COVID 19 Tax Updates

The most recent action by the Treasury extending the tax filing deadline from April 15 to July 15 has provided much-needed relief from compliance matters. It has allowed CPA’s to focus on much more and pertinent issues facing small businesses. […]

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How do Footnotes and Disclosures Expand My Numbers?

One significant but often overlooked part of GAAP-compliant financial statements are the footnotes and disclosures that accompany the numbers. It’s easy to ignore these when you are in a rush to “see how the year went” and “see how much […]

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Why You Need a Reserve Report

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner“Do I really need to spend money to have an engineer prepare a reserve report for me?” As an oil and gas producer, you may have asked this question […]

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What's This Asset Retirement Obligation I Keep Hearing About?

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner As we’ve described previously, one of the components of “getting back in the game” for small independent E&P companies is producing financial statements that are compliant with Generally Accepted Accounting […]

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Family Business Succession Planning

I’m often asked by my clients, “How do I transition my company to the next generation?”. In order for a succession to be successful, it needs to work for both parties. Clients are advised early in our business relationship about […]

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