IFRS specific for oil and Gas industry professional to get more knowledge of International Reporting framework on their respective fields, which help to develop their careers in more progressive ways.
Learning Objectives
- To provide participants with a thorough understanding of IFRS for Oil & Gas industry
- To explain the structure and contextual framework of IFRS for Oil & Gas industry
- To apply the relevant IFRS backed up with practical examples
Who Can Do?
- Employees on managerial level
- Finance managers
- Operations managers
- Facilities managers
- Chief Financial Officer
- Compliance managers
- Senior managers
- Full time/ Part time Student
What Is IFRS- Oil & Gas Industry Training Outline?
- IFRS 6 Exploration for and Evaluation of Mineral Resources
- Cost elements of exploration and evaluation assets
- Initial and subsequent measurement of exploration and evaluation assets
- Changes in accounting policies
- Classification of assets as property, plant and equipment vs. intangible
- Disclosure requirements
- Transitional provisions
- IAS 16 Property, Plant and Equipment
- Provisions for dismantling and restoration costs
- IAS 36 Impairment of Assets
- IAS 38 Intangible Assets
- Depreciation and amortization rules
- Update on the IASB’s project on extractive activities
- Overview of US/Canadian GAAP guidance for extractive industries
- Hedge accounting
- Practical examples and illustrative financial statements
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