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 […] Read More
Where do I account for Hedging Transactions?
Where do I account for Hedging Transactions? It's complicated. Read More
E&P Estimating for Accrued Revenue and Related Expenses
By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner In the world of oil and gas, we know that production cash receipts and income tend to lag a month or two (or sometimes three) behind when the […] Read More
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 […] Read More
Get Back in the Game: E&P Financial Reporting
Financial statements are often required for E&P companies to obtain financing or enter into credit facilities. This blog post is the first in a series to identify common reporting questions for oil & gas accounting. Read More
“App-solutely” Helpful QuickBooks Apps
By Sarah Yost, Senior Accountant and QuickBooks Online ProAdvisor Heavy QuickBooks users, or those in a specialized industry, know that while the bookkeeping software giant has become much more user-friendly over the years, there are still limitations. Despite the challenges, QuickBooks is […] Read More
Hall, Kistler & Company: Oil and Gas Accounting Overview
By Andy Griffin, CPA, Supervisor Recently Mike Eberhart (also of Hall Kistler) and I were asked to present a webinar entitled “Overview of Oil and Gas Accounting.” The webinar was part of a series of oil and gas webinars sponsored […] Read More