MBA 7203

Oil And Gas Accounting

Course ID
MBA 7203
4 CU

Module Overview

For decades, the education system in Uganda has provided accounting training for several Sectors. Little attention has been focused on specialized industries such as the petroleum industry. With the discovery of Oil in Uganda, the need to specialized skills in petroleum Accounting has increased drastically. Therefore in  a move to meet this ever increasing demand, the Uganda Institute of Petroleum Studies has introduced petroleum accounting. 

This course is designed to introduce students to the fundamentals of oil and gas accounting, different accounting principles and procedures prevalent in the petroleum industry and accounting framework of petroleum industry.

How you study

Lectures, Group discussions and Tutorials

Course Works – 60%
Written Examination – 40%
Total – 100%

Learning Outcomes

At the end of this course students should be able to:

i) Develop an understanding of the nature and historical development of oil and gas accounting.

ii) Develop an understanding of the basic characteristics and differences between the downstream and the upstream sectors and their activities.

iii) Develop an understanding of accounting for exploration, ditching, and development costs.

iv) Develop an understanding of petroleum products pricing, accounting standards and financial statement disclosures in the oil and gas industry.

Mode of Delivery

• Lecture
• Demonstration
• Project Work
• Discussions


• Two written examinations OR
• 30% in-semester assignments
• 30% one hour mid-semester exam
• 40% three-hour end-of-semester exams