This highly interactive 5-day workshop is aimed at those who wish to take their E&P accounting skills to a more advanced level than our introductory course, E&P Accounting - Level 1, and our intermediate course, E&P Accounting - Level 2. It will help equip you for more demanding analytical roles within your organisation.

At the end of this workshop you will be able to: ·

• carry out and manage the day to day financial accounting activities associated with participation in E&P joint ventures
• prepare, analyse and present information for effective financial reporting
• understand the impact of a comprehensive range of activities on the financial statements of an upstream oil and gas company
• apply Generally Accepted Accounting Principles (GAAP) in financial reporting

This is an advanced level programme designed for: ·

• those who have already attended E&P Accounting - Level 1 and E&P Accounting - Level 2, or
• those who can demonstrate, by a combination of relevant experience and previous study, sufficient prior knowledge to benefit from attending this workshop and contribute to it.

Related courses from which you will also benefit include Auditing in the Exploration & Production Industry and Petroleum Project Economics & Risk Management.

Learning centres around highly realistic E&P company scenarios. A computer-based simulation is used to plan, record and report the progress of your company through several years of international E&P activities.

Teams of 3-4 people participate in the financial management of these activities, including budgeting, operator and non-operator accounting, recording of transactions, updating of financial statements and analysis of results.

In advance of each scenario, training sessions review and update subject knowledge and skills required for the forthcoming accounting tasks. During the team sessions, the training consultant provides guidance and support.

The integrated PC-based scenario approach will enable you to follow the impact of each activity from initiation through to final results and analysis of company performance.

You will need to bring with you to the course your own laptop PC with MS Excel pre-installed. Prior knowledge of spreadsheet techniques is assumed. Delegates will be encouraged to work in teams.

The scenarios on which the workshop simulation is based will evolve as follows:

• Your company decides to participate in a new exploration joint venture. You will review budgets, enter billings into the accounting system and prepare financial statements.

• The joint venture proceeds to develop a commercial discovery. Your company also acquires an interest in a producing field. You will account for development costs, sales revenues, DD&A, a decommissioning provision, and production under the terms of a tax-based fiscal arrangement.

• Your company takes on the role of operator of a new venture. You will prepare cash calls and billings, and maintain operator accounting records.

• Your company decides to change from the full cost to the successful efforts method. You will prepare financial statements reflecting the change in accounting policy.

• You will account for your company's participation in a new venture under the terms of a Production Sharing Contract.

• Following an earlier unitisation and a move to multi-venture operations you will account for a redetermination and shared-cost allocations.

• A falling oil price and revised estimates of reserves indicate impairment of an asset. You will perform a test and account for the result.

• Your company adjusts its portfolio of assets. You will account for a farm-out arrangement and an asset swap.

• Your company's Chief Executive is due to meet with investment analysts. You will prepare for him a briefing on company performance and financial status.

Click the button to find out the duration, dates, cost and locations for the course.