[Anonymous]

I work at a public Oil & Gas firm. We have month-end close (1st 6 business days of every month) that is pure hell. Working from 8am till 9-11pm every month. And the week leading up to month-end close is pretty busy as well b/c we want everything in order to facilitate month-end close.

I’m looking at private companies to avoid the month-end close. Do they have their own month-end close? I’m assuming they have qtr and yr end close, but I realize that’s unavoidable.

[Anonymous]

I don't have the experience to tell you whether or not it will be as intense as it is in a public company, but they certainly should have a month end close. It's when the company closes the current accounting period, posts any top-level adjusting entries, etc.

[Anonymous]

I don't have the experience to tell you whether or not it will be as intense as it is in a public company, but they certainly should have a month end close. It's when the company closes the current accounting period, posts any top-level adjusting entries, etc.

[Anonymous]

Ya I figured they also have a month-end close. It's probably not as intense as a publicly traded company due to the detail investors, auditors, SEC, etc require. It's just terrible 2 weeks of every month working 60ish hrs and not getting compensated enough for it (monetarily or otherwise)

[Anonymous]

Ya I figured they also have a month-end close. It's probably not as intense as a publicly traded company due to the detail investors, auditors, SEC, etc require. It's just terrible 2 weeks of every month working 60ish hrs and not getting compensated enough for it (monetarily or otherwise)

[mla1169]

Of course they have month end close. Their deadlines won't be as tight, and accordingly they likely have a smaller staff to deal with it. I've never heard of a business that doesn't do month end, and if one did I would certainly never work for a company that let everything pile up for months.

FAR- 77
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Massachusetts CPA (non reporting) since 3/12.

[mla1169]

Of course they have month end close. Their deadlines won't be as tight, and accordingly they likely have a smaller staff to deal with it. I've never heard of a business that doesn't do month end, and if one did I would certainly never work for a company that let everything pile up for months.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[oilgaslb]

We have month end closes. They aren't horrible depending on the size of the department…10 day close is ideal for our company. Quarterly close is worse (worse as in, working maybe 50 hours instead of 40-45 that week), annual close is worst (most Saturdays from mid-Jan to mid-Feb, and anywhere from 40-60 hours/week excluding that Saturday).

Long story short – you will never encounter a company, private or public, O&G or otherwise, that does not have a month-end close. The degree to which it affects your hours/how brutal it is will vary from company to company.

[oilgaslb]

We have month end closes. They aren't horrible depending on the size of the department…10 day close is ideal for our company. Quarterly close is worse (worse as in, working maybe 50 hours instead of 40-45 that week), annual close is worst (most Saturdays from mid-Jan to mid-Feb, and anywhere from 40-60 hours/week excluding that Saturday).

Long story short – you will never encounter a company, private or public, O&G or otherwise, that does not have a month-end close. The degree to which it affects your hours/how brutal it is will vary from company to company.

[Author]

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