Finance and Economics:

FFC01S | Finance for Non- Financials

Course Objectives:

To understand fundamentals of finance.

To learn how to read and analyze financial statements.
To have a better decision making based on financial data.
To understand budgeting process within their organizations.

Course Contents:
-

What is Finance and how to use Financial Information?

Basic Financial Statements:
o Balance sheet
o Income statement
o Statement of cash flows
o Statement of changes in owners equity
Basic Financial Analysis:
o Efficiency of asset management
o Profitability
o Liquidity
Budgeting Process
Case Studies

Who Should Attend:

Senior Business Executives, Strategic and Business Development Planners and nonfinancial Managers who wish to refresh their understanding and improve their
financial management knowledge.
Employees whose work has a direct impact on financial management.

Course Duration: 5 Days

Dates:

30/8/2015

29/11/2015

27/3/2016

Finance and Economics:

FFC02S | Petroleum Agreements
Course Objectives:

To understand the fundamentals of production sharing regime as the major type

being applied in Egypt.
To verify and optimize the efficiency of follow-up of different agreements.
To know how to improve negotiation skills and drafting process of the
production sharing agreements.
To facilitate and improve the evaluation process of different bids.

Course Contents:

Fundamental differences between various agreements.

Basic aspects of production sharing agreements and influence of the state
company and investor on carrying out different operations.
Award procedures of production sharing agreements, technical and financial
evaluation criteria and also risk assessment of each asset.
Description of the main features of Egyptian production sharing agreements.
Audit concepts and justification for considering different costs incurred by
investor.
How to judge work program and budget proposed by investor or joint operating
co.
How to resolve the dispute issues, if any.

Who Should Attend:

Geologists, geophysicists, auditors, financials, lawyers and concerned administrators as well as
middle level managers and decision makers.
Course Duration: 5 Days
Dates:

25/10/2015

7/2/2016

Finance and Economics:

FFC03S | International Financial Reporting Standards- IFRS
Course Objectives:
To identify different formats and contents of the balance sheet and income statement.
To state the importance of an accurate valuation of inventory.
To state and account for different types of investment in financial instruments.
To identify various models of accounting for property, plant & equipment.
To recognize different forms of business combinations and prepare consolidated
financial statements.
To report the effects of temporary differences between IFRS & IRS in the balance
sheet and income statement.

Course Contents:
IFRS Conceptual Framework
Financial Statements Presentation
Presentation of Assets and Liabilities
Recognition of revenue and expenses
Income statement presentation
Fixed Assets recognition and Valuation
Impairment test
Inventory Reporting
Investment with no significant influence
Investment in associate
Investment in Joint Ventures
Investment in subsidiaries and consolidated financial statements
Current and deferred income tax.
Who Should Attend:
Accountants and auditors who wish to acquire an understanding of the IFRS.
Course Duration: 5 Days
Dates:

8/11/2015

10/4/2016

Finance and Economics:

FFC04S | Cost Accounting and Allocation Cycles in Oil & Gas Companies
Course Objectives:

To identify various types of costs and cost classifications.

To explore the cost accounting systems and allocation of costs.
To know how to monitor and control costs.
To understand the cost recovery systems according to the kind of agreements.
To understand indirect cost allocation methods used.

Course Contents:

Nature of Oil Industry

Oil agreements
Establishment of joint venture oil agreements
Production Sharing Production Split
Divisions of the oil sector
Introduction to Management Accounting and Control
Classification of Costs
Cost accounting systems
Distinguish between Capital costs & Operating expenses
Assets Classification according to usage
Cost Allocation Systems
Allocation of service departments indirect common costs
Criteria used to allocate costs
Allocating cost between Oil & Gas
Responsibility Centers and Transfer Pricing
Balanced Scorecard

Who Should Attend:

Cost accountants and seniors, middle management level.

Course Duration: 5 Days

Dates:

13/12/2015

3/4/2016

Finance and Economics:

FFC05S | Petroleum Finance and Accounting Principles
Course Objectives:

To apply basic concepts and terminology for accounting and finance in oil and gas.
To distinguish between financial and managerial accounting.
To recognize the different oil and gas accounting methods.
To understand financial reporting requirements for oil and gas companies.
To apply capitalization rules and depreciation methods.
To recognize accounting treatments of joint ventures.

Course Contents:

Resposibilities of Finance Department

Accounting rules and policies and reporting standards
Comparative Analysis of Financial Statements
Bgudets
Authorizations for Expenditure (AFE)
Service Request Management
Invoice process and payment approvals
Cash management
Expense reports
Fixed Assets

Who Should Attend:

Cost accountants and seniors, middle management level.

Course Duration: 5 Days

Dates:

23/8/2015

27/12/2015

6/3/2016

Finance and Economics:

FFC06S | Wells and Projects Under Construction Accounting
Course Objectives:

To identify the accounting standards which govern the recording process in the books,
especially in the implementation phases and establishment of oil wells of various types.
To understand the role of the cost recovery system in the oil & gas sector and the
related impact on the accounting procedures between the partners.
To identify the rules that govern the life cycle of the wells in the oil sector.

Course Contents:

Accounting in oil companies & international accounting standards applied.

Account for natural resources.
Concept of the life cycle of wells in the oil sector.
Wells types and their relationship to the cost recovery system.
Accounting treatment for the life cycle of wells in the oil sector.
Drilling, Development, Repair and Completion of the Well.
Full Cost Accounting for Exploratory and Development Well Costs.
Clearing Costs of Completed Drilling Wells.
AFE System for Drilling and Development.
Concept of the life cycle of projects under construction in the oil sector.
Accounting treatment for stages of life cycle of projects under construction.
Costs and Conditions requiring an Appropriation, collective Appropriation or
Supplemental Appropriation / Costs not requiring an appropriation.
Capitalization Cost for appropriation.
Account for specifically identifiable intangible assets.
Depreciation, Depletion and Amortization (D.D.&A)
Accounting for the Impairment of Long-Lived Assets overview

Who Should Attend:

Accountants & department heads in the financial and budget management.

Accountants in the accounts of operations and accounts of projects & wells.

Course Duration: 5 Days

Dates:

15/11/2015

13/3/2016

Finance and Economics:

FFC07S | Managerial Accounting for Decision Making
Course Objectives:

To aquire an understanding of the fundamentals of Managerial Accounting and

Decision Making in petroleum companies.
To develop practical experience of how to take operational and investment
decisions based on the managerial accounting reports.

Course Contents:

Fundamentals of Managerial Accounting

Managerial Accounting analysis tools:
o Cost-Volume-Profit Analysis
o Profit Planning, Activity-Based Budgeting
Managerial Accounting practices:
o Cost Analysis for Pricing Decision Making.
o Transfer Pricing Decision Making.
o Incremental Analysis and Decision Making
o Capital Budging and Decisions Making.
o Evaluate capital investment.
Petroleum Case Studies

Who Should Attend:

Senior business executives.

Strategic and busines development planners.
Non-financial managers.

Course Duration: 5 Days

Dates:

6/12/2015

15/5/2016

Finance and Economics:

FFC08S | Budgeting and Cost Control- Basic
Course Objectives:

To have an overview of the company business plan, mission, vision, goals &
strategies as a preliminary required step to budget preparation.
To understand the nature of budgets.
To identify scientific principles as a basis for effective budgeting .
To acquire an introduction to the responsibility accounting and its relationship
with budget preparation.
To know the cost estimating methods / tools used for better budgeting.
To know how to prepare master budget.

Course Contents:

Budgets; Definitions, Types, Principles & Objectives

Define the master budget and explain its major benefits to an organization
Cost estimates Methods; Actual Cost, Standard Costs & Breakeven Analysis
Capital budget : choosing potential projects
Operating budget; Direct expenses, Administration expense & General services
budget
Budget feedback reporting system & performance evaluation
From costing to budget: interpreting variances
Describe the difference between a static budget and a flexible budget
Target costing and transfer pricing
Linking process development to costing
Introduction to responsibility accounting
Decentralized organizations
Cost/Profit/Investment centers
Linkages with performance evaluation
Problems, Case study and Examples

Who Should Attend:

Accountants & technical personnel dealing with budget preparation & cost control
areas.

Course Duration: 4 Days

Dates:

14/9/2015

15/2/2016

Finance and Economics:

FFC09S | Budgeting and Cost Control- Advanced New!
Course Objectives:
To describe the companys business plan, mission, vision, goals and strategies - as a
required step to budget preparation.
To identify scientific principles as basis for effective budgeting.
To explain how a budget committee follows top management's philosophy in using
either an imposed budgeting or a participative budgeting approach.
To describe how the coordination and communication required in the budgeting
process help an organization achieve goal congruence.
To describe how help budgets organizations avoid failure by forcing managers to deal
with uncertainties.
To be able to communicate budgetary information more effectively.
To recognize importance of effective preparation in establishing realistic budgets.
To improve ability and confidence in preparing and controlling budgets.

Course Contents:
SWOT analysis as an entrance to strategic planning
PEST & EL complementary analysis requirements
Different types of budgets , purposes and limitations
Activity-Based Budgeting
What is Activity-Based Management?
Performance-Based Budgeting
The role of PBB in the process of monitoring, evaluating
Kaizen: What does it mean?
Kaizen Budgeting (KB)
Be more confident in making informed financial decisions
Capital Budgeting , investment decisions : choosing potential projects
Characteristics of a good budget reporting system
Determine when a budget should be revised during the year
The constructive approach in dealing with variances
Management by exception
Overview of variances.
Identify significant variances
Integrate continuous improvement into variance analysis

Who Should Attend:

Financial managers, finance controllers, treasurers and inventory managers.
Senior managers with a direct responsibility for financial management and control.
Any manager, at a medium and senior level , who is a part of the financial decision making
team.

Course Duration: 4 Days

Dates:

2/11/2015

9/5/2016

Finance and Economics:

FFC10S | Financial Analysis and Performance Evaluation
Course Objectives:

To develop practical experience of how to prepare financial statements.

To acquire an understanding of financial performance evaluation for petroleum
corporate.
To have their financial analysis and evaluation capabilities enhanced.

Course Contents:

Capital Structure for the firm and weighted average cost of capital
Financial information and the basic financial statements
Cash flow statement; direct and indirect method
Ratios analysis, liquidity and activity ratios
Profitability, risk and market ratios

Who Should Attend:

Senior business executives, strategic and business development planners and financial
managers who wish to refresh their understanding and enhance their skills in
preparation of financial statement and financial analysis.
Employees whose work has a direct impact on the financial analysis and evaluation.

Course Duration: 5 Days

Dates:

18/10/2015

17/1/2016

Finance and Economics:

FFC11S | Economic Evaluation and Feasibility Study for Petroleum Projects - Basic
Course Objectives:

To be able to read and identify economic feasibility study.

To realize methods of economic evaluation and core components of feasibility
study.

Course Contents:

Principles of economics.
Introduction to Evaluating Capital Project
Capital Projects Budget.
Estimation of project total installed capital cost, working capital and total
product cost
Main objectives of feasibility study
Core components/ studies of the economic feasibility study:
o Market issues, environmental issues, legal issues
o Technical and organizational requirements.
o Financial overview.
o Factors affecting economic feasibility studies.
o Financial ratios and economic criteria.

Who Should Attend:

Managers, practising engineers, geologists and chemists with at least 5 years of

experience.
Economists, procurement & supply chain personnel and accountants with at least 7
years of experience.

Course Duration: 3 Days

Dates:

8/9/2015

31/1/2016

Finance and Economics:

FFC12S | Economic Evaluation and Feasibility Study for Petroleum Projects - Advanced
Course Objectives:

To be able to prepare economic feasibility study.

To identify factors affecting feasibility study and sensitivity analysis.

Course Contents:

Assumption based: Certain data, uncertain data, Risks and Sensitivity analysis
Financial overview, Cost of capital, Loan calculation, financial structure and
WACC.
Before tax economic evaluation and selection methods for mutually and nonmutually exclusive project alternatives
Risks Management.
After tax cash flow concept and economic evaluation analysis of alternatives.
Investment Decision making support.
Practical case for a new project feasibility study & sensitivity analysis.
Workshop for a new case study (Financial modeling).

Who Should Attend:

Managers, practicing engineers, geologists and chemists with at least 5 years of

experience.
Economists, procurement & supply chain personnel and accountants with at least 7
years of experience.
Nominees should have attended course of "Economic Evaluation and Feasibility Study
for Petroleum Projects- Basic "

Course Duration: 4 Days

Dates:

7/12/2015

30/5/2016

Finance and Economics:

FFC13S | Internal Control and Auditing
Course Objectives:

To understand internal control objectives, models and types

To identify board and management responsibilities with respect to Internal
control.
To study examples of safeguarding controls.
To be able to describe the role of internal audit regarding internal control
To understand role and scope of internal auditing and professional standards.
To understand ethics standards of internal auditors.
To identify relationship of internal audit with other units in the organization.
To identify the reporting lines with senior management and the board.
To understand co-ordination between internal and external audit.

Course Contents:

The Framework of Internal control

Control environment/ Control procedures
Risk management
Information and communication system
Follow up process
Fraud prevention and Detection
Internal audit definition / Internal audit charter
The Function of the Internal Audit in the Reinforcement of Internal Control
Independence and objectivity of internal audit
Proficiency of internal auditors
Managing the internal audit
Nature of internal audit work in evaluating governance, risk and control
Planning and Performing the engagement
Reporting and Follow up
Internal audit code of ethics

Who Should Attend:

Internal audit staff and managers.

Finance staff and managers.

Course Duration: 5 Days

Dates:

27/12/2015

28/2/2016

Finance and Economics:

FFC14S | !New
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21/2/2016

18/10/2015

Dates:

Finance and Economics:

FFC15S | !New
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8/3/2016

10/11/2015

Dates:

Finance and Economics:

FFC16S | !New
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26/4/2016

20/12/2015

Dates:

Finance and Economics:

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13/12/2015

9/8/2015

Dates:

Finance and Economics:

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20/3/2016

11/10/2015

Dates:

Finance and Economics:

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15/5/2016

22/11/2015

Dates:

Finance and Economics:

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2/5/2016

16/11/2015

Dates:

Finance and Economics:

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22/5/2016

15/11/2015

Dates:

Finance and Economics:

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27/3/2016

25/10/2015

Dates:

Finance and Economics:

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10/1/2016

16/8/2015

Dates:

Insurance:
FIN01S | Risk Management and Insurance in Petroleum Industry
Course Objectives:

To understand aspects of risk management and insurance.

To understand value creation and asset protection.
To identify financial and economic characteristics of potential exposures to loss.
To understand the Due diligence principle as a certain standard of care and how
apply to voluntary investigations.
To learn the Legal & Technical Insurance Principles and how to apply in the
Petroleum Companies.
To identify techniques available for hedging the risks and minimizing the costs
associated with potential exposures.

Course Contents:

Introduction to theory of oil formation and oil production activities

Comprehensive review on risks involved in oil production activities
Definition of Risk
The classification of Risks
Steps in the Risk Management Process
Insurance Information Sources
The Fundamental Insurance Principles
Main types of Insurance Policies covering companys operations
Main types of Insurance Requirements covering contracts activity
Insurance Pricing
Overview on the Insurance Market and the Reinsurance Business.
The meaning of claims and how to prepare correctly
Indemnity Agreement and Insurance Regulation
Case studies

Who Should Attend:

Anyone employed in the oil industry and concerned with Risk management and
Insurance.

Course Duration: 5 Days

Dates:

1/11/2015

20/3/2016

Insurance:
FIN02S | FIDIC Basics and Claim Management New!
Course Objectives:
To get introduced to FIDIC and to know how to manage and control claims.
Course Contents:

Construction Industry & legal Background:

o Risk Identification & Evaluation.
o Risk Management Process.
o What is the Construction Project?
o Types of Industry Sectors
o Fundamentals of project management.
o legal Background of the contract
o Contract Administration skills
o Legal responsibilities and liabilities according to the Contract
o The difference between contract types & How to select a contract form?
o Recognize Claim mistakes before they occur
FIDIC
o What is FIDIC ?
o History of FIDIC.
o Types of standard forms of contracts issued by FIDIC& their main features
o How to build an effective claims management strategy
o How to control your claim cost
o Claim Management.
o Clauses required notice by the Contractor
o The Resolution of Disputes
o Principles Governing the DAB (Dispute Adjudication Board).
Main types of Insurance Policies covering Construction Project:
o Construction All Risk insurance ( CAR )
o Liability & professional Insurance
o Case Studies

Who Should Attend:

Civil engineers

Course Duration: 3 Days

Dates:

20/12/2015

3/5/2016