DAY 1 :Basics of Financial Accounting
– Preliminaries
– Accounting and theory of informations
– Financial accounting versus Management accounting
– Information technology and accounting system set up
– Organization of the Balance sheet/ Income statements
– Postings under the accruals principle
– Chart of Account and granularity of usefull information
– ERP

DAY 2 :
Accounting for fixed assets
– Accounting policy in Oil and Gas business/ IAS 16. IFRS 6
– Intangible assets
– Tangible fixed assets
Accounting per components and major inspection in big Industrial Installations
Major types of Fixed assets
Postings methodology
– Preliminary comments
– The components issue or how identify items with different expected life
– Depreciation and impairments methodology : cash generating unit, fair market value identification, discount rate, impairment itself, write back of write-off, differences with US GAAP.

DAY 3 :
Accounting for inventories
– General comments
– Physical stock taking and permanent inventory reconciliation
– Spare parts
– Inventory valuation in Oil and Gas Business and the relationship between field engineers and financial people.

DAY 4 :
Management Accounting in Oil related products factory ( Tar, lubricants, Refineries…)
– Basics cost calculation system
– Product costing
– Budget Production
– Refining Margin
– KPI and balance score card applicable to production environment

DAY 5 :
Theory of choice of capital Investment
– Case studies applicable to Petrochemicals investments