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Business Management and Process Consulting Blog

Does Your Accountant Know the Buzz Words?

Asyma Solutions Posted by Rob Greeno
Find me on: LinkedIn
Posted on December 23, 2013 at 8:21 AM

If you happen to be providing products or services to the oil and gas sector in Fort Saskatchewan, you know the importance of using the best accounting software.

This is particularly true as the hydrocarbon processing remains a key component to long-term growth in that region.

But one of the drawbacks for small and medium sized businesses is keeping on top of the company’s growth. That often means investing in a scalable system (i.e., a system that is able to handle an amount of work that continually grows larger) that can keep up with plans to add new customer accounts, branch offices, or more staff members. It simply doesn’t make sense to invest time, money, and personnel into a system that merely keeps up with basic tasks.

describe the imageThe key to this is growth process is finding an accounting firm to partner with that is well-versed in the oil and gas industry. They should have a basic knowledge of all oil and gas terminology and specific knowledge about things related to the money side of the industry: flat rate royalty, API numbers, completion and incompletion costs, JIB statements, royalty interest, severance tax, drilling costs, etc.

To be a real player in the oil and gas industry, your time is best spent finding and working with the higher-end chartered financial service companies, such as Asyma Energy.

They are prepared to deal with the seven economic/industrial clusters that have been identified by the city of Fort Saskatchewan as “having significant growth potential for Fort Saskatchewan over the next decade” –

  1. Hydrocarbon processing
  2. Light and medium industrial and related service and supply operations
  3. Eco-industrial manufacturing, services and technology development
  4. Retail, commercial and hospitality services
  5. Office development
  6. Tourism and entertainment
  7. Small business and entrepreneurship

(To read more from the city of Saskatchewan’s website and to learn more about their oil and gas industry predictions, go here.)

Maybe your vendor list is growing so fast that bills are – unwittingly, of course – going unpaid because the office help you have is part-time and/or your employees’ idea of record keeping doesn’t go far beyond stacking the paperwork in client coded stacks.

Contact Asyma Energy today. We can keep you in the game

 

Topics: Oil & Gas, Consulting

Rob Greeno
Written by Rob Greeno

Rob Greeno graduated with a marketing diploma from Lethbridge Community College and a business management degree from Mayville State University. He has been with Asyma Solutions for over ten years. Rob meets with prospects to help them create the process needed to reach their biggest goals. He has a passion for providing businesses with systems and procedures that work the way they want and need. Rob’s goal is to catch the flaws before they have the potential to cause problems. When not working Rob likes hunting, skiing, camping, and spending lot's of time with his two sons.