This training course is designed to achieve learning outcomes that will allow delegates to improve the financial performance of their organisations by: improving their understanding of company financial information learning how to interpret and act on financial information developing effective decision making skills understanding aspects of financial management specific to the petroleum and petrochemical business providing a conceptual understanding of key E&P accounting topics such as: depreciation, reserves, decommissioning, asset impairment tests

This course is aimed at personnel at all levels and all disciplines who wish to develop a better understanding of finance and budgeting in order to become more effective in their jobs. Suggested attendees include:

• managers and supervisors who wish to improve their understanding of financial reports and the use of financial information for strategic and day-to-day decision making
  
• specialists in all disciplines who work with financial information
  
• all personnel with budget responsibility
  
• advisers who make recommendations based on financial data

Sources and Uses of Financial Information
• sources of financial data
• financial information systems
• uses of financial information for decision making

Understanding Financial Information
• understanding basic principles
• the profit & loss account
• the balance sheet
• the importance of working capital and how to control it
• the difference between capital expenditure and operating expenditure

Cash Flow
• understanding the difference between cash flow and profit
• how to control cash flow
• techniques for Measuring Financial Performance
• how to measure financial performance
• how to compare the performance of different petroleum companies

Budget Preparation and Control
• the role of financial planning
• how to prepare a budget
• how to control a budget

Effects of Taxation
• how tax affects profit and cash flow
• the impact of tax on decisions

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