Code Date Venue Fees
FI085 11 - 22 Sep 2017 London - United Kingdom $11,000 Register
Home » Seminars » Finance & Budgeting » The 10-Day International Financial Reporting & Treasury Risk Management for the Oil & Gas Industry

Introduction

This GLOMACS Finance and Treasury Management training course will provide delegates with the essential knowledge and skills to manage the Treasury effectively thereby improving liquidity, investment returns and international cashflow as well as risk management. This highly-interactive training course will also develop an improved understanding of International Financial Reporting enabling reports to be written in accordance with IFRS and evaluated to improve decision making. 

The Treasury & Risk Management function and Financial Reporting are essential to the success and sustainability of all leading corporate organisations. Never has this been more true, given the ever increasing pace of change in regulation, compliance, technology and financial risk within the Oil & Gas industry.

Treasury Management ensures sufficient liquidity to meet its obligations, whilst managing payments, receipts and financial risks such as Credit Risk, Oil Price, Exchange Rate and Interest Rate Risk effectively. In addition effective Treasury & Risk management will enable companies to make informed and better strategic decisions, providing the analysis, finance and risk assessment.

Financial Reporting develops an essential understanding of Oil & Gas accounting, reporting and performance measurement issues and practices. It develops your ability to prepare, use and critically evaluate information, applying specialist industry knowledge and relevant analytical skills.

This training seminar will highlight:

  • The Role of Scope of Treasury & Risk Management
  • The latest international tools and techniques to enable you to identify; measure and manage risk effectively
  • Methods to ensure, liquidity, improved investment returns and smooth cash operations
  • Capital Investment Techniques and Methods of Finance to support Strategic Objectives
  • The features and Benefits of Derivatives as Risk Management tools
  • The main requirements of International Financial Reporting Standards (IFRS) relevant to the Oil & Gas industry
  • The Analysis & Evaluation of Financial Reports to improve decision making and performance

The seminar is split into two modules:

MODULE I - Treasury and Risk Management

MODULE II - International Financial Reporting Standards (IFRS) for the Oil & Gas Industry

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-week training course.

Objectives

At the end of this training seminar, you will learn to:

  • Manage Cash; Liquidity & Working Capital to reduce finance costs and improve returns
  • Make informed Strategic Decisions
  • Determine and Implement the company’s Risk Management Strategy
  • Recommend Hedging and Risk Management Decisions
  • Improve the Corporate Governance of the organization
  • Apply International Financial Reporting Standards most relevant to the Oil & Gas industry
  • Analyse and evaluate financial reports to better meet the needs of users
  • Review and use publicly available information to benchmark the business performance of your company in the Oil & Gas industry

Training Methodology

In order to ensure skill development as well as improved knowledge the training seminar will be conducted along with workshop principles using real life case studies and interactive worked examples from the Oil & Gas industry. Participants will be actively engaged, individually and as part of a group, in their discussion, analysis and evaluation throughout the seminar.

Participants will also be given a detailed set of handouts in hard and soft copy to enable them to review the topics covered at a later date.

 

Organisational Impact

The aim of this training seminar is to provide participants with the knowledge and skills to make an effective contribution to the Treasury & Risk Management function and Financial Reporting & Analysis, enabling them to make the following organisational impact:

  • Improved informed decision making
  • Improved strategic thinking and focus on performance
  • Liquidity, Credit, Capital, Currency, Interest Rate, Commodity Price Management
  • Improved risk assessment and management
  • Increased profitability through cost and risk reduction
  • Improved Corporate Governance and Stakeholder relationships
  • Improved finance culture through the dissemination of knowledge and skills
  • Greater relevance and reliability of financial and management information
  • More effective use of financial statements of the company, its co-venturers and its competitors

Personal Impact

As a result of attending this vital training seminar, focusing on the latest issues and risk facing organisations and the techniques to manage them, you will:

  • Develop your professional skills and increase your awareness of industry practices, problems and solutions
  • Understand the latest international tools and techniques relevant to your role
  • Be able to make more informed and hence better financial decisions using various models and software.
  • Increase your importance and ability to contribute effectively to your organization’s goals.
  • Be able to liaise effectively with other departments and professionals on planning, forecasting, budgeting matters, financial and investment analysis
  • Increased self-confidence and motivation at work
  • Greater job satisfaction in providing quality support to management
  • Greater ability to supervise, develop and motivate colleagues

Who Should Attend?

Given the importance of the Treasury & Risk Management and and Financial Reporting & Analysis, this training course is suitable to a wide range of professionals but will greatly benefit:

  • Professionals who wish to up-date and improve their knowledge and skills of Treasury, Risk management and Finance
  • Financial decision makers, whose techniques of decision making and analysis will be improved through attendance
  • Managers and those with financial responsibilities
  • Professionals acting upon the financial decisions of others, who will gain an appreciation for decision making thereby ensuring shared values within the organisation
  • Professionals with an interest in finance and the latest market developments

Seminar Outline

Module 1 - Treasury and Risk Management

DAY 1

The Role of Treasury Management – An Overview

  • The Role & Scope of Treasury Management
  • Operation & Location of a Treasury Department – Cost or Profit Centre; Centralised or Decentralised
  • Cash & Liquidity Management
  • Working Capital Management
  • Capital/Finance Management
  • Risk Management

DAY 2

Cash & Liquidity Management – A Detailed Analysis

  • Cash Budgets & Forecasts
  • Variance Analysis
  • Meeting Cash Calls and Short-Term Methods of Finance
  • Working Capital Management – determining the optimum level
  • Netting & Cash Concentration Accounts
  • Mult-national & Group Cash Management

DAY 3

Financing and Capital Management

  • Methods of Raising Long Term Finance (Equity v Debt)
  • Optimizing the Capital Structure to Minimize the Cost of Capital (WACC)
  • Investment of Cash Surpluses to Maximize Return
  • Raising Finance to meet Strategic Objectives – M & A; Joint Ventures etc.
  • Capital Investment Appraisal – NPV; IRR, Payback
  • Risk Forecasting

DAY 4

Risk Management

  • Identifying Risks and Uncertainties – Internal & External; Financial & Non-Financial
  • Measuring Risk – volatility; variance; standard deviation; probability; Value at Risk
  • Determining the Risk Management Strategy – assessing impact and probability
  • The 4 T’s – Tolerate; Terminate; Transfer; Treat
  • Internal Controls & Internal Auditing
  • Credit & Counterparty Risk Management

DAY 5

Currency; Interest Rate & Commodity (Oil Price) Risk Management

  • Forward Contracts and Forward Rate Agreements
  • Options – Calls & Puts; European & American
  • Futures – Market Correlation; Margin Payments etc.
  • Swaps – Currency & Interest Rate Risk and Benefits
  • Foreign Currency Accounts other Internal Methods/Tactics
  • Foreign Currency Borrowing

 

Module 2 - International Financial Reporting Standards (IFRS) for the Oil & Gas Industry

DAY 6

The Oil and Gas Sector & Major Accounting Issues

  • The Oil & Gas Sector & the Macro-economic Factors
    • Commodity prices, currency fluctuations, interest rate risk and political developments and environmental risk.
  • Costs in Acquisition, Exploration, Development and Production of new oil or natural gas reserves
  • Accounting Approaches
    • The "Successful Efforts" (SE) Method or the "Full Cost" (FC) Method
  • Introduction/Overview of IFRS in relation to the Oil & Gas Sector, with particular reference to:
    • IFRS 1: First-time Adoption of International Financial Reporting Standards
    • IFRS 6: Exploration for and Evaluation of Mineral Assets
    • IFRS 10: Consolidated Financial Statements
    • IFRS 11: Joint Arrangements
    • IAS 16: Property, Plant and Equipment
    • IAS 36: Impairment of Assets
    • IAS 37: Provisions, Contingent Liabilities and Contingent Assets
    • IAS 38: Intangible Assets
    • IAS 39 Financial Instruments: Recognition and Measurement – Superseded by IFRS 9 – was to be effective 2013 but now 2018

DAY 7

Evaluating the Performance and Identifying the Accounting Issues

  • Analysis of financial statements
    • Income Statements
    • Statement of Financial Position (Balance Sheet)
    • Cash flow Statements
  • Identification & Evaluation of their Accounting Policies
  • DuPont Analysis – Evaluating and Improving Return on Equity (ROE)
  • Evaluation of their Share Price and Investment Performance
  • Case Study: BP, Chevron, Shell and SABIC

DAY 8

Accounting for Upstream Activities with Reference to IFRS

  • Reserves and resources
  • Exploration and evaluation
  • Revenue recognition
  • Assets
  • Depletion, Depreciation & Amortisation (“DD&A”)
  • Impairment of development, production and downstream assets
  • Examples: BP, Chevron & Shell

DAY 9

Joint Arrangements, Financial Instruments and Derivatives

  • Business Combinations, Joint Ventures & Production Sharing Agreements (“PSA”s)
  • Treasury Management Issues for Multi-nationals
  • The Use of Derivatives in the Oil & Gas Sector to manage the commodity, currency and interest-rate risks etc.
  • British Airways Case Study – Hedging the Oil Price using Futures

DAY 10

Creative Accounting and Corporate Governance

  • Creative Accounting – Enron and investor protection
  • Leases – IFRS 16 (new standard)
  • Auditors and reporting to investors in the oil and gas industry
  • External audit investigations and reports
    • The Auditor’s ‘Opinion'
    • True and Fair
    • Sarbanes Oxley
    • Internal audits
  • Ethical issues
  • Corporate governance
    • Government regulation
    • Investor confidence and share prices

 

Accreditation

  • Quality Logo

In Association With

Oxford Management Centre

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients

Visit website

PetroKnowledge

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

Visit website

Related Courses & Seminars

Share this Seminar

Home » Seminars » Finance & Budgeting » The 10-Day International Financial Reporting & Treasury Risk Management for the Oil & Gas Industry

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

DMCA.com Protection Status

Send to Colleague

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.





Sending your message. Please wait...

Send Successfully

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Print Page

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.






Sending your message. Please wait...

Close

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Download PDF

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.






Sending your message. Please wait...

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.



The 10-Day International Financial Reporting
& Treasury Risk Management for the
Oil & Gas Industry


Upcoming Dates

Code Date Venue Fees
FI085 11 - 22 Sep 2017 London - United Kingdom $11,000

Introduction

This GLOMACS Finance and Treasury Management training course will provide delegates with the essential knowledge and skills to manage the Treasury effectively thereby improving liquidity, investment returns and international cashflow as well as risk management. This highly-interactive training course will also develop an improved understanding of International Financial Reporting enabling reports to be written in accordance with IFRS and evaluated to improve decision making. 

The Treasury & Risk Management function and Financial Reporting are essential to the success and sustainability of all leading corporate organisations. Never has this been more true, given the ever increasing pace of change in regulation, compliance, technology and financial risk within the Oil & Gas industry.

Treasury Management ensures sufficient liquidity to meet its obligations, whilst managing payments, receipts and financial risks such as Credit Risk, Oil Price, Exchange Rate and Interest Rate Risk effectively. In addition effective Treasury & Risk management will enable companies to make informed and better strategic decisions, providing the analysis, finance and risk assessment.

Financial Reporting develops an essential understanding of Oil & Gas accounting, reporting and performance measurement issues and practices. It develops your ability to prepare, use and critically evaluate information, applying specialist industry knowledge and relevant analytical skills.

This training seminar will highlight:

  • The Role of Scope of Treasury & Risk Management
  • The latest international tools and techniques to enable you to identify; measure and manage risk effectively
  • Methods to ensure, liquidity, improved investment returns and smooth cash operations
  • Capital Investment Techniques and Methods of Finance to support Strategic Objectives
  • The features and Benefits of Derivatives as Risk Management tools
  • The main requirements of International Financial Reporting Standards (IFRS) relevant to the Oil & Gas industry
  • The Analysis & Evaluation of Financial Reports to improve decision making and performance

The seminar is split into two modules:

MODULE I - Treasury and Risk Management

MODULE II - International Financial Reporting Standards (IFRS) for the Oil & Gas Industry

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-week training course.

Objectives

At the end of this training seminar, you will learn to:

  • Manage Cash; Liquidity & Working Capital to reduce finance costs and improve returns
  • Make informed Strategic Decisions
  • Determine and Implement the company’s Risk Management Strategy
  • Recommend Hedging and Risk Management Decisions
  • Improve the Corporate Governance of the organization
  • Apply International Financial Reporting Standards most relevant to the Oil & Gas industry
  • Analyse and evaluate financial reports to better meet the needs of users
  • Review and use publicly available information to benchmark the business performance of your company in the Oil & Gas industry

Training Methodology

In order to ensure skill development as well as improved knowledge the training seminar will be conducted along with workshop principles using real life case studies and interactive worked examples from the Oil & Gas industry. Participants will be actively engaged, individually and as part of a group, in their discussion, analysis and evaluation throughout the seminar.

Participants will also be given a detailed set of handouts in hard and soft copy to enable them to review the topics covered at a later date.

 

Organisational Impact

The aim of this training seminar is to provide participants with the knowledge and skills to make an effective contribution to the Treasury & Risk Management function and Financial Reporting & Analysis, enabling them to make the following organisational impact:

  • Improved informed decision making
  • Improved strategic thinking and focus on performance
  • Liquidity, Credit, Capital, Currency, Interest Rate, Commodity Price Management
  • Improved risk assessment and management
  • Increased profitability through cost and risk reduction
  • Improved Corporate Governance and Stakeholder relationships
  • Improved finance culture through the dissemination of knowledge and skills
  • Greater relevance and reliability of financial and management information
  • More effective use of financial statements of the company, its co-venturers and its competitors

Personal Impact

As a result of attending this vital training seminar, focusing on the latest issues and risk facing organisations and the techniques to manage them, you will:

  • Develop your professional skills and increase your awareness of industry practices, problems and solutions
  • Understand the latest international tools and techniques relevant to your role
  • Be able to make more informed and hence better financial decisions using various models and software.
  • Increase your importance and ability to contribute effectively to your organization’s goals.
  • Be able to liaise effectively with other departments and professionals on planning, forecasting, budgeting matters, financial and investment analysis
  • Increased self-confidence and motivation at work
  • Greater job satisfaction in providing quality support to management
  • Greater ability to supervise, develop and motivate colleagues

Who Should Attend?

Given the importance of the Treasury & Risk Management and and Financial Reporting & Analysis, this training course is suitable to a wide range of professionals but will greatly benefit:

  • Professionals who wish to up-date and improve their knowledge and skills of Treasury, Risk management and Finance
  • Financial decision makers, whose techniques of decision making and analysis will be improved through attendance
  • Managers and those with financial responsibilities
  • Professionals acting upon the financial decisions of others, who will gain an appreciation for decision making thereby ensuring shared values within the organisation
  • Professionals with an interest in finance and the latest market developments

SEMINAR OUTLINE

Module 1 - Treasury and Risk Management

DAY 1

The Role of Treasury Management – An Overview

  • The Role & Scope of Treasury Management
  • Operation & Location of a Treasury Department – Cost or Profit Centre; Centralised or Decentralised
  • Cash & Liquidity Management
  • Working Capital Management
  • Capital/Finance Management
  • Risk Management

DAY 2

Cash & Liquidity Management – A Detailed Analysis

  • Cash Budgets & Forecasts
  • Variance Analysis
  • Meeting Cash Calls and Short-Term Methods of Finance
  • Working Capital Management – determining the optimum level
  • Netting & Cash Concentration Accounts
  • Mult-national & Group Cash Management

DAY 3

Financing and Capital Management

  • Methods of Raising Long Term Finance (Equity v Debt)
  • Optimizing the Capital Structure to Minimize the Cost of Capital (WACC)
  • Investment of Cash Surpluses to Maximize Return
  • Raising Finance to meet Strategic Objectives – M & A; Joint Ventures etc.
  • Capital Investment Appraisal – NPV; IRR, Payback
  • Risk Forecasting

DAY 4

Risk Management

  • Identifying Risks and Uncertainties – Internal & External; Financial & Non-Financial
  • Measuring Risk – volatility; variance; standard deviation; probability; Value at Risk
  • Determining the Risk Management Strategy – assessing impact and probability
  • The 4 T’s – Tolerate; Terminate; Transfer; Treat
  • Internal Controls & Internal Auditing
  • Credit & Counterparty Risk Management

DAY 5

Currency; Interest Rate & Commodity (Oil Price) Risk Management

  • Forward Contracts and Forward Rate Agreements
  • Options – Calls & Puts; European & American
  • Futures – Market Correlation; Margin Payments etc.
  • Swaps – Currency & Interest Rate Risk and Benefits
  • Foreign Currency Accounts other Internal Methods/Tactics
  • Foreign Currency Borrowing

 

Module 2 - International Financial Reporting Standards (IFRS) for the Oil & Gas Industry

DAY 6

The Oil and Gas Sector & Major Accounting Issues

  • The Oil & Gas Sector & the Macro-economic Factors
    • Commodity prices, currency fluctuations, interest rate risk and political developments and environmental risk.
  • Costs in Acquisition, Exploration, Development and Production of new oil or natural gas reserves
  • Accounting Approaches
    • The "Successful Efforts" (SE) Method or the "Full Cost" (FC) Method
  • Introduction/Overview of IFRS in relation to the Oil & Gas Sector, with particular reference to:
    • IFRS 1: First-time Adoption of International Financial Reporting Standards
    • IFRS 6: Exploration for and Evaluation of Mineral Assets
    • IFRS 10: Consolidated Financial Statements
    • IFRS 11: Joint Arrangements
    • IAS 16: Property, Plant and Equipment
    • IAS 36: Impairment of Assets
    • IAS 37: Provisions, Contingent Liabilities and Contingent Assets
    • IAS 38: Intangible Assets
    • IAS 39 Financial Instruments: Recognition and Measurement – Superseded by IFRS 9 – was to be effective 2013 but now 2018

DAY 7

Evaluating the Performance and Identifying the Accounting Issues

  • Analysis of financial statements
    • Income Statements
    • Statement of Financial Position (Balance Sheet)
    • Cash flow Statements
  • Identification & Evaluation of their Accounting Policies
  • DuPont Analysis – Evaluating and Improving Return on Equity (ROE)
  • Evaluation of their Share Price and Investment Performance
  • Case Study: BP, Chevron, Shell and SABIC

DAY 8

Accounting for Upstream Activities with Reference to IFRS

  • Reserves and resources
  • Exploration and evaluation
  • Revenue recognition
  • Assets
  • Depletion, Depreciation & Amortisation (“DD&A”)
  • Impairment of development, production and downstream assets
  • Examples: BP, Chevron & Shell

DAY 9

Joint Arrangements, Financial Instruments and Derivatives

  • Business Combinations, Joint Ventures & Production Sharing Agreements (“PSA”s)
  • Treasury Management Issues for Multi-nationals
  • The Use of Derivatives in the Oil & Gas Sector to manage the commodity, currency and interest-rate risks etc.
  • British Airways Case Study – Hedging the Oil Price using Futures

DAY 10

Creative Accounting and Corporate Governance

  • Creative Accounting – Enron and investor protection
  • Leases – IFRS 16 (new standard)
  • Auditors and reporting to investors in the oil and gas industry
  • External audit investigations and reports
    • The Auditor’s ‘Opinion'
    • True and Fair
    • Sarbanes Oxley
    • Internal audits
  • Ethical issues
  • Corporate governance
    • Government regulation
    • Investor confidence and share prices

 


Quality Logo

GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

 

All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.



© 2017. Material published by GLOMACS shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

Print Logo
P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.ae

Download Training Calendar

Want to stay in touch with what's happening in Glomacs?
Join the conversation on our social media channels:

Facebook Twitter LinkedinYouTube