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Institute For Oil & Gas Training
OGI-1218 New

Consolidation & JV Structures for Multi-Country Groups Training Course

Duration
5 days
CPD hours
15
Language
English
Next date
12 Oct 2026
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Overview

The Consolidation & JV Structures for Multi-Country Groups Training Course from Institute For Oil & Gas Training develops the practical capabilities required to manage complex group reporting, joint venture accounting and cross-border petroleum structures. The course focuses on Consolidation & JV Structures across multi-country oil and gas groups, where diverse legal entities, ownership arrangements, currencies, joint operating models and reporting requirements create significant accounting and governance challenges.

Oil and gas organisations frequently operate through parent companies, subsidiaries, branches, holding company structures, unincorporated joint ventures, incorporated joint ventures and special purpose vehicle arrangements. These structures support international investment, field development, production operations, financing and risk allocation, but they also create demanding accounting requirements. Finance teams need a clear understanding of control, joint control, significant influence, ownership interests, group reporting and the distinction between statutory versus group reporting.

The course addresses the operational skills required to bring financial information from multiple jurisdictions into a coherent group reporting framework. Participants examine how group structures affect consolidation decisions, how accounting information moves between operating entities and parent companies, and how consolidation adjustments are developed and controlled. The programme also addresses functional currency determination, translation of foreign operations, intercompany balances, intra-group transactions and foreign exchange effects.

For petroleum businesses, the accounting implications of joint ventures extend beyond basic ownership percentages. An unincorporated joint venture can create direct accounting responsibilities for participants, while an incorporated arrangement can involve different reporting and consolidation considerations. Special purpose vehicle structures introduce additional questions around control, economic substance, reporting responsibilities and the relationship between legal ownership and accounting treatment.

Institute For Oil & Gas Training positions these issues within the wider petroleum accounting environment. The course connects corporate structures with financial reporting processes, management reporting, statutory reporting, partner reporting and governance. Participants develop a practical framework for assessing how transactions and entity relationships should be reflected in consolidated financial information.

Multi-country groups also face currency complexities. Functional currency determination establishes the appropriate primary economic environment for financial reporting, while the translation of foreign operations requires disciplined treatment when results are incorporated into group accounts. Exchange differences, intra-group balances and consolidation adjustments require consistent procedures across jurisdictions.

The programme therefore focuses on decision-making rather than theoretical accounting discussion. Participants work through realistic oil and gas scenarios involving parent companies, subsidiaries, joint ventures, foreign operations, intercompany transactions and complex ownership structures. The approach strengthens the ability of finance professionals to interpret group structures, identify reporting implications and maintain consistency across the consolidation process.

The course is designed for organisations seeking stronger control over group reporting and petroleum accounting across multiple jurisdictions. It supports finance teams responsible for producing reliable consolidated information, reviewing joint venture reporting, managing foreign subsidiaries, coordinating reporting packages and resolving differences between local statutory accounts and group reporting requirements.

By completing the programme, participants gain a structured understanding of how multi-country corporate structures influence financial reporting. They develop practical techniques for analysing ownership and control, preparing consolidation adjustments, managing foreign currency translation and evaluating reporting requirements associated with joint venture and special purpose vehicle structures.

Objectives

  • Understand the accounting implications of complex multi-country oil and gas group structures

  • Analyse parent company, subsidiary, holding company and special purpose vehicle arrangements

  • Evaluate control, joint control and significant influence in corporate and joint venture structures

  • Distinguish between incorporated and unincorporated joint venture arrangements

  • Apply appropriate principles when assessing Consolidation & JV Structures

  • Understand the relationship between legal ownership and financial reporting requirements

  • Develop practical approaches to preparing consolidation adjustments

  • Manage intercompany balances and intra-group transactions within consolidated reporting

  • Understand functional currency determination for entities operating across different jurisdictions

  • Apply appropriate principles to the translation of foreign operations

  • Recognise the financial reporting implications of foreign exchange movements

  • Distinguish statutory versus group reporting requirements

  • Improve the quality and consistency of group reporting packages

  • Strengthen review procedures for subsidiary and joint venture financial information

  • Identify reporting risks arising from complex holding company structures

  • Improve coordination between group finance teams and operating entities

  • Strengthen the analysis of special purpose vehicle structures within group reporting

  • Support more consistent financial reporting across multi-country operations

  • Improve the identification and resolution of consolidation differences

  • Develop stronger professional judgement when reviewing group accounting structures

  • Enhance governance over multi-entity petroleum accounting and reporting processes

Training methodology

Institute For Oil & Gas Training uses a practical, business-focused delivery model suited to experienced oil and gas professionals. The training combines technical explanation with case studies, group exercises, reporting scenarios and practical analysis of multi-country group structures.

Case Studies

Participants analyse realistic petroleum group structures involving parent entities, subsidiaries, holding companies and joint ventures. Each case focuses on the accounting consequences of different ownership and control arrangements.

Consolidation Simulations

Practical consolidation exercises demonstrate how individual entity results move into group reporting. Participants examine trial balances, intra-group balances, ownership interests and consolidation adjustments before evaluating the resulting group position.

Joint Venture Scenarios

Participants assess different joint venture structures and consider how contractual rights, ownership arrangements and operating responsibilities affect financial reporting. Scenarios cover unincorporated joint venture arrangements and other common petroleum operating models.

Foreign Operations Exercises

The programme includes practical exercises covering functional currency determination and the translation of foreign operations. Participants work through foreign subsidiary reporting scenarios and examine the treatment of exchange differences within group reporting.

Group Reporting Workshops

Participants work through reporting issues arising from differences between statutory versus group reporting. Exercises focus on reporting packages, accounting policy alignment, intercompany reconciliation and consolidation review procedures.

Peer Discussion

Group discussion enables participants to compare approaches to complex reporting issues across different organisational structures. This strengthens professional judgement and encourages consistent decision-making within finance and accounting teams.

Organisational impact

The course strengthens the organisation's ability to manage financial reporting across complex international structures. A consistent understanding of Consolidation & JV Structures supports better coordination between group finance, subsidiary finance teams, joint venture accounting teams and corporate reporting functions.

Improved consolidation processes reduce avoidable reporting differences between operating entities and group finance. Teams gain a clearer framework for identifying intercompany balances, reviewing reporting packages and preparing appropriate consolidation adjustments.

The programme also improves visibility over joint venture accounting arrangements. Organisations gain stronger internal capability to assess reporting requirements associated with unincorporated joint venture structures, incorporated entities and special purpose vehicle arrangements.

Greater consistency in functional currency determination and the translation of foreign operations supports more reliable group reporting. Finance teams become better equipped to identify currency-related reporting issues before they affect consolidated results.

The course also strengthens the distinction between statutory versus group reporting. Local entities frequently prepare accounts according to jurisdiction-specific requirements, while the parent company applies group accounting policies. Understanding this distinction helps finance teams identify required reporting adjustments and avoid confusion between local and group accounting treatments.

Improved knowledge of holding company structures also supports stronger corporate reporting governance. Finance teams can trace reporting relationships through different layers of ownership and understand how transactions between entities affect the wider group.

From an efficiency perspective, the programme supports more structured reporting procedures. Standardised approaches to reporting packages, consolidation reviews and intercompany reconciliation reduce duplication and improve communication between reporting teams.

The course also contributes to stronger governance. Clearer understanding of control, joint control, ownership interests and reporting responsibilities helps organisations assign appropriate accountability across group entities and joint venture arrangements.

For multinational oil and gas businesses, these capabilities support more dependable management information and more disciplined financial reporting across jurisdictions. The result is a stronger foundation for corporate decision-making, financial review, audit coordination and group reporting governance.

Personal impact

Participants develop practical expertise in analysing multi-country group structures and understanding their financial reporting implications. This capability strengthens their effectiveness in group accounting, petroleum finance and corporate reporting roles.

The programme improves participants' ability to interpret complex ownership structures and identify the reporting relationship between parent companies, subsidiaries, joint ventures and special purpose vehicles.

Participants also strengthen their consolidation skills. They learn how to identify information required from operating entities, review reporting data and assess the adjustments required to produce consistent group information.

Knowledge of functional currency determination and the translation of foreign operations gives participants stronger capabilities when working with international subsidiaries and foreign branches. They become better equipped to identify currency-related reporting issues and communicate their implications to senior finance colleagues.

The course also improves participants' ability to distinguish statutory reporting from group reporting. This is particularly valuable for professionals working with international subsidiaries where local accounting requirements differ from the accounting policies applied by the parent organisation.

Participants gain stronger analytical skills for reviewing joint venture reporting. They learn to examine the nature of contractual arrangements, ownership structures and reporting responsibilities rather than relying solely on legal form.

The programme also strengthens professional judgement. Participants learn to ask the right structural and accounting questions when assessing complex group arrangements, which supports more effective review and escalation of reporting issues.

These capabilities enhance performance in roles involving group consolidation, petroleum accounting, joint venture accounting, financial control, corporate reporting, management reporting and international finance. They also provide a stronger foundation for progression into senior accounting and finance management responsibilities.

Who should attend

  • Group Financial Controllers — To strengthen oversight of consolidation processes and reporting across international subsidiaries and joint ventures.

  • Petroleum Accountants — To improve practical understanding of complex group structures and petroleum joint venture accounting.

  • Joint Venture Accountants — To strengthen analysis of joint venture reporting requirements and partner accounting information.

  • Financial Reporting Managers — To improve control over group reporting packages, consolidation adjustments and reporting consistency.

  • Senior Accountants — To develop advanced capability in multi-entity reporting and foreign operation accounting.

  • Finance Managers — To strengthen financial governance across subsidiaries, holding companies and joint venture structures.

  • Corporate Reporting Professionals — To improve the integration of statutory information into group reporting processes.

  • Financial Controllers — To enhance control over consolidation, intercompany reconciliation and reporting review procedures.

  • Treasury and Finance Professionals — To understand the currency and entity structure issues affecting consolidated financial information.

  • Internal Audit Professionals — To strengthen review of consolidation controls, group reporting processes and entity relationships.

  • Management Accountants — To improve understanding of how multi-country structures affect management and group reporting.

  • Chief Accountant and Deputy Chief Accountant Roles — To strengthen technical oversight of complex accounting structures and reporting processes.

  • Finance Directors and Heads of Finance — To enhance strategic oversight of group accounting, joint venture reporting and international financial governance.

  • Professionals Supporting Corporate Restructuring — To assess the financial reporting implications of holding company structures and special purpose vehicles.

  • Oil and Gas Finance Professionals — To develop specialised knowledge relevant to international petroleum group reporting.

Course outline

This module establishes the foundation for understanding how international oil and gas groups are structured and how those structures influence financial reporting. It examines parent entities, subsidiaries, holding company structures and special purpose vehicle arrangements, with emphasis on identifying control and reporting relationships.

  1. IFRS 10 Consolidated Financial Statements

    • Establishes principles for determining when an entity controls another entity

    • Provides the basis for identifying entities that form part of a consolidated group

    • Supports consistent assessment of control across complex ownership structures

    • Provides principles relevant to consolidated financial statements

    Learning Outcomes

    • Analyse complex multi-country group structures

    • Identify relevant parent and subsidiary relationships

    • Assess control for consolidation purposes

    • Recognise reporting implications of holding company structures

    • Evaluate the role of special purpose vehicle arrangements

    • Understand the purpose and application of consolidation adjustments

This module focuses on joint venture accounting structures commonly encountered in oil and gas operations. It examines contractual arrangements, joint control, unincorporated joint venture structures and the distinction between different forms of joint arrangements.

  1. IFRS 11 Joint Arrangements

    • Establishes principles for classifying joint arrangements

    • Distinguishes joint operations from joint ventures

    • Focuses on rights and obligations arising from contractual arrangements

    • Provides guidance for accounting for interests in joint arrangements

    Learning Outcomes

    • Distinguish different forms of joint arrangements

    • Understand the accounting implications of an unincorporated joint venture

    • Assess the significance of contractual rights and obligations

    • Review joint venture reporting information effectively

    • Identify reporting requirements arising from joint control

    • Improve consistency in joint venture accounting reviews

This module addresses the currency challenges associated with international oil and gas groups. It focuses on functional currency determination, foreign subsidiary reporting and the translation of foreign operations into the group's presentation currency.

  1. IAS 21 Foreign Exchange Effects

    • Provides principles for foreign currency transactions and foreign operations

    • Establishes requirements for determining functional currency

    • Addresses translation of foreign operations

    • Provides guidance on exchange differences arising from translation

    Learning Outcomes

    • Apply a structured approach to functional currency determination

    • Understand the accounting implications of foreign operations

    • Review the translation of foreign operations into group reporting

    • Identify currency-related consolidation issues

    • Assess exchange differences within consolidated reporting

    • Strengthen controls over foreign currency reporting data

This module develops practical capability in converting entity-level reporting information into reliable group reporting. It examines statutory versus group reporting, accounting policy alignment, intercompany balances and consolidation adjustments.

  1. IAS 28 Investments

    • Provides principles for accounting for investments in associates and joint ventures

    • Addresses the equity method for relevant investments

    • Supports assessment of significant influence and joint venture interests

    • Provides a recognised framework for reporting certain investment relationships

    Learning Outcomes

    • Distinguish statutory reporting from group reporting requirements

    • Identify common intercompany reporting differences

    • Prepare and review consolidation adjustments

    • Strengthen intercompany reconciliation processes

    • Understand the reporting implications of associates and joint ventures

    • Improve the quality of group reporting packages

The final module integrates the principles covered throughout the programme into a complete multi-country reporting scenario. Participants examine how group structures, joint ventures, foreign operations, currency matters and reporting adjustments interact within a consolidated reporting environment.

  1. IFRS 12 Disclosure Interests

    • Establishes disclosure requirements for interests in subsidiaries, joint arrangements and associates

    • Improves transparency around the nature of interests held by reporting entities

    • Provides information about significant judgements relating to interests in other entities

    • Supports clearer communication of group structure and associated risks

    Learning Outcomes

    • Integrate consolidation principles across complex multi-country structures

    • Evaluate reporting implications across subsidiaries and joint ventures

    • Review the combined impact of foreign currency and consolidation requirements

    • Identify inconsistencies between statutory and group reporting

    • Strengthen governance over group reporting processes

    • Improve review of disclosures relating to interests in other entities

    • Apply a structured approach to complex Consolidation & JV Structures

    • Develop stronger professional judgement when reviewing multi-country petroleum accounting arrangements

Certificate

Attendees who successfully complete the course receive a Certificate of Completion from Institute For Oil & Gas Training. The certificate confirms participation in the programme and completion of the required course attendance.

Participants are required to attend the course as scheduled and complete the required learning activities to receive the Certificate of Completion.

Course dates

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,200

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,200

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,200

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,200

Fees include tuition, course materials and refreshments. Need different dates or a different city? Ask about your preferred date.

Frequently asked questions

Who is this course designed for?

The course is designed for finance, accounting and reporting professionals working in oil and gas organisations with subsidiaries, joint ventures or international operations. It is particularly relevant to group accountants, financial controllers, petroleum accountants, joint venture accountants, finance managers and corporate reporting professionals.

What does the course cover?

The programme covers Consolidation & JV Structures, multi-country group reporting, unincorporated joint venture arrangements, special purpose vehicles, functional currency determination, translation of foreign operations, consolidation adjustments and statutory versus group reporting.

How is the course delivered?

Institute For Oil & Gas Training uses practical case studies, consolidation simulations, group exercises, joint venture scenarios, foreign operation exercises and reporting workshops. The delivery focuses on applying accounting principles to realistic oil and gas business situations.

What standards are addressed during the course?

The programme addresses IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IAS 21 Foreign Exchange Effects, IAS 28 Investments and IFRS 12 Disclosure Interests. These standards are considered in relation to the relevant multi-country group and petroleum accounting scenarios.

What will participants gain from completing the course?

Participants gain stronger practical capability in analysing group structures, reviewing joint venture reporting, managing foreign operation information, preparing consolidation adjustments and distinguishing statutory versus group reporting. They also receive a Certificate of Completion from Institute For Oil & Gas Training upon meeting the attendance requirement.

Next: 12 Oct 2026

4 dates available

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