|Prerequisites for Module|
None in addition to course entry requirements or equivalent.
Aims of Module
To provide students with the skills and knowledge to understand and critically evaluate the reporting practices of international upstream oil and gas exploration and production companies.
Learning Outcomes for Module
On completion of this module, students are expected to be able to:
Indicative Module Content
Introduction to oil and gas accounting. Brief history of the development of the world-wide accounting regulatory framework within which international oil companies operate. Different phases of activity for an exploration and production (E&P)oil company and related accounting treatments in each phase. Full cost and successful efforts methods. Reserve recognition accounting. Specific risks facing E&P companies on the reporting of activities. International accounting standards. Issues facing the international accounting standards board in setting a comprehensive accounting standard for the oil industry. Work of the oil industry finance association. Latest developments in the accounting area and reference to research papers. Analysis of published financial statements of oil companies.
|Indicative Student Workload|
Mode of Delivery
This is a lecture-based module supplemented with tutorials/workshops and directed study.
Component 1 is assessed by a closed book examination.