The course introduces crucial theory but primarily focuses on real life problems and applications to build practical understanding and use of this essential subject key areas covered in this course include:

• Reading, interpreting and using financial statements (internal and external)
• Improving business cases and decision making
• Costing and presenting plans and proposals
• Working more effectively with budgets
• Delivering improved financial performance, profit & cash flow
• The relevance & importance of accounting & finance to the success of your business
• The unique features of oil & gas accounting that impact on reporting & decision making
• Budgeting and costing techniques & how to apply them
• The techniques available to determine the most profitable & worthwhile investments for your business

Effective ways to control the financial risks of your business

Finance Professionals, Finance Managers, Chief Accountants, Senior Accountants, Accountants, Corporate Accountants, Accounting & Budgeting Personnel, Corporate Controllers, Financial Controllers, Financial Analysts, Treasury Professionals, Accounting Managers, Accounting Professionals, Budgeting Personnel, Financial Executives, Financial Managers, Financial Controllers, Treasury Officers, Auditors, Joint Venture Accountants, Bankers, Investment Bankers, Banking Professionals, Corporate Business Professionals, Professionals in the field of finance and accounting, managers, supervisors, and finance professionals who desire to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently, Financial Planners and Cost Analysts, External, Financial and Internal Auditors, Government Regulators and Auditors, Financial and Investment Analysts, Finance Professionals responsible for financial accounting, treasury, budget preparation and management reporting, Process and Non-technical Professionals who require a more in-depth understanding of financial accounting reporting, project management and forecasting techniques, Finance Staff in General Accounting, Payables, Receivables, Inventory, Fixed Assets, etc., Line/Unit Heads with direct planning and budgeting responsibility, Key Personnel in the oil and gas industry, Managers involved in making CAPEX decisions, Bankers and Professionals who work in Energy Lending

An Introduction to Financial Accounts

• Accounting terminology
• Income statement, balance sheet,  cash flow
• Accrual basis accounting
• Published report and accounts
• Oil & gas accounting issues
• The cash conversion cycle
• Working capital management

The Key Elements of Oil and Gas Reporting

• The major differences between US GAAP and IFRS reporting
• The treatment of exploration and evaluation costs – successful efforts or full cost
• Recognition and valuation of oil and gas assets – tangible and intangible
• Revenue recognition – upstream, midstream and downstream
• Financial analysis techniques – common sizing and ratio analysis
• Analysis and interpretation of oil and gas company reports

Financial Analysis and Costing

• Profitability and gearing ratios
• Financial & non-financial analysis
• The balance scorecard
• Analysis of oil & gas companies
• Understanding and working with costs in oil & gas
• Plan for cost reduction and profit improvement
• Fixed and variable costs

Budgeting, Forecasting and Investment Appraisal

• The budgeting process – the role of budgeting
• Building a budget and managing a budget
• Better forecasts and forecasting
• Variance analysis
• Capital budgeting
• Weighted average cost of capital
• Present value & internal rate of return

Cost of Capital and Investment Appraisal

• Why you need to know your cost of capital
• The cost of equity, cost of debt, and weighted average cost of capital (WACC)
• Identifying new investment opportunities for your oil and gas business
• Basic investment appraisal techniques – ARR and Payback
• Discounted investment appraisal techniques, NPV and IRR
• Capital rationing decisions using the profitability index and Excel solver

Financial Risk Management

• The main types of risk and principles for risk management
• New investment risk in oil and gas operations
• Financing risk
• Interest rate risk
• Foreign currency risk
• The corporate governance requirements for effective risk management

CDGA attendance certificate will be issued to all attendees completing minimum of 75% of the total course duration.