Search results for:
No result found! Try with different keywords!
Advertisement

Budgeting Process, Forecasting, Capital Expenditure and AFE Controls: Istanbul

Advertisement

Budgeting Process, Forecasting, Capital Expenditure and AFE Controls: Istanbul


Course overview

The course provides a comprehensive overview of capital expenditure and authorisation for expenditure (AFE). Participants will learn how to execute an AFE and deal with any problems that might arise. They will also learn about AFEs in financial systems, and what to consider when setting up AFEs in a computerized accounting system.

The course is designed for


Personnel within the industry involved in financial/commercial and accounting responsibilities

Asset Manager


Course outline

Authorisation for Expenditure (AFE)

What is an AFEThe three main functions of an AFERelationship between budgets and AFEsAFEs as an important control for oil and gas accounting - commitmentsWhen is an AFE required - establishing an AFE policy

Executing an AFE

Executing an AFE – the preparation and authorisation processDesigning an AFE form –key requirementsReporting of AFE Activities at AFE Level

How to deal with AFE Problems

Loading opening balances (changing to a new AFE system)When to close an AFE and how to deal with post-closing entriesHow to deal with AFEs that roll over from one year to the nextAFEs and buying materials and supplies for inventoryHow to deal with over / under expenditure against an AFETax information and AFEs – tangible / intangible splitDifferent joint venture partnership splits within one AFE

Using AFEs in financial systems

Establishing an AFE code structureRecording expenditures against an AFEAccumulation of AFE actuals in the General LedgerAFE reporting requirements - management, internal / functional reporting and joint ventureAFE cost allocation amongst joint venture partners

Considerations when setting up AFEs in a computerized accounting system

Garbage in, garbage out - chart of accounts validation set upSetting up an AFE to record expenditure – using look-up tablesSetting up expense codesSample AFE management report - summarySample AFE internal / functional reporting - detailSample AFE joint venture reporting - owner presentation/cash call reporting

Practical Workshop

Preparing an AFE for an onshore exploration wellPlanning an AFE strategy for a field developmentEvaluating an Exploration Well AFE for approvalEvaluating a Seismic Acquisition AFE for approval


"The knowledge obtained from this course will definitely be applied to my job." - NCOC, Kazakhstan



Tags
Map Istanbul, Turkey
Event details from Report a problem

Are you going to this event?

Advertisement

More Events in Istanbul

Explore More Events in Istanbul