BEGIN:VCALENDAR VERSION:2.0 PRODID:-//wp-events-plugin.com//7.2.3.1//EN BEGIN:VEVENT UID:1599@x8ti.com DTSTART;TZID=Asia/Riyadh:20260727T090000 DTEND;TZID=Asia/Riyadh:20260807T130000 DTSTAMP:20260207T233534Z URL:https://x8ti.com/event/ifrs-for-oil-and-gas-companies-training-course- 2/ SUMMARY:IFRS for Oil and Gas Companies Training Course DESCRIPTION:Introduction \nInternational Financial Reporting Standards (IF RS) are a set of accounting and financial rules for the financial statemen ts of public companies. The primary goal of IFRS is to ensure transparency and consistency in financial reporting\, both locally and internationally . This is particularly important for oil and gas companies that operate in ternationally and must adhere to different regulatory and capital markets. IFRS operates on four basic principles: clarity\, relevance\, reliability \, and comparability\, ensuring consistent and reliable financial practice s worldwide.\nLearning Objectives\nThis IFRS course for Oil and Gas Compan ies aims to empower participants to:\n\n Learn international accounting s tandards\, planning\, and policies used in the oil and gas sector.\n Unde rstand financial implications of oil and gas production contracts.\n Appl y international and local accounting standards related to the oil and gas sector.\n Improve the reliability of financial reports for businesses.\n Utilize publicly available information in IFRS to assess business perform ance in the oil and gas industry.\n Apply IFRS in the upstream oil and ga s sector.\n Navigate diverse finance and accounting practices in the oil industry.\n Understand hedge accounting related to the oil and gas indust ry.\n Value tangible assets accurately.\n Apply IFRS rules related to as set impairment.\n Identify and solve IFRS-related problems.\n Implement IFRS at the initial stage of adoption.\n\nTraining Methodology\nXcelerate Training Institute customizes IFRS training according to the audience's re quirements. The content is reviewed and updated before each session. Train ing is delivered by experienced experts from the relevant field\, using gr oup activities\, projects\, experiential learning\, and situational analys is. This unique approach\, known as the Do–Review–Learn–Apply Model\ , ensures maximum learning. The course design incorporates material from y early IFRS reports of major international oil and gas companies\, providin g attendees with case studies and one-on-one sessions with instructors for personalized learning.\nBenefits for Your Organization\nOrganizations can gain from:\n\n Enhanced financial knowledge and skills to understand and implement IFRS.\n Improved international financial ratings and business opportunities.\n Better handling of significant financial accounting issu es in IFRS.\n Increased ability to apply IFRS for organizational requirem ents.\n Enhanced corporate governance and reduced risk.\n More informed and effective financial decision-making.\n Long-term improvement in finan cial statements.\n Increased opportunities for investment\, collaboration s\, and joint ventures.\n Reduced burden on finance managers and CFOs.\n Preparedness for increased responsibilities related to IFRS among trained employees.\n\nBenefits for You\nParticipants will benefit by:\n\n Gainin g skills\, knowledge\, and experience in IFRS to advance their careers.\n Playing an increased role in their company due to IFRS understanding.\n Making more informed financial decisions and reducing risk.\n Improving t heir financial decision-making skills\, increasing their importance to the organization.\n Understanding major issues affecting their role and how to resolve them.\n\nTarget Audience\nThis course is ideal for:\n\n Financ ial Controllers and Corporate Accountants\n Finance Staff in various depa rtments\n Treasury Officers and Management Accountants\n Internal or Ext ernal Accounts/Financial Associates and Auditors\n Employees of governmen t regulatory authorities\n Investment and Financial Experts\n Upstream p rofessionals in oil and gas activities\n\nCourse Outline\nFinancial Report ing in Oil and Gas Sector\n\n Types of oil/gas contracts\n Leases and co ncessions\n Production Sharing Agreement (PSA)\n Exploration/Evaluation of oil and gas resources\n Plant\, property\, and equipment\n Intangible and tangible assets\n Asset impairment\n\nFinancial Statements and Asset s\n\n Financial statements\n Write-offs treatment\n Oil and gas assets classification\n Asset control and de-recognition\n Estimation of reserv es and treatment of cost recovery\n\nRevenue and Recovery\n\n Revenue rec ognition\n Revenue recognized by upstream companies\n Over lift balances \n Cost recovery methods in PSAs\n PSA’s tax oil\n\nInterest and Taxes \n\n Interests from decommissioning\n Restoration Rehabilitation Funds\n Income taxes\n Sales taxes and income taxes\n Tax holidays\n Deferred taxes arising on assets\n\n Risk Management and Assessment\n\n Leases a nd leasing projects\n Foreign currency and functional currency\n Risk as sessments in IFRS\n Financial risk control and management of upstream gas and oil\n Derivatives utilization\n Hedging techniques\n Joint venture s and risk\n\nAccounting and Pricing\n\n Asset exchanges accounting\n Ma jor and latest accounting issues in oil and gas\n Commodity prices impact \n Interest rate and currency variation\n\nAssets\n\n Accounting for ass ets in all areas of the oil and gas petrochemical industry\n Depreciation \, depletion\, and amortization\n Assets impairment\n\nFair Value Measure ment (FVM)\n\n Fair value system and measurement\n Reserve-reporting\n Accounting and financing in oil business\n Consolidated financial stateme nts\n\nInterest\n\n Interests in other entities\n Strategic development in the oil industry\n Joint ventures and joint arrangements\n Profit\, c ost oil\, and break-even oil\n\nCash Flow Management and Investors\n\n Ca sh flow and financial instruments in oil and gas\n Statement of cash flow s\n Creative accounting and corporate governance\n Investor protection\n Corporate governance\n The role of the internal board and audit committ ees\n Reporting to investors\n ATTACH;FMTTYPE=image/jpeg:https://x8ti.com/wp-content/uploads/2025/01/d6ac 12cf-1ed4-4252-b0a5-de39b48d627c.jpg CATEGORIES:Accounting & Finance LOCATION:http://online END:VEVENT BEGIN:VTIMEZONE TZID:Asia/Riyadh X-LIC-LOCATION:Asia/Riyadh BEGIN:STANDARD DTSTART:20250727T090000 TZOFFSETFROM:+0300 TZOFFSETTO:+0300 TZNAME:+03 END:STANDARD END:VTIMEZONE END:VCALENDAR