FINANCIAL ASPECTS AND BUDGETING OF INDONESIAN PSC
FINANCIAL ASPECTS AND BUDGETING OF
INDONESIAN PSC
September 9th - 11th 2015 – Bandung
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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