Course Description
The training methodology combines lectures, discussions,
group exercises and illustrations. Participants will gain
both theoretical and practical knowledge of the topics. The
emphasis is on the practical application of the topics and
as a result participant will go back to the workplace with
both the ability and the confidence to apply the techniques
learned to their duties.
Course Contents
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Basic accounting techniques
-
Computer based accounting
systems
-
Fundamentals of oil and gas
operations
-
Peculiarities of oil and gas
accounting for the upstream and downstream industry
workers
-
Accounting standards in the
petroleum in dustry: upstream activities (SAS14)
-
Accounting standards in the
petroleum industry: downstream activities (SAS17)
-
Published accounts in the oil
and gas sector
-
Introduction to petroleum
taxation in Nigeria
-
Basic provisions of petroleum
profit tax Act 1959 (CAP 354 Laws of the Federation of
Nigeria 1990), Petroleum Act,
-
Memorandum of Understanding
(MOU)
-
Important issues in Corporate
taxation in the oil and gas sector i.e. returns,
assessment, deductibility of expenses, incentive for
utilization of associated gas, ascertainment and
adjustment of profits, treatment of losses, chargeable
tax, offenses and penalties, treatment of compensation to
oil producing communities, capital allowances, exchange
losses and central bank commission etc.
- PAYE
-
Knotty issues in VAT and WHT
-
Emerging trends and future
challenges
