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Intentional Relationships: Guide to Biz Dev for Audit Partners and Senior Managers

Clancy Fossum . April 19, 2018

Despite outside appearances, Audit Partners and Senior Managers don’t have it easy. As new Partners and Managers quickly realize, all isn't quite as it seems. Often times, their once seemingly endless Midas touch is a distant memory as future...

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Tagged: audit partner, business development

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What is RPA and Is It Going to Take My Accounting Job?

Clancy Fossum . April 05, 2018

As you already know, Hollywood would never lead you astray. With its shining moral compass that illuminates dark times like a beacon in the distance, accurate portrayal of people and events that are a perfect reflection of society, and flawless...

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Tagged: accounting tips, Robotic Process Automation

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Choosing an Oil & Gas Industry-Specific Accounting Software

Sarah Jolly . April 03, 2018

Suppose for a moment that you woke up on a bright and sunny summer's day and immediately felt a craving for some scrambled eggs. Given the strength of the oppressive Texan sun, chances are you could walk out to your driveway, crack an egg over...

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Tagged: oil & gas, accounting systems, system implementation, accounting software

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A Lessee’s Quick Guide to the New Lease Standard ASC 842

Clancy Fossum . March 29, 2018

Contrary to popular belief, ASC 842 is not the coordinates for a top secret military installation in the Sonoran Desert, nor is it a new highway being built on the outskirts of town. While it doesn't get the attention of its more notable brethren...

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Tagged: Leases, Lease Accounting, ASC 842

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Navigating Oil and Gas Acquisitions (Operated & Non-Operated)

Sarah Jolly . March 27, 2018

Sometimes navigating from one point to another is as simple as mindlessly following the docile tones of your GPS app. Other times, both Lewis and Clark – and Vasco da Gama for good measure – wouldn’t be able to lead the way through sufficiently...

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Tagged: oil & gas, acquisition

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When to Leverage an Outsourced Accounting Group

Clancy Fossum . March 22, 2018

As a wise man once warbled in a soothing and melodic tone, you gotta know when to hold 'em and know when to fold 'em. Like many instances in life, part of being a successful organization is knowing your limitations and bringing in specialized...

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Tagged: consulting, outsourcing, accounting tips

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Accounting Tips for Companies Relocating to Texas

Clancy Fossum . March 20, 2018

It would be unfair to the fine citizens of the Dallas-Fort Worth area to say that DFW is suddenly the belle of the industrial ball when, in fact, the region's methodical climb towards the top of the economic food chain has been a steady one, just...

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Tagged: accounting tips

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3 Tips to Speed Up Your Accounting Monthly Close

Sarah Jolly . March 13, 2018

Accounting might lack the thrills of race car driving, the endurance of long-distance running, and the sheer audacity of an astronaut, but that in no way means it's a static, humdrum profession. In fact, accounting is reliant upon speed and...

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Tagged: accounting standards, accounting systems

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How to Ensure Continuity After Employee Turnover

Clancy Fossum . March 06, 2018

Losing employees to turnover can rank somewhere between an afternoon spent at the dentist and a brisk walk through the gates of Hades if not handled properly. Not a firm in existence – no the matter the industry – experiences any particular sense...

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Tagged: employee turnover, company culture

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Best Practices for Accounting System Implementations

Clancy Fossum . February 22, 2018

Think of implementing new accounting systems like buying the perfect vehicle for hauling around the familial herd. No matter how diligent you are in choosing a model that gets the best gas mileage and has all the bells and whistles, if you don’t...

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Tagged: accounting systems, system implementation

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