Oil and Gas Accounting

Are you a sole proprietor? Are you an oil and gas investor? Owner of a royalty trust or a mineral interest? No matter what market segment of the oil and gas industry you work in, the oil and gas business not only have high initial capital requirements, but it also faces unusually complicated regulatory and tax obligations. These difficulties are amplified by the tremendous uncertainty surrounding the future impact of geopolitical, environmental, and new regulations. Epsilon Outsourced Oil and Gas Accounting Services can help companies navigate these complexities and ensure compliance with the latest industrial regulations.

Oil and Gas Tax Reporting and Compliance

Tax reporting for oil and gas can be a further complication, depending on how the accounting is reported. And this can become a larger part of the overhead costs in the oil and gas industry. To minimize risks and potential penalties, companies must maintain accurate and up-to-date tax records.

The good news is that Epsilon Accounting Solutions is here to help. Our job as your trusted advisor is to assist you in remaining competitive. We’ll work with you to streamline your accounting procedures and processes as well as identify opportunities that help you improve your bottom line by reducing operational costs and managing your facilities more cost-effectively. Contact us today to schedule a consultation and see how our advisor can benefit your business.

Our Services

Our Oil and Gas CPA will outline financial solutions that will provide assurance for your company in the following areas:

Tax Services

• Tax planning strategies
• Sales and use tax
• Research and Development Tax Credit
• Tax compliance and planning
  • Purchases and sales
  • Acquisition
  • Leases and subleases
  • GST/HST compliance
• Audit Services
  • Financial statement audits, reviews, and compilations
  • Advice and guidance on accounting and financial reporting
  • Internal controls
  • Financial projections and forecasts
  • Monthly, quarterly, and year-end accounting
• Consulting
  • Structuring and re-organization of corporations, partnerships, and joint ventures
  • Representation with federal and provincial tax authorities
  • Analyzing areas for automation
  • Implementing cloud-based solutions
  • Training staff on new software and procedures
  • Outsourced accounting and CFO services
  • State and federal economic incentives
  • Business advisory services
  • Mergers and acquisitions
  • Business Valuation
  • Exit Strategies
• Payroll

Call: (405) 642-0908 Book a Consultation

Oil and Gas Accounting Management

We understand that running a business is your top priority, but it may be hindered by all those accounts payable and balance sheet calculations. At Epsilon Accounting Solutions, PLLC, we take that stress off your shoulders so you can focus on your oil and gas company. From managing payroll to conducting thorough business valuations, we offer a wide range of solutions to help streamline your financial operations. With our expertise in mergers and acquisitions, we can also assist you in navigating complex transactions and developing effective exit strategies. Call today to get started!

Frequently Asked Questions (FAQs)

In order to meet the demands of a wide range of challenges, oil and gas companies require accounting that incorporates sound judgment. Here are questions and answers on oil and gas accounting:

Why do I need outsourced accounting?

Outsourced accounting can provide numerous benefits for oil and gas companies. It allows you to access specialized expertise and industry knowledge, ensuring accurate financial reporting and compliance with regulatory requirements. Epsilon Accounting Solutions offers outsourced accounting and bookkeeping services specifically tailored to the needs of oil and gas companies. With our assistance, you can streamline your financial processes, minimize risks, and make informed decisions that drive your company’s success.

When does it make sense to start outsourcing?

It makes sense to start outsourcing oil and gas accounting when your company is experiencing rapid growth or expansion and the demands of managing financial operations become overwhelming. Epsilon Accounting Solutions can help alleviate the burden by providing expert oil and gas CPAs who are well-versed in the unique challenges and complexities of the oil and gas industry.

How do I get started with your oil and gas accounting services?

To get started with client accounting services, simply reach out to Epsilon Accounting Solutions and schedule a consultation. During this consultation, our team of CPAs will assess your specific needs and goals and build an accounting solution that aligns with your business objectives. From there, we will work closely with you to seamlessly integrate our services into your existing financial processes, ensuring a smooth transition and ongoing support.

Your Reliable Oil and Gas CPA firm

Epsilon Accounting Solutions provides you with dependable, cost-effective solutions to reduce your overhead and effort spent managing day-to-day accounting tasks. With decades of oil and gas industry experience, we work with you to develop a customized plan to meet your business needs and maximize profits.

Interested in getting started with us? Simply fill out the contact form below and learn more about Epsilon outsourced oil and gas accounting services. It’s that easy!

Call: (405) 642-0908 Book a Consultation