An intensive professional development training course on
Fundamentals of
Joint Venture (JV) Accounting
in Oil and Gas Industry
Enhance Your Skills & Techniques in JV Accounting
We currently have no scheduled sessions for this course. If you are interested in running this course, please contact our Training Department at info@aztechtraining.com
Brochure
Why Choose this Training Course?
As the oil & gas industry can be high risk, high reward, and the market is volatile, it is common for different parties to make investments in joint ventures. The ability for oil and gas professionals to effectively interact with these challenges of a JV is an important skill. It requires a clear understanding of the nature of JV agreements the accounting implications of each, to improve the capabilities to manage their companies successfully.
This AZTech Fundamentals of Joint Venture Accounting in Oil & Gas Industry training course is designed to equip participants with the knowledge required to establish well-structured methodology and the fundamental of accounting of oil industry in joint venture.
This online training course will feature:
- Different types of JVs in oil and gas industry
- Different accounting methods for joint ventures
- The major keys of financial management of JV in Oil & Gas industry
- The tools & techniques required to control the costs of JV for your company
- The best practices of accounting issues related specifically to joint interests
What are the Goals?
By the end of this AZTech online training course, participants will be able to:
- Apply the structure of JVs in oil and gas industry
- Develop the knowledge of different accounting method for JVs
- Discover the tools and techniques required to maximise the benefits of JVs
- Learn the accounting treatments of costs for IFRS reporting
- Gain required skills and strategies to deliver desired commercial outcomes
Who is this Training Course for?
This training course is designed to develop the knowledge and skills of accounting in JVs and providing details of the best policies and procedures of different types of JVs in oil & gas industry It is suitable for management of major companies in oil and gas sector.
This AZTech training course is suitable to a wide range of professionals but will greatly benefit:
- Managers & Directors of Oil & Gas Companies
- JV Accountants and Auditors
- Financial and Investment Analysts
- Financial Reporting & Treasurers / Managers
- Cost Controllers, Executive & Managers
- Government Regulators and Auditors
- Project Managers & Team Members
- Budgeting Officers / Executives / Managers
- JV Executives & Advisors
- Business / Investment Analysts & Managers
- Regulatory Compliance Officers
How will this Training Course be Presented?
This AZTech online training course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes realistic oil industry-based exercises, group discussions and case studies to facilitate the key learning points and to provide participants with the knowledge gained in a practical and enjoyable format. This training course will be taught online using a suitable e-learning platform.
The Course Content
Day One: Overview of JVs in Oil & Gas Industry
- The features of the Oil and Gas Industry
- Overview of oil and gas accounting
- Impact of regulatory and volatility environment
- IFRS principles and US GAAP
- The main reasons for stepping into a JV
Day Two: Joint Venture (JV) Structures
- Definition and characteristics of JV
- Advantages & disadvantages of JV
- Types of JVs agreements
- The role of JV in oil & gas industry
- joint venture and partnership distinguished
Day Three: Accounting Methodologies for Joint Venture (JV)
- Methods of accounting for JV
- Accounting procedures of Joint operating agreement
- Borrowing costs & development expenditures
- Cost allocation methods
- Cash calls methodologies
- Tax treatment accounting
Day Four: Joint Venture (JV) Accounting Solution
- Revenue recognition Issues
- Control and de-recognition of assets
- Cost control and management systems
- Inventory valuation issues
- Budgeting and authorizations for expenditure
Day Five: Major Financial Accounting & Standards in JVs
- IFRS for JVS in Oil & Gas industry
- Reserves & resources
- Joint interest billing
- Reporting of expenditures
- Financial instruments and embedded derivatives
The Certificate
- An AZTech e-Certificate will be provided to delegates who attend and complete the online training course
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