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Financial Management of an International Oil & Gas Company

10 days GIP/FMC
Level
Proficiency
Audience
  • Upstream professionals who would like to understand the bases of financial analysis in the upstream oil and gas activities
Purpose
  • To deepen the knowledge of accounting in the oil industry and to introduce the tools of financial analysis and management
Learning Objectives
  • Upon completion of the course, participants will be able:
  • to appreciate the specificities of the international petroleum accounting standards
  • to define fundamentals of cost analysis and control
  • to analyze the financial situation of a company
  • to use the methodology and techniques of audit
Prerequisite
  • Basic knowledge in the areas of financial accounting, management accounting or corporate finance
Ways and means
  • Case studies and exercises

Module 1 - FUNDAMENTALS OF OIL AND GAS ACCOUNTING AND COSTS CONTROL METHODOLOGY
E&P FUNDAMENTALS 0.5 day
  • Overview
ACCOUNTING STANDARDS 2.5 days
  • Accounting principles
  • accounting system and principles, accounting plan, financial statements, valuation of assets
  • depreciation and provision, income statement, balance sheet, cash flow statement and cash flow table
  • International accounting standards: IFRS and FAS, US GAAP, SEC requirements
  • Specific cases: relinquishment and site restoration, deferred taxes, potential badwill of fixed assets, etc.
COST ANALYSIS AND COST CONTROL 2 days
  • Fundamentals of cost analysis:
  • direct and indirect costs, fixed and variable costs, total cost, etc.
  • methodology of cost allocation
  • Standard costs: purpose, identification and implementation
  • Budget and cost control:
  • cost accounting definition and implementation
  • labor costs, inventories, etc.
Module 2 - FUNDAMENTALS OF FINANCIAL MANAGEMENT AND AUDIT METHODOLOGY
EXTERNAL AND INTERNAL FINANCIAL AUDIT 2 days
  • Methodology and techniques of financial audit
  • Define an audit program
  • Evaluate the quality of internal control
  • Audit of the main business lines (inventories, procurement, fixed assets, payroll)
  • Conduct of the audit
  • Audit report
FINANCIAL MANAGEMENT AND FINANCIAL ANALYSIS 3 days
  • Fundamentals of financial analysis:
  • value creation and management, earnings and cash flow, free cash flow
  • working capital, capital expenditures, return on assets, cost of capital
  • Short term financial management: cash and cash equivalents, short term debts, cash management
  • Financial management:
  • long term financial resources, risk and return
  • financial securities: bonds and other debt, shares, other tools of corporate financing
  • Project financing:
  • definition, pros and cons, criteria of choice
  • examples of success and analysis of failures, debt restructuring
2016 course calendar
Language Dates Location Tuition Register
Mar 14 - 25 Rueil €6,770 Online By email
Sep 12 - 23 Rueil €6,770 Online By email

2017 course calendar
Language Dates Location Tuition Register
Mar 20 - 31 Rueil €6,970 Online
Sep 11 - 22 Rueil €6,970 Online