Training Details
- The crude oil production industry: its characteristics and implications for the nature of the costing system.
- Basic concepts in cost accounting.
- Behavioral analysis of costs and cost functions.
- Costing system in the crude oil production industry: objectives and components.
- Methods of accounting for the costs of oil production.
- Cost problems in the crude oil production industry:
- Expenses of exploration, research and exploration.
- Expenses of drilling and developing wells.
- Revenue expenditures for production.
- Shared costs and their distribution using:
- British thermal unit method.
- Atomic weight - other methods
- Accounting for cost components:
- Documentary collection and documentary cycle
- Application problems.
- Recent trends in petroleum cost accounting.
- Cost control in the oil production industry and its performance evaluation:
- Using standard costs
- Using estimated costs.
- Using target costs.
- Practical cases.