IFRS Joint Venture Accounting for the Oil and Gas Sector
Details
Outline
- Understand the nature and structure of joint ventures in the oil and gas industry
- Learn the external financial reporting requirements for joint ventures
- Comprehend the mechanisms of financing and reporting the operations of joint ventures
- Appreciate the issues regarding intra-partner relationships, including cost allocation and audits
- Characteristic features of the oil and gas industry
o Scale of operations
o Nature and timing of cash flows
o Risks
o Determination of success
- The nature of joint ventures and reasons why oil and gas companies participate in them
- Types of joint ventures across the globe
- Typical provisions of joint venture agreements
- IFRS 11 Joint Arrangements and IAS 28 Investments in Associates and Joint Ventures
- Relationship between operator and non-operator participants
- The financing of joint ventures – billing statements and cash flow reporting
- Reporting of expenditures
- Budgets and approvals
- Cost allocation methods and issues
- Revenue recognition relating to over and under-lifting
- Unitisations and adjustment of interests
- Audits
TRAINING METHODOLOGY
The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.
Speaker/s
Special Offer
Schedules
| Tue, Wed, Thu, Fri | 10:00 AM — 04:00 PM |
| Tue, Wed, Thu, Fri | 10:00 AM — 04:00 PM |
| No. of Days: | 4 |
Alpha Partners is a reputable firm of Training and Management Consultants with many years of corporate training experience in Finance, Accounting, Auditing, Banking, Management, Information Technology, Oil and Gas Sector, Security, Engineering, Public Relations, Secretarial Studies, Leadership, Marketing and other fields of human endeavour.
We are one of the leading players in the profession. Our firm, a multi-disciplinary one with highly talented, experienced and dedicated partners and staff who have experiences in different facets of working life was established in 1996 and has branches in Lagos, Enugu and Awka.
We offer a wide range of professional services, which covers audits, accounting, finance, taxation, ICT, security, engineering, insurance, human resources management, secretarial and consultancy services in all ramifications.
Our numerous clients attest to the high quality services we offer which contribute in no small measure in ensuring sound and efficient management of their resources.
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