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A company wants to make sure enough cash is available for upcoming payments. What Treasury activity is used?
Cash flow - Treasury forecasts future cash movements to make sure the company has enough liquidity to meet upcoming obligations.
What process takes place at the end of the month to finalize financial results?
Monthly closing
What is used to request project funding from oil project partners?
Cash call
The Finance Department is working through multiple initiatives as part of a long-term transformation plan. What is this journey called?
The journey towards 2027
A contractor is bidding for a project and must provide financial assurance during the tender stage. What instrument is used?
Bid bonds
Which measure compares operating expenditure with production volume?
Opex pre barrel
What process allocates actual shared project costs between oil project partners?
Joint interest billing (JIB)
A tool is used by Finance leadership to monitor whether these initiatives and departmental objectives are progressing as planned?
KPI
An expense appears in the accounting records, but tax rules do not allow it to reduce taxable income. What happens to that expense for tax purposes?
It is treated as a non-deductible expense and added back when calculating taxable income.
A contractor completed work in August, but the invoice will only arrive in September. If the cost is not recorded in August, what problem would this create?
August expenses would be understated, so an accrual should be recorded.
A partner is entitled to 100,000 barrels but actually lifts 112,000 barrels. What is the position, and by how much?
Overlift of 12,000 barrels
If the consultant invoice is available but the timesheet is missing, what issue could this create in the PR process?
Finance would not have complete supporting evidence for the service provided, so the request may need to be held until the missing documentation is provided.