Oil and Gas Engineering Training Courses

Oil & Gas Accounting & Performance Measurement Course


This oil and gas accounting program develops an essential understanding of Oil and gas Exploration and production (E&P) accounting, reporting, and performance measurement issues and practices.

The performance measurement in management accounting course enhances your ability to prepare, use, and critically evaluate information on E&P activities, integrating specialist industry knowledge and relevant analytical skills with performance measures in management accounting.

The oil and gas accounting program is specifically tailored for individuals with a foundational knowledge of accounting who are keen to gain a deeper insight into the accounting and financial reporting policies and practices prevalent in the upstream oil and gas industry.

Topics for this oil and gas accounting management course cover successful efforts and complete cost accounting methods, assets classification as tangible or intangible, unit of production method for depreciation, impairment testing of oil and gas assets, and accounting procedures for the eventual removal and restoration of oil and gas facilities.

Enhancing Performance Measurement and Accountability in Oil & Gas Accounting

This comprehensive oil and gas accounting management course emphasizes performance measures, accounting and accountability, and performance measurement.

By engaging with these concepts, the oil and gas accounting management course participants can expect to understand how performance measurement in management accounting plays a pivotal role in strategic decision-making and operational efficiency within the oil and gas sector.

Targeted Groups

  • Corporate accountants, financial controllers, treasury officers, management accountants.
  • Finance staff in general accounting, payables, receivables, inventory, and fixed assets.
  • Joint venture accountants and auditors.
  • External, financial, and internal auditors.
  • Government regulators and auditors.
  • Financial and investment analysts.

Course Objectives

By the end of this oil and gas accounting management course, participants will be able to:

  • Develop an understanding of companies' accounting standards, policies, and practices in the Oil & Gas Exploration & Production industry.
  • Appreciate the financial implications of Production Sharing Contracts and other agreements between host governments and international companies.
  • Examine issues and guidelines in accounting for Joint Ventures.
  • Identify and apply international and national accounting standards pertinent to the E&P industry.
  • Enhance the relevance and reliability of financial reports to meet users' needs more effectively.
  • Utilize publicly available information to benchmark companies' business performance in the E&P industry.

Targeted Competencies

  • Understanding current and future challenges within the industry.
  • Applying advanced strategic decision-making techniques in a challenging environment.
  • Evaluating financing strategies for optimal capital structure and capital investment.
  • Developing strategies to mitigate financial risk.
  • Performing analyses on the performance of leading international Oil and gas companies.

Course Content

Unit 1: Standards of Financial Reporting in the O&G Industry to Stakeholders

  • Investor reporting.
  • New investors.
  • Taxation and royalties.
  • Stock market intermediaries.

Unit 2: The Convergence of GAAP and IFRS

  • Impacts on reporting.
  • Migration paths.
  • PSC reporting consequences.
  • Share pricing implications for O&G companies.

Unit 3: Capitalization and Cash Flows in The Oil & Gas Industry - Sourcing Capital

  • Capitalization techniques for E&P projects.
  • Implications of IFRS on capital.
  • Capital maintenance strategies.
  • Diverse capital sources.

Unit 4: Oil & Gas Value Chain and Accounting Issues

  • E&P exploration and evaluation, borrowing costs, and development expenditures.
  • P&S reserves and resources classification.
  • Product valuation, asset impairment, and disclosure requirements.
  • Royalty and income tax accounting.
  • Emission trading scheme considerations.

Unit 5: Company Accounts, PSAs, and Joint Ventures - Accounting for Multiple Efforts

  • Joint ventures accounting—GAAP & IFRS comparisons.
  • Business combination accounting.
  • Currency translation issues.
  • Accounting treatment diversity.

Unit 6: Analysis of Financial Statements

  • Analytical tools for financial review.
  • Total cost.
  • Successful efforts approach.
  • Decommissioning obligation accounting.

Unit 7: Auditors and Reporting to Investors in The Oil and Gas Industry - External Audit Investigations and Reports

  • Auditor's opinion.
  • Ensuring accurate and fair representation.
  • "Sarbanes-Oxley" Act compliance.
  • Internal audit importance.

Unit 8: Ethical Issues in Accounting

  • Corporate governance adherence.
  • Regulatory compliance.
  • Investor confidence and its impact on share prices.
  • Addressing creative accounting to ensure investor protection.

Unit 9: Investment Finance in The Oil and Gas Industry - Processes and Lead Times

  • External finance sourcing.
  • Financial market mechanisms.
  • Investment decision-making criteria.
  • Financial intermediary's roles in the market.

Unit 10: Shell and BP – Performance and Share Prices

  • Financial statement analysis of shell oil and BP.
  • "DuPont" hierarchy of ratios application.
  • Live insights from the London Stock Exchange.
  • Factors influencing accounting performance measures and valuation.

Certification and Professional Development in Oil & Gas Accounting

Participants looking to validate their knowledge can opt for oil and gas accounting certification.

This oil and gas accounting management course demonstrates a commitment to professional development and mastery of specialized oil and gas accounting management techniques—further bolstering the credentials of oil and gas accountants and enhancing their expertise in oil and gas accounting training courses and programs.

Oil and Gas Engineering Training Courses
Oil & Gas Accounting & Performance Measurement Course (EO)


Mercury dynamic schedule is constantly reviewed and updated to ensure that every category is being addressed at least once a month, if not once every week. Please check the training courses listed below and if you do not find the subject you are interested in, email us or give us a call and we will do our best to assist.