Accountants are responsible for evaluating financial records, analyzing spending habits as well as suggesting effective ways to boost revenue. There are numerous types of accountants, such as management accountants and certified public accountants (CPAs).
Nowadays, various businesses hire management accountants in order to deal with internal monetary outcomes and accounting concerns. Organizations often hire CPAs to prepare taxes and other financial documents that need to be reported to government agencies.
As oil and gas industries also have to submit different paperwork to government authorities they look for Oil and Gas Accounting Recruiter by Energy Search Associates to hire management accountants who are licensed CPAs as well.
The majority of accountants work in office settings, while a few of them work from home. Remember the work of accounting can be stressful and depending upon the time of year, it can also be fast-paced.
Generally, accountants need to work independently and even need to travel to some oil and gas extraction or refinery locations. Almost all accountants work on a full-time basis with overtime mainly at the time of tax season.
Oil and gas accountants should be capable of listening to co-workers and clients. He/she must be comfortable in communicating both orally as well as writing.
The oil and gas accountant should examine every piece of information closely and needs to maintain an organized work area by paying attention to every small detail. Along with this, they must be skilled in spreadsheet and allocations software programs with a complete understanding of mathematical & statistical formulas.
Here are some steps involved in becoming an oil and gas accountant:
Earn a dual degree
Though accountants generally require only a bachelor’s degree to find work but the majority of states demand CPA applicants have almost 150 units of postsecondary coursework. A traditional bachelor’s degree program in accounting needs 120 units.
Dual degree programs help students to complete bachelor’s as well as master’s degree programs in just five years instead of six.
Course topics in the dual degree programs usually include micro & macroeconomics, financial management, cost accounting, operations management, marketing, accounting information systems, business law, and taxations rules.
Most oil and gas courses and certificate programs address the energy market, economic management strategies, global issues, petroleum accounting, and domestic natural gas accounting.
Build industry experience
College students must complete as many accounting internships as possible to attain the experience required for CPA licensing necessities. Moreover, employers of oil and gas accountants prefer applicants with almost 3-5 years of experience in oil & gas accounting, coding & tax analysis, and accounts receivable.
Not all colleges necessitate students to complete internships, while other colleges help students find accounting internship openings. Universities that have coursework or certificate programs linked to oil & gas accounting can have direct contact with industry directors.
Also, representatives from the largest oil and gas companies are asked to be guest lecturers often in business as well as accounting classes.
During these lectures, students have the chance to ask questions about individual companies and industry accounting practices. At the same time, many representatives offer internship chances that can further lead to full employment.
Become a CPA
Individuals become licensed CPAs in their state of employment, while each state has some different licensing needs. In most states, license applicants require to meet the education & experience needed to become eligible for exams.
However, experience requirements differ but in most cases, the state demand applicants to have at least 1-2 years of approved accounting experience.
Search for employment as an oil & gas accountant
CPAs who have adequate experience and training can now start applying for oil and gas accountant positions. The BLS projected that positions for accountants as well as auditors are going to increase by almost 7% by the year 2030.
Competition for accounting positions is all set to remain high.
Maintain CPA license
CPAs should maintain their license by meeting all the renewal needs which include paying fees and completing appropriate continued-education courses. Each state has different needs for what counts as agreed coursework.
Some states might require CPAs to attend formal classes or conferences. While some states even permit individuals to learn from collaborating web-based seminars or individual study programs.
Acquire experience
Oil & gas accountants with leadership skills can advance into supervisory or management positions inside their respective companies.
Therefore, Energy Search Associates is a well-known oil and gas accounting recruiter that helps companies to hire the best candidates.
