Joint Venture Accounting in the Oil and Gas Industry
Account for oil and gas joint operations: cash calls, cost allocation, billing, audits and cost recovery.
- 5 days
- Classroom · Live virtual · In-house
- Afriskora Certificate of Completion
Course overview
Most oil and gas operations are joint ventures, and accounting for them has its own rules and disputes. This course covers joint operating agreements, accounting procedures, cash calls, cost allocation, partner billing, audit rights, cost recovery under production sharing contracts and IFRS 11 treatment.
Who should attend
- Oil and gas accountants
- JV and partner relations staff
- Auditors and cost recovery officers
- Government petroleum revenue officials
What you will be able to do
- Interpret JOAs and accounting procedures
- Manage cash calls and partner billing
- Allocate costs correctly
- Conduct and respond to JV audits
- Apply cost recovery and IFRS 11 principles
Course outline
Day 1Joint ventures
- • JV structures
- • Joint operating agreements
- • Operator and non-operator roles
- • Governance committees
Day 2Accounting procedures
- • Chargeable costs
- • Overheads
- • Cash calls
- • Billing statements
Day 3Cost allocation
- • Allocation methods
- • Material and inventory
- • Shared services
- • Disputes
Day 4Audits
- • Audit rights
- • Audit process
- • Common findings
- • Resolving exceptions
Day 5Cost recovery and reporting
- • Cost recovery under PSCs
- • Government audits
- • IFRS 11
- • Case study
Frequently asked questions
How long is the Joint Venture Accounting in the Oil and Gas Industry course?
The course runs for 5 days. Daily start and finish times are confirmed in your joining instructions. Live virtual sessions cover the same programme.
Do I receive a certificate?
Yes. Every participant who completes the course receives an Afriskora Certificate of Completion with a unique code that employers can verify online.
Can this course be delivered in-house for our team?
Yes. We can run it at your premises or online for your team, on dates that suit you, and adapt examples and case studies to your sector.
How do I book and pay?
Request dates and we'll send available sessions and a quote. Bookings are confirmed by invoice and paid by EFT. South African clients can include the course in their Workplace Skills Plan.
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