Introduction to Financial Reporting for the Petroleum Industry

Course Overview
This course is currently only offered as an in-house course. For more information or to request a proposal, please fill out a request form.

This one-day course will provide participants with an introduction to the practical aspects of financial reporting in general, and of the petroleum industry in particular. Starting with a basic overview of Generally Accepted Accounting Principles (GAAP), participants will then be exposed to the more specific elements of financial reporting pertinent to the petroleum industry, supplemented by examples of actual petroleum industry financial disclosures.

A complete set of course materials and lunches are included.

All scheduled event(s) for this short course:
Date: TBA
Course Syllabus
Download course syllabus
Course Outline
  • Introduction - Accounting
  • The Economic Realities of Business
  • Financial Reporting - Basic Statements
  • Accounting Policies and Notes
  • Understanding Financial Statements
  • Internal Controls and Budgets
  • Public Company Reporting

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David Milholm has over 20 years of Senior Financial and Accounting experience in the Oil & Gas and Mining sectors. He has assumed primary corporate responsibility for Financial Reporting, Budgeting, Strategic Planning, Financial Modeling, Project Management, and both Capital and Debt Financing. His corporate energy affiliations involved Exploration & Development, Gas Processing, and Interstate & Intrastate Pipelines. David earned his BSBA in Accounting from Colorado State University, his MSBA in Finance from the University of Denver and became CPA during his tenure at PricewaterhouseCoopers. David now serves Vice-President and General Manager for Vaughey and Vaughey, LLC; a private oil company located in Denver, Colorado.

Training Venue

To avoid potential course disruptions caused by the attendance of unconfirmed registrants, the training venue address will ONLY be provided to registrants upon receipt of payment (via an email confirmation note).

Participant Evaluations
Average participant rating 3.5 out of 5 stars
27 participant evaluations
Very Good
Very Poor
All course reviews are unedited.
June 11, 2015, Account Administrator, Calgary
This training was very useful to get an overview of reporting in the petroleum industry. It was especially helpful to review a current financial report of one of the large Canadian oil companies.
October 20, 2014, Engineer, Houston
Good but should have been better.
June 27, 2014, Senior Exploitation Engineer, Calgary
Very good basic intro to financial reporting, but subject matter and course material is more directed at SEC/American regulations.
November 18, 2013, System Software Specialist, Calgary
Don't take this if you are expecting a true basic 'Introduction...'. Considerable financial accounting knowledge a must.