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Upstream Petroleum Accounting

Curriculum

  • 5 Sections
  • 15 Lessons
  • 5 Days
Expand all sectionsCollapse all sections
  • Module 1: Introduction to the Upstream Oil & Gas Sector.
    3
    • 1.1
      Exploration and production lifecycle overview.
    • 1.2
      Capital-intensive nature of upstream operations.
    • 1.3
      Financial structure of upstream projects.
  • Module 2: Accounting Standards & Policies.
    3
    • 2.1
      IFRS and US GAAP application in upstream activities.
    • 2.2
      Accounting for exploration and evaluation assets.
    • 2.3
      Revenue recognition and depletion methods.
  • Module 3: Joint Venture & Cost Recovery Accounting.
    3
    • 3.1
      Joint operating agreements and accounting protocols.
    • 3.2
      Cost recovery mechanisms in PSC environments.
    • 3.3
      Cash calls, lifting arrangements, and partner reporting.
  • Module 4: Production Sharing Contracts & Taxation.
    3
    • 4.1
      Key components of PSCs and royalty-based systems.
    • 4.2
      Profit oil vs. cost oil accounting.
    • 4.3
      Fiscal regimes and their financial implications.
  • Module 5: Financial Reporting, Audits & Risk Management.
    3
    • 5.1
      Internal controls in upstream finance.
    • 5.2
      Preparing financial statements and disclosures.
    • 5.3
      Handling audits and mitigating compliance risk.
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