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Management Accounting and Cost Accounting in the Downstream International Petroleum – Oil and Gas – Industry

Course

In Central London ()

£ 6,000 + VAT

Description

  • Type

    Intensive seminar

  • Level

    Intermediate

  • Class hours

    36h

  • Duration

    6 Days

Do you work in Management or Cost Accounting? Are you interested in developing your professional career in the controversial world of oil and gas?

This course in Management Accounting and Cost Accounting in the Downstream International Petroleum – Oil and Gas – Industry will teach you everything important about this field and about specialised accounting.

About this course

This course is designed for: management accountants, cost accountants, managers with direct financial responsibilities, executives, marketing managers, employees of oil and gas companies, financial planners, cost analysts, senior managers who supervise people with financial responsibilities, treasurers.

Degree or Work Experience

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Subjects

  • Management
  • Financial Accounting
  • Basic
  • Accounting
  • IT
  • Basic IT training
  • Basic IT
  • Oil and Gas
  • Gas
  • International
  • Accounting MBA
  • Planning
  • Systems
  • Industry
  • Management Accounting
  • Cost Accounting
  • IT Management
  • Petroleum
  • Accounting Concepts
  • Oil and Gas Production and Sales
  • The Concept of Peak Oil
  • Successful Efforts Accounting
  • Oil and Gas Accounting
  • Cost Behaviour
  • Job Costing
  • Key Success Factors
  • Planning and Control Systems
  • Decision Making Process in Planning and Control
  • Direct and Indirect Cost
  • Cost Flows
  • Cost Volume Profit Analysis
  • Breakeven Point
  • Journal Entries
  • Activity Based-Costing
  • Cost Hierarchies

Teachers and trainers (1)

To Be  Assigned

To Be Assigned

Consultant, HRODC Postgraduate Training Institute

Course programme

Course Contents, Concepts and Issues:

Three Main Accounting Areas
  • Management Accounting
  • Financial Accounting
  • Cost Accounting
Accounting Concepts
  • The Money Measurement Concept
  • The Entity Concept
  • The Going Concern Concept
  • The Dual Aspect Concept
  • The Accounting Period Concept
  • Materiality (Proportionality) Concept
  • The Conservatism Concept
  • Consistency Concept
  • The Realization Concept
  • The Matching Concept
  • The Cost Concept
Management Accounting
  • Strategy and Management Accounting
  • Management Accounting and Value
  • Illustration of Value Chain
  • Key Success Factors
  • Planning and Control Systems
  • A Five-Step Decision making Process in Planning and Control
  • Management Accounting Guidelines
  • A Typical Organisational Structure and the Management Accountant
Cost Terms and Purposes
  • Basic Cost Terminology
  • Direct and Indirect Cost
  • Cost Examples in the Downstream Petroleum Industry
  • Factors Affecting Direct/Indirect Cost Classification
  • Cost Behaviour
  • Other Cost Concepts
  • A Cost Caveat
  • Multiple Classifications of Costs
  • Different Types of Firms
  • Types of Manufacturing Inventories
  • Types of Product Cost
  • Accounting vs. Cost
  • Cost Flows
  • Cost Flows Visualized
  • Multiple - Step Income Statement
  • Cost of Goods Manufactured
  • Other Cost Considerations
  • Different Definitions of Costs for Different Applications
  • The Common Features of Cost Accounting and Cost Management
Cost-Volume-Profit (CVP) Analysis
  • A Five-Step Decision-Making Process in Planning and Control Revisited
  • Foundational Assumptions in CVP
  • Basic Formulae
  • CVP: Contribution Margin
  • Cost–Volume–Profit Equation
  • Breakeven Point
  • Breakeven Point, Extended: Profit Planning
  • CVP: Graphically
  • Profit Planning, Illustrated
  • CVP and Income Taxes
  • Sensitivity Analysis
  • Margin of Safety
  • Operating Leverage
  • Effects of Sales-Mix on CVP
  • Alternative Income Statement Formats
Job Costing
  • Costing Terminology
  • Costing Systems
  • Costing Systems Illustrated
  • Costing Approaches
  • Seven-Step Job Costing
  • Sample Job Cost Document
  • Sample Job Cost Source Documents
  • Job Costing Overview
  • Journal Entries
  • Flow of Costs Illustrated
  • Illustrated General Ledger in a Job Cost Environment
  • Accounting for Overhead
  • Three Methods for Adjusting Over/Underapplied Overhead
Activity Based-Costing and Cost Management
  • Background
  • Broad Averaging
  • Over and Undercosting
  • Cross-subsidization
  • Rationale for Selecting a More Refined Costing System
  • Cost Hierarchies
  • ABC vs. Simple Costing Schemes
  • Activity-Based Management
Oil and Gas Accounting
  • Oil and Gas Production and Sales
  • Some State and US Federal Oil and Gas Drilling Regulation
  • Maximum Efficiency Rate (MER)
  • The Concept of Peak Oil (1)
  • 4 Basic Types of Cost
  • Acquisition Costs
  • Exploration Costs
  • Development Costs
  • Production Costs
  • Historical Cost Accounting Methods
  • Historical Development of Accounting Methods and Current Status
  • Introduction to Successful Efforts Accounting
  • Chart Accounts for Successful Efforts Company

Additional information

Cost:                        

£4,800.00 Per Delegate for UK Delivery
£6,000.00 Per Delegate for Delivery outside the UK 

Management Accounting and Cost Accounting in the Downstream International Petroleum – Oil and Gas – Industry

£ 6,000 + VAT