International Financial Reporting Standards (IFRS)
Technical Accounting for Oil & Gas Companies
Most oil and gas companies have significant international operations, multiple regulatory and capital market considerations, complex organizational structures (often including multiple subsidiaries and joint venture relationships), and global competitors who may already be reporting under IFRS. This training is developed to address issues that are not only unique to the industry but specific to a company. The training can be modified in length and coverage of topics, and can range from a two-hour session to a full-day session, or more. An individual Oil & Gas company would exclusively pay for this training which could be tailored for management, the controller's organization, or other functional or operational employees and is intended to provide a basic understanding of IFRS in the Oil & Gas Industry by sector (e.g. upstream, midstream and downstream) including selected technical accounting challenges. This training will be facilitated by subject matter specialists and cover selected topics: Property, Plant and Equipment, Exploration and Development Costs, Impairments, Inventories, Derivative Accounting, Leases and Asset Retirement Obligations, among others.
For more information or to schedule this training at your company, please contact: USOilandGasIFRS@deloitte.com