12 November 2013 - 14 November 2013
Manila, Phillippines

In-House Training

To find out more about how you can save more through in-house training courses tailored specifically to your organization’s needs and at your preferred time and location, please email us at enquiry@equip-global.com . Our relevant In-house training specialist will get in touch with you shortly.

Your Expert Trainer

Your expert trainer is an accounting and finance professional with over thirty years’ experience. For the past twenty two years he has specialised in consulting and the delivery of in-house and pub..

About Your Expert Trainer

The International Financial Reporting Standards (IFRS) will deliver significant accounting changes to companies in the oil & gas industry.

Numerous companies are looking to adopt and merge the IFRS in their companies to comply with their own local accounting standards. It has become critical to understand the impact of various provisions of IFRS on accounting reports of companies in the oil and gas sector. There are few other industries which are as complex, competitive, and entwined with the economy as the oil and gas.

We hear and understand your needs and concerns.

Through extensive research with the oil & gas industry, we have specifically designed this four-day training course to take you through various policy and implementation issues involving typical transactions in oil and gas sector and how IFRS affects them. This course will cover the most challenging standards to understand and implement including IFRS 6 exploration and expenditure, units of production methods, impairment of oil and gas properties and revenue recognition.. It also includes the impact of latest IFRS releases IFRS 10, 11, 12, and 13, an update on progress with the new revenue recognition, leasing and financial instruments standards and the discussion paper on extractive industries.

You will have the chance to assess the case studies, financial reports and financial disclosures from real world oil & gas companies, practical applications of IFRS will be explained to enhance and reinforce learning.

By attending this training course, you will gain the following

Understand and know how to apply a series of major financial accounting principles and standards that are particularly relevant to oil and gas firms' activities
Gain insights into accounting issues and potential problems faced from implementing IFRS
Master essential knowledge of standards and frameworks in the IFRS relevant to oil & gas industry
Understand the new standards on joint arrangements, consolidated financial statements and disclosure of interests in other entities in the oil and gas sector.
Master the Accounting Fundamentals that improve company decision making regarding operations
Improve the quality of operational accounting and financial reporting in your organization
Design and develop auditing plans in compliance with IFRS

Key Topics Covered

Overview of IFRS And detailed understanding of IFRS standards that are predominant in the Oil & Gas Industry
Overview of US GAAP and its significance for the Oil & Gas Industry
Understanding US GAAP standards for E&P Companies dealing with disclosure requirements
Fundamental Concepts of Oil and Gas Accounting Methods
Accounting for Acquisition Costs
Accounting for Exploration Costs
Accounting for Development Costs
Accounting for Production Costs
Significant Accounting Issues pertaining to E&P companies
Depreciation, depletion and amortization
Dismantlement, restoration and abandonment
Capitalization of interest costs
Asset impairment under both successful efforts and full cost accounting methods
Carried interests and accounting by the carrying party and the carried party
Classification of assets as property, plant & equipment
Hedge Accounting Overview IAS 39 Financial Instruments
Revenue Recognition for E&P companies
Joint Ventures and related Accounting Issues
Production Sharing Agreements
Joint Interest Billing
Disclosures required IFRS 7
SEC Disclosure requirements for E&P Companies including Oil & Gas Modernization Act
Review Disclosures by major E&P entities
Update on the IASB’s project for extractive industries
IFRS and GAAP Convergence
Future IFRS and GAAP directions

This Training Course is Specially Designed For

Accounting Executive/Managers
Financial Reporting Managers
Financial Executives / Managers / Controllers/Directors
Budgeting Officers/Executives/Managers
Cost Controllers, Executive & Managers
Auditors/Auditing Managers
Treasurers/Managers
Taxation & Reporting Executives/Managers
JV/Production Sharing Executives/Managers/Advisors
Business/Investment Analysts & Managers
Asset Officers/Mangers
Economists
Regulatory Compliance Officers
Business Development Executives & Managers
Commercial Analysts, Executives & Managers

More Details

If you like more information about the training course agenda and the expert trainer details, please email enquiry@equip-global.com

Please indicate subject title as “IFRS for Oil & Gas”

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PIC – 40% cash back when you register for an Equip Global Conference or Training Course

The objectives of the PIC Scheme are the same as those of Equip Global. Both support investment in innovation, productivity and continuous training.

If you are a registered business in Singapore, you can enjoy huge huge tax savings in the form of cash payouts and/or tax deductions when you invest in training of employees. Your attendance at any Equip Global conference or training course is eligible for PIC credits, either as a 40% cash refund or 400% tax deduction. We will provide you with full supporting documentation after the event and assist you in getting the claim completed.

Continuous training and upgrading of your employees is key to the success of your organization. What’s more, boost your tax savings and claim 40% of your registration fee by attending an Equip Global conference or training course today. To do so, follow this simple 5 minute process:

Select, register and pay for your conference/training course of your choice
Complete the PIC form which you can download here: http://www.iras.gov.sg/irasHome/uploadedFiles/Quick_Links/Tax_forms/Business_and_employers/Cash%20Payout%20Application%20Form_B2011_final.xls
Attend the event, learn and network with industry peers
File your receipt (which we will email you), record of attendance (which we will provide you at the event) and the completed PIC form with your accounts department which they will submit to IRAS to process the claim. If you do not have an accounts department or need help with the PIC claim, our staff will be very happy to assist.

Take advantage of the PIC scheme to upgrade your skills, gain the latest information in your field of work, and get access to the knowledge that can help drive your organizations’ performance and productivity.

For more information visit http://www.iras.gov.sg/irashome/picredit.aspx. Terms and conditions apply.