[justgivemea75]

Hi all,

I am currently in the process of trying to figure out which industry I want to work in and was wondering if there is anyone who has worked for both energy (mostly O&G but MLPs work as well) or tech (mostly software or semiconductors) and can help me decide which one is a better fit for my interests? Since I know finding someone who has done both is rare, can anyone who has worked in either tell me more about it?

Basically, I’m looking for a field that is challenging from an accounting perspective. I feel as though both could fit the bill, but am looking for more details. I feel as though my skills lie in an industry that requires strong technical knowledge of financial accounting and understanding of what the business is doing to record it’s operations. O&G deals with large capital projects that involve leasing problems, complex contracts to deliver products, joint ventures, and all sorts of messes from a technical perspective. On the other hand, I don’t know much about software, but have read a little bit about VSOEs and know those can be a headache. Plus, tech is rapidly changing and big data analytics and other novel ways of delivering services will pose unique challenges.

Can anyone comment on either industry and help me figure out what the pros and cons are, what the major financial accounting challenges are, etc.?

Thanks!

FAR - 84
AUD - 76 (phew)
BEC - 88
REG - 77

DONE!

[fuzyfro89]

I don't know oil&gas or tech too well, but in general I'll say that any mid/large company with significant (maybe $5B+??) and international operations will not be very different from an accounting/finance perspective.

You alluded to some obvious areas that may be emphasized in one industry vs another, but ALL businesses will have complex lease arrangements, derivatives, debt, equity comp, etc.

Few have special circumstances. One that comes to mind is valuation of oil reserves (assets) which is a complicated estimate from what I understand vs revenue recognition in software industry which has its own nuances and GAAP requirements.

Hard to say which you will “like” better, since most of that will come from the company culture and benefits, your supervisor, your personal interests, and a number of other factors.

If you happen to love a certain area of accounting, then it may be a way to go, but realize that as you progress you'll have to see other areas anyway, so I'd suggest not going to oil&gas because you love valuation of oil reserve accounting… because inevitably you'll have to go to do some work that you don't love.

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