FINANCIAL ASPECTS AND BUDGETING OF INDONESIAN PSC
FINANCIAL ASPECTS AND BUDGETING OF INDONESIAN PSC
June, 26th – 28th
2013 – Stone Hotel Bali
Course Objectives
· To explain and describe financial aspects and
budgeting under Indonesian PSC using very simple “finance and accounting
language” so can be understood by staffs without any accounting and finance
knowledge.
· To explain comprehensively what is cost recovery in
relation to the company’s profit
· To learn how to read Annual Work Program and Budget
This course is
designed for those interested in learning about financial aspects and budgeting
under Indonesian PSC as an additional working knowledge to support his or her
assignments. Concepts and theory are presented in such a way that will invite
participants to be actively involved in the discussions. The presentation of
related cases and discussion of current issues are intended to help
participants in turning the theory into practical knowledge.
Course Content
1.
Introduction
·
What is Financial Accounting
·
What is Financial Management
·
Financial Aspects of PSC
2.
Overview of Relevant Section of the Contracts
·
Work Program and Budget
·
Rights
and Obligations of the Parties
·
Recovery
of Operating Costs and Handling of Production
·
Valuation
of Crude Oil and Natural Gas
·
Payments
·
Title of
Equipments
·
Books and
Accounts and Audits
·
Exhibit
C- Accounting Procedures
3.
Operating Costs
·
Definition
·
Non
Capital Costs
·
Capital
Costs
4.
Depletion, Depreciation and Amortization (DD&A)
·
Definition
·
Asset Valuation and Depreciable Base
·
Depreciation Methods
5.
Budgeting
·
Definition and Role of Budgets
·
Budget Preparation
·
Annual Work Program and Budget
·
Authorization For Expenditure (AFE)
6.
General Discussion of Current Issues
Training Method
- Presentations,
active participation through group discussions
- Highly
interactive lecture
- Experiential
learning
Target Participants
Professionals
in the Company who want to get an additional working knowledge of Financial
Aspects and Budgeting of Indonesian PSC to enhance their cost and budget
consciousness in performing their tasks.
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