Oil & Gas Accounting Project

Make this research paper for student level (undergraduate level UG).

Project Title: Assessment of Risk Management Strategies in Saudi Arabian Oil and Gas Accounting

ACCT 3331 : Accounting for Extractive Industries
Class Project Outline, Deadlines, and Grading Rubric = 20% of Final Grade
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Topic
Scores
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Selection of Project’s Title
Pick a topic that is related to Oil and Gas Accounting in Saudi Arabia.
Part I: Introduction Include:
(a) State what you want to write on
(b) State your research questions
(c) State your research methods
Part II: Literature Review (library or internet search)
1. The history of the topic that you chose.
2. State the importance of the topic
3. Review and summarize not less than 25 published papers or articles
on the topic chosen; in the last 5 years (preferably the most up to date
journals)
Part III: Methodology and Outcomes
(a) Choose the methodology that you would like to use
(b) Describe the way that you intend to approach the research
question(s) and the techniques and logic that you will use to
address it. This should include the ways in which you will gather
data and the research plan including the research design,
experimental procedures and statistical analysis.
Part IV: Data Analysis – Explain your data collected in item #4
1. the researchers will need to explain and justify if they were about to
use specific software to assist them in analyzing the data – SPSS,
Excel, NVivo and alike
2. it is normal for researcher to provide table or diagram which tells
how the research questions and hypotheses were addressed – in the
table the researcher normally will align their research questions with
type of analyses to be used
Part V: Conclusion – (Summary of the project)
1. State your views on the analysis.
Part VI: References
Project Submission’s due date is Monday, April 15th , 2024
Submit paper’s slides power point on April 17th, 2024
In Final Exams questions on your project
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6%
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6%
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Proposal: Assessment of Risk Management Strategies in Saudi Arabian Oil and Gas
Accounting
Name
Affiliation
Course
Tutor
Date
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Introduction
Saudi Arabia’s oil and gas sector is vital to the nation’s economy, making a substantial
contribution to both the GDP and the world’s energy supply. However, there are hazards
associated with operating in this industry, including price fluctuations, regulatory changes, and
geopolitical instability. For Saudi Arabia’s oil and gas accounting procedures to remain stable and
sustainable, effective risk management techniques are crucial. The purpose of this proposal is to
examine and evaluate the risk management techniques now used by businesses in the oil and gas
industry in Saudi Arabia, with particular emphasis on their accounting procedures.
Objectives
1. To determine the main risks that businesses in Saudi Arabia’s oil and gas industry must
deal with.
2. To examine the current risk management plans that these businesses have put in place,
especially regarding accounting.
3. To assess how well the present methods of risk management are working to reduce the
hazards that have been identified.
4. To make suggestions for improving risk management techniques used in Saudi
accounting for oil and gas.
Research Hypothesis
The hypothesis is that the financial performance of Saudi Arabian oil and gas businesses
is positively correlated with the application of strong risk management measures. We
anticipate that businesses with thorough risk management plans designed to meet the
difficulties faced by the sector will be more resilient to outside shocks and volatility, which
will enhance their financial stability and profitability.
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Methodology
To gather systematic statistics, this research will utilise a mixed-methods tactic that
intergrates qualitative and quantitative approaches. Semi-structured interviews with
important stakeholders, such as finance managers, risk management experts, and auditors,
will comprise the qualitative component. The purpose of the interviews is to obtain their
viewpoints on risk management procedures in oil and gas accounting. In order to give the
study a theoretical framework and background context, a comprehensive evaluation of
pertinent literature, including scholarly journals, industry reports, and government
publications, will also be carried out. The examination of financial information and risk
management measures from the annual reports and financial statements of particular Saudi
Arabian oil and gas enterprises will constitute the quantitative component.
Expected Outcomes
The goal of this study is to add to the body of knowledge already available on risk
management in the oil and gas sector, with a focus on Saudi Arabia. The study aims to offer
significant insights for industry practitioners, policymakers, and researchers by identifying
the primary risks and assessing existing risk management solutions. It is anticipated that the
suggested guidelines for improving risk management procedures in oil and gas accounting
will help Saudi Arabian businesses successfully navigate the intricate and ever-changing risk
environment that is part of their line of business.
Conclusion
In conclusion, considering the importance of the oil and gas industry to the nation’s
economy, evaluating risk management techniques in Saudi Arabian oil and gas accounting is
an important undertaking. The goal is to promote greater stability, resilience, and
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sustainability in Saudi Arabia’s oil and gas accounting procedures. To that end, the hope is to
shed light on the industry’s current practices, possibilities, and problems in risk management.
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References
Al Mhdawi, M. K. (2020). Proposed risk management decision support methodology for oil and
gas construction projects. In The 10th International Conference on Engineering, Project,
and Production Management (pp. 407-420). Springer Singapore.
http://dx.doi.org/10.1007/978-981-15-1910-9_34
Alfaqiri, A., Hossain, N. U. I., Jaradat, R., Abutabenjeh, S., Keating, C. B., Khasawneh, M. T., &
Pinto, C. A. (2019). A systemic approach for disruption risk assessment in oil and gas
supply chains. International Journal of Critical Infrastructures, 15(3), 230-259.
https://www.researchgate.net/publication/331212044_A_systemic_approach_for_disrupti
on_risk_assessment_in_oil_and_gas_supply_chains