Fundamentals of Joint Venture Accounting in the Oil and Gas Industry - Virtual Learning
Course Methodology
Participants to this Gulf Rowad Joint Venture Accounts training course will receive an explanation and demonstration of the accounting issues relating to joint venture arrangements. The training methodology includes case studies, group live instruction, presentation and discussion of worked examples ,group discussion and interactive participation is encouraged
Course Objectives
By the end of this GLOMACS training course, you will be able to understand:
- The structure of joint ventures in the oil and gas industry
- The applied structured methodology for conducting oil industry in joint-venture
- The different accounting method for joint ventures
- The account for interests in joint operations
- The main clauses contained with joint operating agreements
- The accounting procedures set out in joint operating agreements and production sharing contacts
- The differences in accounting treatments of costs for IFRS reporting and cost recovery purposes
- Application of series of major financial accounting principles and standards that are particularly relevant to oil and gas activities
- The different types of Joint Venture agreements and the accounting implications of each
- Accounting issues related specifically to joint interests
Target Audience
This Gulf Rowad Joint venture Accounting training course is designed to develop accounting knowledge and skills, providing details of the latest policies and procedures. It will be greatly benefit to :
- Joint Venture Accountants and Auditors
- Government Regulators and Auditors
- Financial and Investment Analysts
- Project Managers & Team Members
- Financial Analysts
- Accounting Executive / Managers
- Financial Reporting & Treasurers / Managers
- Financial Executives / Managers / Controllers / Directors
- Budgeting Officers / Executives / Managers
- Cost Controllers, Executive & Managers
- Taxation & Reporting Executives / Managers
- JV Executives / Managers / Advisors
- Business / Investment Analysts & Managers
- Regulatory Compliance Officers
- Commercial Analysts, Executives & Manager
Target Competencies
Organisational Impact
This Gulf Rowad Joint Venture Accounting training course is of direct relevance to the joint venture account and as a result the organizations will benefit greatly from their employees participation. The organization will gain from:
- More effective finance support for front-line departments
- Greater relevance and reliability of accounting and financial
- More strategic thinking and focus on performance
- More effective use of accounting methods
- Preparation of staff for increased responsibility
Personal Impact
This GLOMACS training course will be of personal benefit to delegates by providing you with:
- A better understanding of the context and importance of the work you do
- Greater awareness of industry practices, problems and solutions
- Increased understanding and assurance to complete tasks successfully
- Increased self-confidence and motivation at work
- Greater job satisfaction in providing quality support to management
- Greater ability to supervise, develop and motivate colleagues
Course Outline
Introduction to Accounting in Oil & Gas industry
- Characteristic Features of the Oil and Gas Industry
- Overview of oil and gas accounting
- The impact of commodity prices, currency & interest rate instability
- Differences between IFRS principles and US GAAP
- Joint venture agreement in Oil & Gas Sector
Joint Venture Nature & Forms
- Joint Venture Definition, Features and Characteristics
- Typical Provisions of Joint Venture Agreements
- Relationship between Operator and Non-operator Participants
- Corporate Joint Ventures
- Limited Partnership
- Undivided Interest
- Limited Liability Companies / Partnership
Accounting for Joint Venture
- Methods of accounting for joint venture:
- Proportionate consolidation
- Equity method
- Alternative treatments
- Choice of legal framework
- Accounting for the tax treatment:
- Formation
- Maintenance of Accounting
- Allocation & Substantial economic effect
- Level of involvement
- Undivided Interests
J V Accounting in Practice
- Accounting for Contributed Property
- Revenue Recognition Relating to Over and Under-lifting
- Budgets and Approvals
- Cash-calls Billing Statements and Reporting of Expenditures
- Responsibility of Operator to Provide Sufficient Timely Information
- Audits
Major Accounting Issues in Joint Venture
- Accounting Issues related to Joint Venture Operations
- IFRS 11 Joint Arrangements and IAS 28 Investments in Joint Ventures
- Relationship between Operator and Non-operator Participants
- The Financing of Joint Ventures – Billing Statements and Cashflow Reporting
- Reporting of Expenditures
- Cost Allocation Methods and Issues
2026 Schedule & Fees
| Date | City | Language | Price | Action |
|---|---|---|---|---|
| 28 Jun - 02 Jul, 2026 | Online | English | USD 2,000 | Book |
| 28 Jun - 02 Jul, 2026 | Online | Arabic | USD 2,000 | Book |
| 05 Jul - 09 Jul, 2026 | Online | English | USD 2,000 | Book |
| 05 Jul - 09 Jul, 2026 | Online | Arabic | USD 2,000 | Book |
| 12 Jul - 16 Jul, 2026 | Online | Arabic | USD 2,000 | Book |
| 12 Jul - 16 Jul, 2026 | Online | English | USD 2,000 | Book |
| 19 Jul - 23 Jul, 2026 | Online | Arabic | USD 2,000 | Book |
| 19 Jul - 23 Jul, 2026 | Online | English | USD 2,000 | Book |
| 26 Jul - 30 Jul, 2026 | Online | English | USD 2,000 | Book |
| 26 Jul - 30 Jul, 2026 | Online | Arabic | USD 2,000 | Book |
| 02 Aug - 06 Aug, 2026 | Online | English | USD 2,000 | Book |
| 02 Aug - 06 Aug, 2026 | Online | Arabic | USD 2,000 | Book |
| 09 Aug - 13 Aug, 2026 | Online | Arabic | USD 2,000 | Book |
| 09 Aug - 13 Aug, 2026 | Online | English | USD 2,000 | Book |
| 16 Aug - 20 Aug, 2026 | Online | Arabic | USD 2,000 | Book |
| 16 Aug - 20 Aug, 2026 | Online | English | USD 2,000 | Book |
| 23 Aug - 27 Aug, 2026 | Online | Arabic | USD 2,000 | Book |
| 23 Aug - 27 Aug, 2026 | Online | English | USD 2,000 | Book |
| 30 Aug - 03 Sep, 2026 | Online | Arabic | USD 2,000 | Book |
| 30 Aug - 03 Sep, 2026 | Online | English | USD 2,000 | Book |
| 06 Sep - 10 Sep, 2026 | Online | Arabic | USD 2,000 | Book |
| 06 Sep - 10 Sep, 2026 | Online | English | USD 2,000 | Book |
| 13 Sep - 17 Sep, 2026 | Online | Arabic | USD 2,000 | Book |
| 13 Sep - 17 Sep, 2026 | Online | English | USD 2,000 | Book |
| 20 Sep - 24 Sep, 2026 | Online | English | USD 2,000 | Book |
| 20 Sep - 24 Sep, 2026 | Online | Arabic | USD 2,000 | Book |
| 27 Sep - 01 Oct, 2026 | Online | English | USD 2,000 | Book |
| 27 Sep - 01 Oct, 2026 | Online | Arabic | USD 2,000 | Book |
| 04 Oct - 08 Oct, 2026 | Online | English | USD 2,000 | Book |
| 04 Oct - 08 Oct, 2026 | Online | Arabic | USD 2,000 | Book |
| 11 Oct - 15 Oct, 2026 | Online | English | USD 2,000 | Book |
| 11 Oct - 15 Oct, 2026 | Online | Arabic | USD 2,000 | Book |
| 18 Oct - 22 Oct, 2026 | Online | Arabic | USD 2,000 | Book |
| 18 Oct - 22 Oct, 2026 | Online | English | USD 2,000 | Book |
| 25 Oct - 29 Oct, 2026 | Online | Arabic | USD 2,000 | Book |
| 25 Oct - 29 Oct, 2026 | Online | English | USD 2,000 | Book |
| 01 Nov - 05 Nov, 2026 | Online | Arabic | USD 2,000 | Book |
| 01 Nov - 05 Nov, 2026 | Online | English | USD 2,000 | Book |
| 08 Nov - 12 Nov, 2026 | Online | Arabic | USD 2,000 | Book |
| 08 Nov - 12 Nov, 2026 | Online | English | USD 2,000 | Book |
| 15 Nov - 19 Nov, 2026 | Online | Arabic | USD 2,000 | Book |
| 15 Nov - 19 Nov, 2026 | Online | English | USD 2,000 | Book |
| 22 Nov - 26 Nov, 2026 | Online | Arabic | USD 2,000 | Book |
| 22 Nov - 26 Nov, 2026 | Online | English | USD 2,000 | Book |
| 29 Nov - 03 Dec, 2026 | Online | English | USD 2,000 | Book |
| 29 Nov - 03 Dec, 2026 | Online | Arabic | USD 2,000 | Book |
| 06 Dec - 10 Dec, 2026 | Online | English | USD 2,000 | Book |
| 06 Dec - 10 Dec, 2026 | Online | Arabic | USD 2,000 | Book |
| 13 Dec - 17 Dec, 2026 | Online | Arabic | USD 2,000 | Book |
| 13 Dec - 17 Dec, 2026 | Online | English | USD 2,000 | Book |
| 20 Dec - 24 Dec, 2026 | Online | Arabic | USD 2,000 | Book |
| 20 Dec - 24 Dec, 2026 | Online | English | USD 2,000 | Book |
| 27 Dec - 31 Dec, 2026 | Online | English | USD 2,000 | Book |
| 27 Dec - 31 Dec, 2026 | Online | Arabic | USD 2,000 | Book |
Face to Face Courses
We can customize this training course for you!
At Al Mawred, we offer customizable courses designed to fit your specific needs. Whether it's refining technical practices or enhancing leadership and management skills, we tailor our programs to meet your unique goals and challenges. Let us create a training solution that delivers real results for your team.
Request for In-House TrainingReady to advance your career?
Join thousands of professionals who have already enhanced their skills with Al Mawred.
Register for this course