SAP, Joint Venture Accounting: Petroleum, Oil and Gas Operation, Short Course

Accounting: Oil-Gas SAP Joint Venture; Postgraduate Course

Course or Seminar Number 107 - Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation Course, Leading to Diploma – Postgraduate – in Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation, Double-Credit, 60 Credit-Hours, accumulating to a Postgraduate Certificate, with 120 additional Credit-Hours, and a Postgraduate Diploma, with 300 additional Credit-Hours.

Course or Seminar Number 107 - SAP and Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation Seminar or Course, Leading to Diploma – Postgraduate – in SAP and Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation (Double-Credit).

Course Co-ordinator

Prof. Dr. R. B. Crawford is Course Coordinator. He is the Director of HRODC Postgraduate Training Institute, A Postgraduate-Only Institution. He has the following Qualifications and Affiliations:

Doctor of Philosophy {(PhD) {University College London (UCL) - University of London)};

MEd Management (University of Bath);

Postgraduate (Advanced) Diploma Science Teacher Ed. (University of Bristol);

Postgraduate Certificate in Information Systems (University of West London, formerly Thames Valley University);

Diploma in Doctoral Research Supervision, (University of Wolverhampton);

Teaching Certificate;

Fellow of the Institute of Management Specialists;

Human Resources Specialist, of the Institute of Management Specialists;

Member of the Asian Academy of Management (MAAM);

Member of the International Society of Gesture Studies (MISGS);

Member of the Standing Council for Organisational Symbolism (MSCOS);

Member of ResearchGate;

Executive Member of Academy of Management (AOM). There, his contribution incorporates the judging of competitions, review of journal articles, and guiding the development of conference papers. He also contributes to the Disciplines of:

Human Resources;

Organization and Management Theory;

Organization Development and Change;

Research Methods;

Conflict Management;

Organizational Behavior;

Management Consulting;

Gender & Diversity in Organizations; and

Critical Management Studies.

Professor Dr. Crawford has been an Academic in the following UK Universities:

University of London (Royal Holloway), as Research Tutor;

University of Greenwich (Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

University of Wolverhampton, (Wolverhampton Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

London Southbank University (Business School), as Lecturer and Unit Leader.

His responsibilities in these roles included:

Doctoral Research Supervisor;

Admissions Tutor;

Postgraduate and Undergraduate Dissertation Supervisor;

Programme Leader;

Personal Tutor.

For Whom This Course is Designed

This Course is Designed For:

Joint Venture Accountants;

Oil and Gas Accountants;

Financial Accountants;

Chief Financial Officers;

Venture Capitalists;

Treasury Officials;

General Accountants;

Management Accountants;

SAP Programmers;

SAP Accountants;

Internal auditors;

Public accountants;

Assets accountants;

Attorneys;

Human Resource (HR) Officers who need an overview of SAP system and Joint Venture Accounting;

Any non-financial managers who are required to read, interpret, and contribute to oil and gas accounts.

Duration: 10 Days

Cost:

£10,000.00 Per Delegate

The course cost does not include living accommodation. However, delegates are treated with the following:

Free Continuous snacks throughout the Event Days;

Free Hot Lunch on Event Days;

Free City Tour;

Free Stationery;

Free On-site Internet Access;

HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

Certificate of Attendance and Participation – if unsuccessful on resit.

HRODC Postgraduate Training Institute’s Complimentary Products include:

HRODC Postgraduate Training Institute’s Leather Conference Folder;

HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

HRODC Postgraduate Training Institute’s Key Ring/ Chain;

HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) Bag – Black or Brown;

HRODC Postgraduate Training Institute’s 8GB USB Flash Memory Drive, with Course/ Programme Material;

HRODC Postgraduate Training Institute’s Metal Pen;

HRODC Postgraduate Training Institute’s Polo Shirt.

Location: Central London and International Locations

Daily Schedule: 9:30 to 4:30 pm.

Course or Seminar Number 107 - SAP and Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation Seminar or Course, Leading to Diploma – Postgraduate – in SAP and Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation (Double-Credit).

Course Contents, Concepts and Issues

Part 1- Joint Ventures and Alliances: Rationalising the Decision Process

Joint Venture and Alliance Transactions;

Joint Ventures vs. Alliances;

Justification for the Establishment of Joint Ventures and Alliances;

Classification of Joint Ventures

Information and Communications Technologies (ICTs) Availability: Scenarios Supporting or Mitigating against Joint Ventures and Alliances

Occasions when Joint Ventures and Alliances might enhance the success of Diversification;

Factoring Organisational Strengths and Weaknesses in Joint Ventures and Alliances;

Exploiting Synergies in Joint Ventures and Alliances;

The extent to which Joint Ventures and Alliances Might Enhance New Market or Product Development;

Will Joint Ventures and Alliances improve or impair prospective partners’ Competitive Advantage?;

The extent to which Joint Ventures and Alliances might mitigate Financial Risk;

The Extent to which Cost-Sharing might be an issue in Joint Ventures and Alliances;

Are Joint Ventures and Alliances more likely to promote ‘Efficacy’ or support ‘Waste’?

The relationship between Joint Ventures and Alliances, on the one hand, and Employee Resourcing, on the other;

Joint Ventures and Alliances Valuation;

Initial Contributions of Partners in Joint Ventures and Alliances;

Predicting Cash Flows of a Venture for Joint Ventures and Alliances;

Determining Long-Term Viability of the Venture;

Calculating the Overall Value of a Venture under Joint Ventures and Alliances.

Part 2 - Operationalising Joint Ventures (1)

"Fixed Operating Costs" in a Joint Venture Operation;

"Variable Operating Costs" in a Joint Venture Operation;

Allocated Costs in Joint Venture Operation;

Applying CAPLA Timescales to an Independent Operations Notice;

Authorisation for Expenditure (AFE) as Subservient to Joint Venture Committees;

Calculating Direct Costs in a Joint Venture Operation,

Calculating Profits, on Working Interest Basis, in a Joint Ventures;

Calculating Working Interest Costs in a Joint Ventures;

Dealing with Maim Vote in an Independent Operations Notice;

Determining Accounting expenditure limits in a Joint Ventures;

Determining Capital Costs in Joint Ventures;

Determining Costs in a Joint Venture Operation;

Determining Operating Expenses in Joint Ventures;

Determining the Operator in a Joint Venture;

Employing the Canadian Association of Petroleum Land Administration (CAPLA) Operating Procedure;

Executing Authorisation for Expenditure (AFE) for Information Only;

Executing Mail Ballots in a Joint Venture Operation;

Fixed vs. Variable Operating Costs in a Joint Venture Operation;

Independent Operations Notice in a Joint Venture Operation;

Indirect Costs in a Joint Venture Operation.

Part 3 - Operationalising Joint Ventures (2)

Joint Account Costs in a Joint Venture Operation;

Mechanism for Tracking Capital Expenditure in a Joint Ventures;

Mechanism for Tracking Operating Expenditures in a Joint Ventures;

Operating a Joint Account in a Joint Ventures;

Operator’s Costs in a Joint Venture Operation

Procedure for seeking Partners’ approval for Projects that exceed the Accounting Expenditure Limit;

Relationship between an Independent Operations Notice and an AFE in a Joint Venture Operation.

Risk appropriation for an Independent Operations Notice;

Seeking Partner Approvals, through Authority for Expenditures (AFE);

Specifying Project Benefits in Independent Operations Notice;

The Canadian Association of Petroleum Land Administration (CAPLA) Operating Procedure;

The operation and validity of an Independent Operations Notices (ION);

The place of an Independent Operations Notice (ION) in Joint Venture Operation

The purpose of a Supplemental AFE in a Joint Venture Operation;

Timelines of the Canadian Association of Petroleum Land Administration (CAPLA) Operating Procedure;

Use of an Independent Operations Notice (ION) in a Joint Venture Operation;

Using Mail Ballots (MB) to seek Project Approval;

What happens when a project changes or has a cost overrun?
Who can propose a project in a Joint Venture Operation?

Part 4 - Asset Accounting in Joint Venture Petroleum – Oil and Gas - Accounting

Establishing Fixed Asset Parameters, Generally;

Exploration Wells as Fixed Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Appraisal Wells as Fixed Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Development Wells as Fixed Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Subsea Equipment as Fixed Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Flowline as Fixed Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Moveable Fixed Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Asset Description: Determining Asset Classification in Joint Venture Petroleum – Oil and Gas - Accounting;

Determining Sub Assets in Joint Venture Petroleum – Oil and Gas - Accounting;

Establishing Depreciation Parameters in Joint Venture Petroleum – Oil and Gas - Accounting;

Calculating Depreciation, using the Straight-line Method in Joint Venture Petroleum – Oil and Gas - Accounting;

Units of Production (UoP) Method of Depreciation Calculating Depreciation in Joint Venture Petroleum – Oil and Gas - Accounting;

Performing Monthly Depreciation Test in Joint Venture Petroleum – Oil and Gas - Accounting;

Part 5 - Conceptualising and Contextualising Authorisation for Expenditure (AFE) for Joint Venture Operations (1)

Authorisation for Expenditure (AFE) Conceptualisation;

Authorisation for Expenditure (AFE) as Documentation for Joint Operators’ Approval for Expenditure;

Cost Control as an Aspect of Authorisation for Expenditure (AFE);

Budgeting as an Feature of Authorisation for Expenditure (AFE);

Monitoring as an Aspect of Authorisation for Expenditure (AFE).

Authorisation for Expenditure (AFE) as a Feature of Joint Venture Agreements (JVA);

Authorisation for Expenditure (AFE) for Joint Venture Project Approval;

Economical Evaluation in Authorisation for Expenditure (AFE);

Authorisation for Expenditure (AFE) Coding;

Components of Authorisation for Expenditure (AFE);

Preparation, Execution and Monitoring Process of Authorisation for Expenditure (AFE);

Authorisation for Expenditure (AFE) Process in Join Operation Agreement;

Interest Partner’s Approval as Authorisation for Expenditure (AFE) Execution.

Part 6 - Conceptualising and Contextualising Authorisation for Expenditure (AFE) for Joint Venture Operations (2)

Authorisation for Expenditure (AFE) in Production Sharing Contract (PSC);

Authorisation for Expenditure (AFE) for Risk Service Agreement (RSA) or Risk Service Contract (RSC);

Non-Standard Authorisation for Expenditure (AFE);

Operationally Standardized Authorisation for Expenditure (AFE);

Minimalist Authorisation for Expenditure (AFE);

Addressing Failure to Obtain Approval from all Working Interest Owners of an Authority for Expenditure Result;

Authorisation for Expenditure (AFE) as Reapproval for Budgeting Excess;

Consequences for Non-reapproval of Authorisation for Expenditure (AFE);

Authorisation for Expenditure (AFE) as a Control Mechanism for Oil and Gas Accounting;

Accumulation of AFE Activities in the General Ledger;

Executing Authorisation for Expenditure (AFE);

Reporting of AFE Activities at AFE Level

Part 7 - Key Elements of SAP Supporting Joint Venture Accounting: An Overview, with Tacit Application (1)

Joint Ventures Operation in SAP

Authorization for Expenditure with SAP, in Joint Venture Operations;

Determining Asset Classes and Sub-Classes with SAP, in Joint Venture Operations;

Tangible and Intangible Assets with SAP, in Joint Venture Operations;

Current Assets with SAP, in Joint Venture Operations;

Cash and Cash Equivalents

Short-term Investments

Receivables

Inventory

Prepaid Expenses

Fixed Asset with SAP, in Joint Venture Operations;

Asset Description with SAP, in Joint Venture Operations;

Setting up Depreciation Parameter

Straight Line Method with SAP, in Joint Venture Operations;

Reducing Balance Method with SAP, in Joint Venture Operations;

Unit of Production Method with SAP, in Joint Venture Operations;

Commencement of Depreciation with SAP, in Joint Venture Operations;

Annual Impairment Testing with SAP, in Joint Venture Operations;

Indicators of Impairment with SAP, in Joint Venture Operations;

Part 8 - Key Elements of SAP Supporting Joint Venture Accounting: An Overview, with Tacit Application (2)

Maintaining Asset Register with SAP, in Joint Venture Operations;

Contents of Asset Register with SAP, in Joint Venture Operations;

Cost with SAP, in Joint Venture Operations;

Date of Purchase with SAP, in Joint Venture Operations;

Supplier’s Name and Address with SAP, in Joint Venture Operations;

Serial Number with SAP, in Joint Venture Operations;

Internal Reference Number with SAP, in Joint Venture Operations;

Depreciation Rate and Method with SAP, in Joint Venture Operations;

Nominal Account Numbers with SAP, in Joint Venture Operations;

Location of the Asset with SAP, in Joint Venture Operations;

Department Using the Asset with SAP, in Joint Venture Operations;

Insurance Detail with SAP, in Joint Venture Operations;

Date of Disposal with SAP, in Joint Venture Operations;

Gains/Losses on Disposal with SAP, in Joint Venture Operations;

Partner’s Share with SAP, in Joint Venture Operations;

Production Sharing Agreement/Contract (PSA/PSC) with SAP, in Joint Venture Operations;

Payments in Production Sharing Agreement/Contract with SAP, in Joint Venture Operations;

Joint Venture/Joint Interest Audits and Reports with SAP, in Joint Venture Operations;

Operating Agreement and AFE with SAP, in Joint Venture Operations;

Minutes of Operator’s Meeting with SAP, in Joint Venture Operations;

Company Labour with SAP, in Joint Venture Operations;

Materials and Services Purchased Externally with SAP, in Joint Venture Operations;

Materials and Supplies Transferred to or from the Operation with SAP, in Joint Venture Operations;

Warehousing with SAP, in Joint Venture Operations;

Overhead with SAP, in Joint Venture Operations;

Services and Facilities with SAP, in Joint Venture Operations;

Capital and Maintenance Jobs with SAP, in Joint Venture Operations;

Taxes and Insurance with SAP, in Joint Venture Operations;

Allocation of Income and Expenditures with SAP, in Joint Venture Operations;

Capital Assets with SAP, in Joint Venture Operations.

Part 9 - SAP and Joint Venture Accounting – General Ledger/ Master Record

General Ledger Master Record with SAP, in Joint Venture Operations;

Chart of Accounts Data with SAP, in Joint Venture Operations;

Creating a Master Record Centrally with SAP, in Joint Venture Operations;

Creating a Master Record Step by Step with SAP, in Joint Venture Operations;

Creating a Master Record – Reference with SAP, in Joint Venture Operations;

G/L Account Master Record with SAP, in Joint Venture Operations;

G/L Account Master Record – Chart of Accounts Segment with SAP, in Joint Venture Operations;

G/L Account Master Record – Account Group with SAP, in Joint Venture Operations;

G/L Account Master Record – Company Code Segment Field Status with SAP, in Joint Venture Operations;

Field Status Screen Layout Link Rules with SAP, in Joint Venture Operations;

Example of Field Status Definition with SAP, in Joint Venture Operations;

Translating the Name of G/L Accounts with SAP, in Joint Venture Operations;

G/L Account Master Record – Company Code Segment with SAP, in Joint Venture Operations;

G/L Account Currency with SAP, in Joint Venture Operations;

Mass Maintenance with SAP, in Joint Venture Operations;

Blocking a Master Record with SAP, in Joint Venture Operations;

Marking a Record for Deletion with SAP, in Joint Venture Operations;

Part 10 - SAP Closing with SAP, in Joint Venture Operations;

Closing with SAP, in Joint Venture Operations;

System Requirements for Closing with SAP, in Joint Venture Operations;

Period Closing with SAP, in Joint Venture Operations;

Pre-Closing Activities with SAP, in Joint Venture Operations;

Financial Closing with SAP, in Joint Venture Operations;

Foreign Currency Valuation with SAP, in Joint Venture Operations;

Clearing a Receivable/Payable with an Exchange Rate Difference with SAP, in Joint Venture Operations;

Revaluing Balance Sheet Accounts Managed in Foreign Currency with SAP, in Joint Venture Operations;

Valuation Method with SAP, in Joint Venture Operations;

Valuation of Open Item with SAP, in Joint Venture Operations;

Foreign Currency Valuation of Open Items with SAP, in Joint Venture Operations;

Flat Rate Value Adjustment with SAP, in Joint Venture Operations;

Flat Rate Value Adjustment Base Amount with SAP, in Joint Venture Operations;

Discounting with SAP, in Joint Venture Operations;

Discounting and Flat Rate Adjustment Steps with SAP, in Joint Venture Operations;

GR/IR Account Allocation with SAP, in Joint Venture Operations;

Financial Accounting Comparative Analysis with SAP, in Joint Venture Operations;

End of Period Reporting with SAP, in Joint Venture Operations;

Year End Closing with SAP, in Joint Venture Operations;

Automatic Line Items (Balance Carried Forward) with SAP, in Joint Venture Operations;

Managerial Closing with SAP, in Joint Venture Operations.

Part 11 - SAP Sales Cycle and Documents

Sales Cycle with SAP, in Joint Venture Operations;

Sales Documents with SAP, in Joint Venture Operations;

Inquiry with SAP, in Joint Venture Operations;

Quotation with SAP, in Joint Venture Operations;

Sales Order with SAP, in Joint Venture Operations;

Credit & Debit Memo Requests with SAP, in Joint Venture Operations;

Generating Delivery Note with SAP, in Joint Venture Operations;

Generating Goods Received Inward Note (GRIN) with SAP, in Joint Venture Operations;

Goods Issue with SAP, in Joint Venture Operations;

Billing Document with SAP, in Joint Venture Operations;

Incoming Payment with SAP, in Joint Venture Operations;

Accounts Receivable in the Sales Cycle with SAP, in Joint Venture Operations;

Part 12 - Managing Sales and Accounts Receivables, with SAP, for Joint Venture Operations

Raising a Sales Invoice, with SAP, for Joint Venture Operations;

Mapping Correct Accounts to Sales Invoice, with SAP, for Joint Venture Operations;

Managing Accounts Receivable, with SAP, for Joint Venture Operations;

Customer Database Maintenance, with SAP, for Joint Venture Operations;

Conducting Historical Analysis, with SAP, for Joint Venture Operations;

Approval Lines for Sales invoices, with SAP, for Joint Venture Operations;

Recording Sales from Invoices, with SAP, for Joint Venture Operations.

Part 13 - Purchases and Accounts Payable, with SAP, for Joint Venture Operations

SAP Contract Formulation: An Overview

Formulating Contract Terms, with SAP, for Joint Venture Operations;

Incorporating, with SAP, for Joint Venture Operations;

Accounting for Taxes, with SAP, for Joint Venture Operations;

Mapping Purchase Orders to Contracts, with SAP, for Joint Venture Operations;

Purchase Order Approval Process, with SAP, for Joint Venture Operations;

Mapping Purchase Order to Cost Ledger Accounts, with SAP, for Joint Venture Operations;

Setting Up Payment Terms in SAP, with SAP, for Joint Venture Operations;

Establishing ‘System Prompt’ for ‘Payment Run’, with SAP, for Joint Venture Operations.

Part 14 - Joint Venture Accounting in SAP

Cut Back Process, for Joint Venture Operation, in SAP;

Partners share, for Joint Venture Operation, in SAP;

Billable and Recoverable, for Joint Venture Operation, in SAP;

Authorisation for Expenditure (AFE), for Joint Venture Operation, in SAP;

Billable and Non-Recoverable, for Joint Venture Operation, in SAP;

Non-Billable and Non-Recoverable, for Joint Venture Operation, in SAP;

Implementing Joint Venture accounting agreements within the SAP system;

Account Reconciliation, for Joint Venture Operation, in SAP;

Generating Joint Venture Reports, for Joint Venture Operation, in SAP.

Part 15 - Project Accounting in SAP

Cost Centre and Resource Codes Set Up, for Joint Venture Operation, in SAP;

Mapping GL Accounts to Cost Centre and Resource Codes for Joint Venture Operation, in SAP;

GL Accounts to Roll Up to Correct Cost Headings for Joint Venture Operation, in SAP;

Map Cost Centres and/or Resource Codes to Projects, for Joint Venture Operation, in SAP;

Identifying All Project Costs via Cost Centres or Resource Codes, for Joint Venture Operation, in SAP;

Report Generation along Project Lines, for Joint Venture Operation, in SAP;

Generate Profit and Loss Account by Projects, for Joint Venture Operation, in SAP;

Establishing Project Reports That Can Be Understood by Project Managers, for Joint Venture Operation, in SAP;

Maintaining an Asset Register on SAP, in Joint Venture Petroleum – Oil and Gas – Accounting.

Course or Seminar Number 107 - SAP and Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation Seminar or Course, Leading to Diploma – Postgraduate – in SAP and Joint Venture Accounting, for Joint Venture Petroleum – Oil and Gas – Operation (Double-Credit).