Reno CPA Firm - Call us today at 775-332-4201

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Mining Accounting Services

Nevada oil and gas accountingThe global financial crisis has had a varied and profound impact on the mining industry, from record profits for many in the precious metals segment to losses, curtailed operations and closures for many of those dependent on industrial minerals. There are indicators that the slump brought on by the financial crisis is beginning to recover. In 2015, companies reported a significant increase in exploration costs. Renewed interest from investors is increasing the availability of investment capital, both from foreign and domestic sources. As the national economy recovers there will be a corresponding demand for industrial minerals. Growth and restoration in the industry is imminent.

Challenges and Opportunities:

For a company to be successful the challenge is to minimize risk while maximizing reward. By definition, profit is ‘reward for risk’. Regulatory compliance and reporting, capital formation and taxation (both domestic and international) are areas where many smaller companies need assistance. Complying with the United States Securities Exchange Commission and Canadian Securities Administrations policy and rules or determining whether a US or Canadian exchange is more beneficial is necessary to being properly positioned for success. Being properly positioned requires the effort of a team. Being registered with both the Public Company Accounting Oversight Board (PCAOB) and the Canadian Public Accountability Board (CPAB) is a benefit to many of our cross border clients operating in both the US and Canada. For publicly traded companies, not only is it critical to meet the regulatory requirements timely, but your filings portray your company to the public and potential investors. Having experienced professionals immediately available as a resource provides our clients with an added level of confidence. Because of limited resources and correspondingly smaller accounting departments some companies have retained us to consult with, assist or perform the duties of the Chief Financial Officer. In those instances we cannot be the company’s independent auditor, but rather we will coordinate with them. Foreign Bank Account Reporting (FBAR) has become a requirement for many companies. The penalties for failing to do so are essentially non-negotiable with the authorities and potentially very costly. Improper tax planning can be more costly. Our team of international tax consultants solves problems before they occur.

Our Tax and Accounting Services for the Mining Industry Include:

Contact us to request a consultation, or call us at 775-332-4201 today. Let us know how we can help you.