The digital learning ecosystem An efficient management approach to capability development, delivering smarter teams, improved productivity and better business outcome for the managers.
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Training provider of the year: 2013, 14 and 15
Upstream learning simulator With more than 50,000 participants instructed in various disciplines, data driven OilSim runs real-world oil and gas business scenarios and technical challenges.Engaging. Educational. Enjoyable
Develop measurable skills and capabilities
This course will provide participants with an understanding of the information and data used in the preparation of the key financial reports of the company, namely the Profit & Loss (P&L) account, the balance sheet, and the cash flow statement. Participants will also gain an understanding of accounting topics unique to the upstream industry, as well as the preparation and control of an annual budget.
Specifically, this course will allow participants to learn accounting principles and how these are applied, as well as how to understand financial information and the use this information in the preparation of the P&L account, the balance sheet, and the cash flow statement. Participants will also learn to appreciate the difference between capital and operating expenditures, to understand accounting for exploration costs, depreciation, reserves, decommissioning, and impairment tests, and finally learn how to prepare an annual budget.
The P&L Account, Balance Sheet, and Cash Flow Statement
Participants will learn to understand generic financial concepts in terms of the main financial reports, the difference between profit and cash flow, and how to differentiate between capital expenditure and operating expenditure. Some common techniques and ratios used to measure a company’s financial performance will also be covered.Day 2
Accounting Policies and Preparation of an Annual Budget
Participants will build on the generic concepts learned in day one by understanding more about the application of these concepts in an Exploration and Production (E&P) company. Topics addressed will take the class through the accounting associated with acquiring a licence to the decommissioning of the asset at the end of field life.
Managers, supervisors, and other staff members who don’t have a financial background, but require an understanding of financial information to help them be aware of how the business is doing, as well as how the correct interpretation of financial data can help them make better decisions and give them the skills to help them manage their budgets more effectively.
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