Accounting Matters Federal Energy Regulatory Commission

Accounting Matters Federal Energy Regulatory Commission

Benefit from responsive service that tailors to your organization’s needs. Boost back-office efficiency, streamlining revenue or settlement distribution to operators and interest owners with financial systems. Transition between solutions effortlessly with smooth integrations within the Upstream On Demand Suite’s Production Operations. Information is considered material if its omission or misstatement could influence the economic decisions of users. To view a notice describing federal equal opportunity and pay transparency laws, please click here. The nature and frequency of the above working conditions and requirements may vary depending on individual operational circumstances.

• Financial statements should include all necessary information to ensure that users can make informed decisions.
• Join hydrocarbon gathering and processing companies of all sizes who trust the industry’s standardized solution of over two decades.
• She has really enjoyed working with different clients and creating the different setups they need.
• It enables companies to assess project viability, allocate resources efficiently, and make strategic decisions that contribute to long-term success in the industry.
• I have experienced some really good training and mentoring, and some not-so-great.
• When there are conflicts between different accounting principles or methods, a hierarchy exists to guide the selection of the most appropriate principle.
• When that company moved out of state, she worked for a few different companies doing revenue and inventory accounting, but she was not excited about what I was doing.

Basics of Midstream – Gathering, Treating, Compressing and Delivery

Stakeholders rely on financial statements to assess the financial health of oil and gas companies. Proper accounting practices build trust among investors, regulators, and the public, fostering confidence in the industry. Oil and gas companies need to adhere oil and gas accounting to specific regulatory and tax reporting requirements, and their financial reporting has to comply with industry standards and guidelines. These requirements vary widely from state to state, and it’s important to have a system that can support these requirements and make compliance a breeze. Companies are bought, sold, and relocated – which leads to changes in work for some people, including myself.

• I also enjoy working with our clients to ensure that the results match their expectations.
• Ownership of our projects as if they were our own; we consider resources, cost, benefits, relationships, and long-term impacts.
• Provides basic account descriptions and accounting definitions that are useful in understanding the information reported in the Annual Report Form No. 6 and Quarterly Report Form No. 6-Q.
• Leverage over 20 years of development and a commitment to continued investment and innovation.
• All oil and gas companies are expected to stay current with the latest accounting standards to ensure compliance with U.S.
• Accelerate your business with asset requirements met out-of-the-box with unparalleled depth and hundreds of standard business rules complemented by highly intuitive formula builders.

Services

The professionals at Martindale Consultants know industry knowledge and resources are key components of successful projects. See our Resources page for various COPAS and other resources that joint venture auditors or oil and gas accountants will use. Maximize productivity and profitability with comprehensive transaction management.

Gain True End-to-End Midstream Integrations with One Vendor

PetroLedger provides comprehensive transactional outsourcing to help energy companies get more value out net sales of their back office. Understanding the complex measurements, contracts, allocations, and valuations requires the right people and the right systems. In this whitepaper, you can learn how to drive long-term success with an outsourced accounting solution. Optimize gas gathering, processing, and plant accounting workflows with My Quorum TIPS, the first cloud-based solution offering comprehensive industry solutions. Enhance efficiency, improve end-to-end transactional visibility, and minimize risk with a system created for the midstream industry. PetroLedger’s plant accounting team is highly skilled and understands the complexities that are involved, and we can help navigate the challenges and complexities of gas plant accounting.

Easily access data on gas flows and manage the entire allocation and settlement process. Your whole team can attend at a discounted rate and learn not only the basics https://x.com/bookstimeinc of midstream accounting but also the deeper issues affecting this vital function. Efficiently manage purchase, marketing, and gathering contracts with workflow tools and automated delivery. Leverage the industry’s most adopted and proven allocation engine for gas and NGLs.

Upcoming Events

Provide necessary operational and tax reports to regulators, ensuring compliance. Support for filing severance tax reporting requirements across 8 states and the ONRR. Join hydrocarbon gathering and processing companies of all sizes who trust the industry’s standardized solution of over two decades. Discover an intuitive, adaptive platform designed for flexible, seamless handling of exceptions. With PetroLedger, you get a team of accounting veterans who understand your business and goals.

Streamline Your Financial Operations.

Mr. Hodgson also currently serving on the COPAS APA Board of Examiners and serves as the Chair of the COPAS Midstream/Downstream Subcommittee. Dan Hodgson works to assist management in making significant sound decisions and to raise the standard of Gas Plant and NGL accounting by leading and passing on knowledge and understanding. Harrison is very involved with the University of Tulsa, where he earned a degree in MIS and Accounting. When there are conflicts between different accounting principles or methods, a hierarchy exists to guide the selection of the most appropriate principle. The hierarchy includes authoritative guidance from standard-setting bodies.