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IFRS for Oil and Gas Entities

oil and gas
₦270,000.00
Duration 4 days 100% positive reviews 0 student Assessments: Yes Language English Available on the app Unlimited access forever Skill level: All levels

The oil and gas industry operates in a complex financial landscape where compliance with International Financial Reporting Standards (IFRS) is critical. This comprehensive 4-day course, tailored for oil and gas entities, equips participants with the knowledge to navigate the unique challenges in financial reporting, ensuring alignment with global standards.

Whether you’re working in exploration, production, or servicing, this course offers insights into IFRS applications, specifically within the context of the oil and gas sector. This course is a strategic investment to safeguard your company’s financial integrity and regulatory compliance.

In the oil and gas sector, financial reporting goes beyond standard procedures, requiring specialized knowledge to handle issues such as asset impairment, decommissioning obligations, revenue recognition, and joint ventures.

The IFRS for Oil and Gas Entities course is designed to help professionals in this industry gain a comprehensive understanding of IFRS standards and their applications. By focusing on critical standards such as IFRS 6 (Exploration for and Evaluation of Mineral Resources), IAS 16 (Property, Plant, and Equipment), and IAS 36 (Impairment of Assets), this course ensures that participants are well-equipped to produce compliant and transparent financial reports.

The course also covers recent IFRS updates, highlighting how these changes affect oil and gas entities and includes real-world case studies to help participants apply IFRS principles to their organizations.

Course Objectives

By the end of this course, participants will:

  • Understand how key IFRS standards apply to oil and gas entities, including exploration, production, and servicing operations.
  • Master the treatment of exploration and evaluation assets under IFRS 6.
  • Learn how to account for decommissioning obligations in compliance with IAS 37.
  • Develop skills to assess impairment for oil and gas assets under IAS 36.
  • Navigate the complexities of joint arrangements, with a focus on IFRS 11.
  • Apply IFRS 15 for revenue recognition from oil and gas sales and contracts.
  • Explore updates to leasing standards under IFRS 16 and their implications for the oil and gas sector.
  • Gain insight into accounting for share-based payments, provisions, and contingencies within the oil and gas industry.

 

Personal Impact

  • Enhance your professional expertise in IFRS reporting, positioning yourself as a valuable asset in the oil and gas industry.
  • Gain confidence in producing clear, accurate, and compliant financial statements specific to your sector.
  • Improve your ability to handle complex accounting issues such as decommissioning, revenue recognition, and joint ventures.
  • Strengthen your capacity to manage financial risk and ensure transparency within your organization.
  • Build a deeper understanding of how IFRS updates and amendments impact oil and gas operations, keeping you at the forefront of industry developments.

 

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