📑 IFRS for Oil and Gas Companies

📘 Course Description

This course is designed to equip accounting, finance, and audit professionals in the oil & gas sector with a comprehensive understanding of International Financial Reporting Standards (IFRS) and their practical application. Participants will master the treatment of exploration, development, production, decommissioning, joint arrangements, revenue recognition, reserves-based accounting, and financial disclosures specific to upstream, midstream, and downstream oil & gas operations.

🎯 Learning Objectives

✅ Apply IFRS standards relevant to oil & gas activities
✅ Understand full cost vs. successful efforts accounting methods
✅ Account for exploration & evaluation assets under IFRS 6
✅ Recognize revenue under IFRS 15 in production-sharing contracts (PSCs)
✅ Measure decommissioning obligations under IAS 37
✅ Prepare transparent oil & gas financial statements

👥 Who Should Attend

• Oil & gas accountants & finance professionals

• CFOs & financial controllers

• External & internal auditors

• Financial analysts covering energy sectors

• Joint venture accountants

• Regulators and consultants

🗂️ Training Format

✅ Interactive lectures with IFRS case studies
✅ Practical workshops on real-life oil & gas transactions
✅ Group discussions of complex scenarios
✅ Exercises on measurement & disclosures
✅ Q&A sessions with IFRS experts

📅 Day-by-Day Agenda with Time Breaks

📅 Day 1: IFRS Framework & Industry-Specific Challenges

📅 Day 2: Property, Plant & Equipment, Reserves & Decommissioning

📅 Day 3: Revenue Recognition & Joint Arrangements

📅 Day 4: Impairment, Leases & Financial Instruments

📅 Day 5: Disclosures, Tax, & Financial Reporting

📦 Materials Provided

✅ Detailed course manual & IFRS standards summary
✅ Case studies on PSCs, JVs, and impairment
✅ Practical Excel templates for calculations
✅ Disclosure checklists
✅ Certificate of Completion