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A lot of small businesses are quite comfortable with their accounting systems and have no need for higher-end financials.
If, however, you happen to be a part of the oil and gas industry that needs to monitor petroleum and natural gas royalties, then ‘Shut-the-front-door,’ because you require some heavy duty tracking, reporting, and just plain good accounting procedures.
We at Asyma Energy think it’s best if you think twice about using a DIY approach to your accounting, or assuming that the nephew who just graduated from college can handle the so-called ‘simple stuff.’
We think it’s time for you to consider graduating to a Calgary accounting firm steeped in professionalism and experienced in servicing your industry – and who can offer the benefits of Sage Canada (formerly known as Simply Accounting) software.
Provincial Reporting Standards
Of course, our team of trained accountants makes certain all of your reporting follows provincial reporting regulations and, if you’re considering entering into a joint venture for that one-time big project, we can provide the joint venture accounting you’ll need, including budgeting and cash forecasting.
Sage Canada: Back-Office and C-Level reports
Sage Canada provides their clients with the latest software benefits: from basic data entry to tracking job and unit costs, and field ticketing. Their dynamic management solutions will make even the most senior staff member smile.
What’s more, Sage Canada delivers streamlined financial reports and can combine data from more than one company or location – idea for your joint venture operation or for branch office setups.
The demand for accurate accounting and reporting in the oil/gas industry will continue to require both a short-term and long-term capabilities, which Sage Canada also offers.ada delivers streamlined financial reports and can combine data from more than one company or location – idea for your joint venture operation or for branch office setups.
International Financial Reporting Standards (IFRS) from Generally Accepted Accounting Principles (GAAP)
Inconsistencies in financial reporting exist because the standards and requirements vary by country. The GAAP’s guidelines are complex and attempt to establish rules and criteria for every possible contingency whereas the IFRS defines ‘good reporting’ and then provides guidance on how to use good reporting in any given situation. GAAP will soon merge with IFRS and the updated system will allow Sage Canada to provide only the best real-time financials available.
