I would like a definitions and some examples. Thanks
2006-10-08 23:28:34 · 2 answers · asked by Cifru 1 in Business & Finance ➔ Corporations
Typically, oil & gas ventures are structured as limited partnerships (or LP's), and many finanicial companies (such as banks, insurance companies) will invest money to be the LP's. As a limited partner they remove some liability from themselves. The reason that these ventures are structured as LP's is that the US gov't provides certain tax incentives to oil & gas investments. The LP structure allows a convienent way for companies to invest money in these "tax-prefferred" investments.
(I should also note that not all LP's get the special accounting treatment--oil & gas LP's are the ones that do).
2006-10-09 13:15:27 · answer #1 · answered by c 3 · 0⤊ 0⤋
I used to work as an acounting & billing staff, what i used to do was working on people's gas account and processing evrything on system like calculating how much they spent and how much they have to pay maybe that is what you heard
2006-10-08 23:40:35 · answer #2 · answered by Anthony 1 · 0⤊ 0⤋