3 Ways an Energy Consulting Firm Can Add Value to Financial Reporting Teams
An energy consulting firm can add value to your business in both energy industry expertise and subject matter expertise. Financial management consultants can help your business research and document solutions to complex financial reporting issues.
Financial management consultants are well versed in the financial statements and footnotes for both public and private companies. They are able to help with quarterly and annual SEC reporting topics such as preparation and review of SEC filings, drafting of MD&A and footnotes, technical advisory on new reporting requirements, responses to SEC comment letters, asset retirement obligations (ARO), supplemental oil and gas disclosures (SMOG), and US GAAP to IFRS conversions.
EQUITY AND DEBT SECURITY ADVISORY
Financial management consultants are able to assist with IPO readiness assessments and preclearance letters, drafting S-1 and MD&A disclosures, drafting 3-05 acquisition and pro forma financials, and drop-down master limited partnerships (MLPs). Through their experience and knowledge in the energy sector, financial management consultants are able to help navigate these transactions in current market conditions.
NEW AND EMERGING ISSUES
Financial management consultants stay current on complex financial reporting matters in order to assist our clients with technical accounting updates. They are able to assess operational and financial impacts of new standards. Consultants are able to assist with the implementation of new and updated standards such as consolidations, revenue recognition, leases, and discontinued operations.
Oil and gas consultants stay up to date with industry and SEC hot buttons, such as oil and gas impairment testing, full cost to successful efforts conversions, and proved undeveloped reserve classifications.