Tag Archives: GAAP
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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Andy Griffin, CPA

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 …

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