PDP - ACCOUNTING, FINANCE AND COMMERCIAL

 

AFC-104 PETROLEUM PROJECT ACCOUNTING

This is achieved through an examination of (a) accounting compliance and standards, policies, and practices in the petroleum industry, and (b) the accounting and financial management implications of exploring for and producing oil & gas. An understanding of project accounting also allows a company to trace its financial disbursements and to plan businesses accordingly.

 

Topics:

1. Financial accounting terms and definitions

2. The language of petroleum business

3. Project accounting rules, compliances, standards, and policies

4. Construct the basic accounting statements for project finance

5. Classify revenues, assets, liabilities, and equity

6. Compare different project accounting elements

7. Joint venture accounting (JVA) and reporting