The job duties of an oil & gas accountant focus on financial record keeping and the preparation of financial reports for companies in the oil and gas industry. You also perform financial calculations specifically related to the industry.

What responsibilities do accountants have?

Roles and Responsibilities Ensuring the accuracy of financial documents, as well as their compliance with relevant laws and regulations. Preparing and maintaining important financial reports. Preparing tax returns and ensuring that taxes are paid properly and on time.

Can accountants give financial advice?

Unless your accountant has an AFSL (and some do), they cannot provide advice about financial products. Albertini says that without an AFSL, an accountant cannot advise a client to establish an SMSF, but can help administer it as long as the client has received separate independent advice from a financial planner.

What is the earning potential for a CPA in the oil and gas industry?

2016 NOC: Financial auditors and accountants (1111)…Southern Alberta Institute of Technology.

Why should I hire an accountant?

An accountant can help you handle growth transitions, such as hiring employees or taking on more office space. They’ll look after the detail (payroll, employee tax management, property tax, utility payments and so on), leaving you free to look at the bigger picture of the way your business is growing.

What is oil and gas production accounting?

Oil and Gas Production Accounting teaches the basics of petroleum production accounting and how they relate to the petroleum industry. Oil and gas production accountants are responsible for compiling, managing and reporting financial and production data for the oil and gas industry.

What is the earning potential for a CPA in the oil and gas industry in Canada?

CPAs in mining, and oil and gas led most sectors with mean averages of $194,000 and $203,000, respectively. Statistics Canada estimates average yearly earnings in Canada in 2013 to be about $47,000.