COURSE SP9: IFRS FOR OIL AND GAS INDUSTRY (3 DAYS)
This three-day seminar has been designed to provide participants with comprehensive understanding of IFRS 6 Requirements in exploration for and evaluation of mineral resources, so they can identify some of the accounting practices adopted to reflect unusual features unique to the industry. It is designed to specify the financial reporting for the exploration for and evaluation of mineral resources and provide participants with in-depth understanding of the process of selecting their new IFRS accounting policies and applying the guidance in IFRS 1 as they begin to prepare their first IFRS Financial Statements.
This course is for Accountants, Executives and Financial Managers in the Oil and Gas industry, who are often faced with alternative accounting practices; Investors and other users of oil and gas industry financial statements, but is also appropriate for a broader audience like Regulators, accounting bodies, standard-setting agencies and governments throughout the world interested in accounting and reporting practices and responsible for establishing financial reporting requirements. The course assumes a basic understanding of accounting. No previous IFRS knowledge is required.
Program Level - Intermediate
Delivery Method - Live Group
Understand and apply the accounting and disclosure requirements of IFRS 6 Exploration for and Evaluation of Mineral Resources
understand and apply major financial accounting principles and standards that are relevant to oil and gas Industry
Review the complex rules on evaluating assets for impairment
Review and analyze oil and gas company financial reports
Review the impact IASB's projects on the oil and gas industry accounting
Review and understand first time adoption provisions