting from national GAAP to IFRS

Who Should Attend:

Chief accountants, Financial accountants, Accounting technicians, Auditors, Financial analysts

Course Outline:

1. Overview of Oil & Gas Accounting Issues

2. Fundamentals

3. Property, Plant & Equipment

4. Intangible Assets, Exploration & Evaluation (IAS 38 & IFRS 6) & Reserves

5. Acquisition Accounting & Purchase Price Allocation (IFRS 3 revised)

6. Oil & Gas Reserves

7. Impairment of Assets (IAS 36 & IFRS 6)

8. Revenue Recognition & Inventory (IAS 18 & IAS 2)

10. Provisions (IAS 37 & IFRIC 1)

11. Leases & Similar Transactions

12. Financial Instruments (IAS 32, IAS 39 & IFRS 7) & Foreign Currency (IAS 21)

13. Financial Statement Presentation & Disclosures

For more information please email nkiflay@thecwcgroup.com or call +44 207 978 0007.