Andy Griffin, CPA

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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Andy Griffin, CPA

Where do I account for Hedging Transactions?

Risk management is an important part of any business, especially in the oil and gas industry. Because oil and gas is a commodity, one significant risk that oil and gas producers have to deal with is the risk related to …

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Andy Griffin, CPA

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 …

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2018 Kiddie Tax on Child’s Unearned Income May Be Higher

By Sandra Orcutt, EA, Supervisor

Although the so-called “kiddie tax” will be easier to calculate thanks to the Tax Cuts and Jobs Act (TCJA) of 2017, the unearned income of eligible children (or grandchildren) could be taxed at a higher …

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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 …

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