Course Description
Since the early 1970s, oil revenues have transformed the Arabian Gulf region into a modern sophisticated industrialized economy. Crude oil exports, which are the preserve of the Arabian Gulf region, remain the mainstay of economic activity. Oil and Gas accounting is concerned with the models and concepts that together form the foundation and practice of financial and cost accounting utilizing successful efforts and full costs accounting methods. Ascertainments of exploration, acquisition, development and production costs are the backbone of this course. The second part covers the accounting measurement and recognition of the revenue from oil and gas activities. The financial statement analysis, international operation and disclosure practices formed the final part of the course.