IFRS for Oil and Gas

Course Overview

With the advent of IFRS, it has become critical to understand the impact of various provisions of IFRS on accounting reports of companies in the oil and gas sector. There are few other industries which are as complex, competitive, and entwined with the economy as the oil and gas. This course will take you through, in detail, various policy and implementation issues involving typical transactions in oil and gas sector and how IFRS affects them. Much beyond a generic course on IFRS, this sector specific course introduces you to issues which are typical to the sector and are not covered in a generic course. The scope of the course is wide – encompassing issues involving fixed assets, leases, inventories, financial instruments, etc. It also includes the impact of latest IFRS releases IFRS 10, 11, 12, and 13 in addition to discussion paper of extractive industries.

What will I learn?

• Understand the impact of IFRS on various items of financial statements by offering detailed practical examples relevant to the oil and gas Industry
• Assess the impact of new IFRS 9, 10, 11, 12 , and 13 and gain thorough hands-on through transition case studies
• Identify the accounting policies best suited to your company
• Review disclosure requirements with practical insight into real life disclosures

Who is this course for?

This course will be highly beneficial for those working as company secretaries and legal heads that have had minimal formal training in labour law and wish to consolidate their experience in the region. In addition it would also benefit in-house counsel and lawyers who have recently been transferred to this region.

How will I benefit from taking this course?

1. A unique opportunity to be exposed to a rare combination of understanding and practice wherein the knowledge you acquire will find immediate application in your work place
2. Includes a special section on issues involving first time transition and selection of accounting policies and disclosures