18. settembre 2019 - 9:00
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Budgeting Process, Forecasting, Capital Expenditure and AFE Controls: Istanbul | | mercoledì, 18. settembre 2019

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