Events

Deloitte Energy & Resources Training Seminars

Knowledge is power

​Our training seminars have provided useful and timely knowledge to over 10,000 participants. The learning programs are custom-designed to anticipate the current needs and interests of energy industry personnel. These seminars are conducted solely at the request of the organization and are sponsored by the organization.

Utility tax

The utility tax training seminars can be tailored from the two, one-day programs, or to what is necessary to meet your company needs. Subject matter specialists will come on-site to focus on your chosen topics and issues to meet the specific needs of the company participants, in terms of time and content.

Utility industry book/tax differences

  • Compares and contrasts federal income tax rules and the rules for financial and regulatory accounting purposes related to revenue and expense recognition and capitalization
  • Provides overview of tax rules, including relevant statutes, regulations, rulings, and case law specific to the electric and gas industry
  • Provides overview of tax guidance applicable to all industries, but of particular significance to the utility industry

Financial reporting for income taxes: Rate-regulated utilities

  • Describes issues in applying Income Taxes, Topic 740, to rate-regulated utilities, including the additional rules under Regulated Operations, Topic 980
  • Summarizes the IRS normalization requirements
  • Covers the impact of deregulation
  • FERC-GAAP reporting differences involving income taxes

For more information or to schedule this seminar at your company, please contact: USEnergyTaxSeminars@deloitte.com

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Utility tax training seminars

ERM for utilities

This seminar, which a company exclusively sponsors and schedules for its employees, is designed to provide participants with an overview of the principles of enterprise risk management (ERM) and the unique challenges with the application of ERM within the utility industry. The seminar focuses on understanding the building blocks of risk management within today’s environment and related strategies needed to fit into an enterprise’s overall risk program. Deloitte brings together industry professionals to promote effective employment of ERM principles in the utility industry and to illustrate the value proposition supporting ERM implementation. The program will evaluate successful ERM strategies relevant to electric and gas utility industry professionals, provide opportunities for attendees to discuss opportunities and challenges with ERM implementation, and assess emerging trends and leading practices of the participants.

For more information or to schedule this seminar at your company, please contact: DeloitteCenterForEnergySolutions@DELOITTE.com

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Enterprise risk management (ERM) for utilities programs

IFRS for oil and gas

Most oil and gas companies have significant international operations, multiple regulatory and capital market considerations, complex organizational structures (often including multiple subsidiaries and joint venture relationships), and global competitors who may already be reporting under IFRS. This training is developed to address issues that are not only unique to the industry but specific to a company. The training can be modified in length and coverage of topics, and can range from a two-hour session to a full-day session, or more. An individual oil and gas company would exclusively pay for this training which could be tailored for management, the controller's organization, or other functional or operational employees and is intended to provide a basic understanding of IFRS in the oil and gas industry by sector (e.g. upstream, midstream, and downstream) including selected technical accounting challenges. This training will be facilitated by subject matter specialists and cover selected topics: property, plant and equipment, exploration and development costs, impairments, inventories, derivative accounting, leases and asset retirement obligations, among others.

For more information or to schedule this seminar at your company, please contact: USOilandGasIFRS@deloitte.com

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International financial reporting standards (IFRS) – Technical accounting for oil and gas companies

IFRS for power and utilities

This seminar, which a company exclusively sponsors and schedules for its employees, is intended to provide key IFRS accounting principles and practical considerations related to IFRS implementation. Specifically designed for accounting and finance professionals in power and utility companies, Deloitte IFRS specialists will deliver course sessions that address important technical accounting changes, tax considerations, and processes and systems questions. Prepare for the IFRS journey by enhancing your company’s understanding of the standards and deepening your capabilities to address complex IFRS issues. This seminar can be modified in length and tailored to an individual company’s specific needs.

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International financial reporting standards (IRFS) – Technical accounting for power and utilities companies

Intro to regulated utilities

This seminar, which a company exclusively sponsors and schedules for its employees, is intended to provide a basic understanding of the regulated utility business and a foundation for developing additional industry expertise. Subject matter specialists will cover three major topics: electric and gas utility operations, traditional utility ratemaking concepts, and utility industry accounting and financial reporting.

The first topic addresses the economic characteristics of utility companies and provides an introduction to electric and gas utility operations and concepts. The utility ratemaking topic provides an overview of the history of regulation in the United States and the current regulatory environment. Illustrations and case studies are used to understand the traditional ratemaking formula and its three components, rate base, rate of return and allowable operating expenses that are utilized to develop a utility’s revenue requirement, and rates charged to customers. The final topic covers the specialized industry accounting and financial reporting regulations and requirements followed by rate-regulated utilities. The unique aspects of utility financial statements, including uniform system of accounts, affiliate standards and transactions, and guidelines for cost allocations are discussed. Finally, the use of energy contracts and derivatives by utilities and the related risks are addressed.

This seminar is applicable to accountants and auditors with benefits to operating personnel in a company’s accounting, financial, regulatory, and auditing areas. It has been designed with two days of presentations, case studies, illustrations, and group discussions. The seminar can be tailored to meet the specific needs of a company’s participants in terms of time and content.

For more information or to schedule this seminar at your company, please contact: Bill Graf at wgraf@deloitte.com or 312.486.2673

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Introduction to regulated utilities

Ratemaking for utilities

This seminar, which a company exclusively sponsors and schedules for its employees, provides participants with an understanding of utility regulation and the traditional utility ratemaking process and related concepts. Topics covered in the seminar include overviews of the economic characteristics of utilities, the history of regulation in the United States, the rate case process, and the traditional ratemaking formula and its three components: rate base, rate of return, and allowable operating expenses, including income taxes. The underlying concepts of each component are extensively discussed and illustrated in connection with developing the overall revenue requirements for a utility. Seminar participants will apply these and other concepts as they work through a case study to prepare a rate case filing package. Additional topics covered include the allocation of cost of service and rate design as well as other issues of importance in the rate case process such as affiliate transactions, depreciation, and cost allocations.

This seminar is directed towards utility employees, including accountants, engineers, attorneys, and others. It has been designed with two to three days of presentations, illustrations, and group discussions, supplemented with related individual problem-solving and a case study. However, the time and focus can be reduced or expanded to meet a company’s specific schedule and interests.

For more information or to schedule this seminar at your company, please contact: Bill Graf at wgraf@deloitte.com or 312.486.2673

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Ratemaking for utilities

Intro to exploration and production

This seminar, which a company exclusively sponsors and schedules for its employees, is intended to provide a basic understanding of the business of an exploration and production (E&P) company and a foundation for developing additional oil and gas industry expertise. Subject matter specialists will cover six major sectors of the E&P business (the “Well Life Cycle”): exploration, prospect development, drilling and completion, sales and marketing, well maintenance, and well plug and abandon. Key components of each of these include:

  • Exploration - the role of geologists and geophysicists, conceptualizing opportunities and developing a focus on a particular area, the related economics, and some of the commonly utilized tools
  • Prospect development - an overview of prospects, and the various aspects that go into prospect development, such as: geology, geophysics, cost, economics, leasing land, and prospect inventory management
  • Drilling and completion - preparing, drilling, completing, and producing a well; charging owners
  • Sales and marketing - what to sell, revenue distribution, and gas marketing
  • Well maintenance - factors involved in the well meeting production goals and affiliated preventative maintenance; on-going operating cost
  • Well plug and abandon - activities required and carried out when a well can no longer produce hydrocarbons economically.

The seminar will include a discussion about the organization of a typical E&P company, including: job descriptions, activities/processes, terminology, transactions, and issues. It will prepare participants to knowledgeably analyze and discuss E&P issues and themes. The course materials will also serve as an excellent reference for participants to ensure they can periodically refresh their familiarity with the subject.

This course is generally directed towards participants within oil and gas companies who want to increase their fundamental knowledge of E&P, but can also be of value to individuals working in firms that are tangentially associated with the oil and gas industry where an understanding of E&P would be beneficial. It has been designed to encompass one day of presentations, illustrations, applications, and group discussions. The course can be tailored to meet the specific needs of a company’s participants in terms of time and content.

For more information or to schedule this seminar at your company, please contact: Tim Martin at timmartin@deloitte.com or 713.982.4754

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Introduction to exploration and production (E&P)