production sharing contract budgeting reporting audit for oil gas industry training online

30 Apr 2020 Event by Admin Solid Corporation
PRODUCTION SHARING CONTRACT BUDGETING, REPORTING, & AUDIT FOR OIL & GAS INDUSTRY [TRAINING O

SCHEDULE      : 15-17 JUNI 2020

PLACE             : YOGYAKARTA

DURATION       : 3 DAYS

 

 

DESCRIPTION

 

This course is designed to give participant understanding and better pictures as to how the PSC (Production Sharing Contract) for Petroleum (oil and gas) industry applied in Indonesia. A budgeting process and control is more than a row of numbers. It is a tool for establishing priorities of action, determining program content, and exercising control of operations. This workshop focuses on budgeting process and control from a company and departmental viewpoint, operating as a cost center, and using the information for budgetary decision making and establishing the a control.

 

COURSE OBJECTIVES

 

  1. How To Construct an oil and gas budget, process, and control to maintain the best performance of the company.
  2. How to develop capital budgets and allocate capital.
  3. Learn about financing alternatives available to oil and gas companies
  4. How to develop the company`s cost of capital
  5. What are the various financial issues associated with oil and gas project development, execution, and operations.

COURSE CONTENT

 

PRODUCTION SHARING CONTRACT AN UPDATE

  1. Overview of Business Process of Oil and Gas Industry
  2. PSC Term and Conditions: Current and prospect
  3. Introduction to PSC and Cost Recovery Mechanism

BUDGET IN OIL AND GAS COMPANY

  1. Capital Expenditures (Exploratory wells, Development wells, Development Facilities, Facilities, Warehouse stock)
  2. Operating Expenditures (Department Cost Centers, Special well repairs, Abandonment and Site Restoration, Insurance.

OIL AND GAS ACCOUNTING AND FINANCIAL REPORTING OPERATIONS

  1. Oil and Gas (E&P) and Cost Classification, Ascertainment, & Treatment of Costs
  2. Accounting Principles (Including Accounting Methods) & Financial Policies in Relation to O&G Upstream Operations
  3. E&P Operations Funding Arrangements and Accounting Implications
  4. Oil and Gas Revenue Accounting
  5. Work Program and Budgeting (WP&B)
  6. Authorization for Expenditure (AFE)
  7. Accounting Reports
  8. Accounting Implications of Carried Interests and Reporting Processes

BUDGETARY CONTROL

  1. Financial Planing & Budgets
  2. Operated vc Non-Operated Budgets
  3. Budgets Analysis
  4. Budgetary Control (Including Variance Analysis, Project costreporting & control)
  5. Budgeting is key for annual report/financial statement
  6. Lifecycle budgeting process
  7. Budgeting expenses (zero based, activity based, fund, purchasing)
  8. Budgeting and cost technique ( forecasting method, impasse analysis, trend analysis)

AUDITING

  1. Legal Basis
  2. Steps of General Audit and Mining Audit
  3. Assertion of Financial Report
  4. Worksheet .

 

INSTRUCTOR

Solid Corporat Trainer (contact us)

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