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The U.S. is the No. 1 oil producer in the world, with Texas leading the way. The oil industry is known for its boom-and-bust cycles, and the economic implications for business and government alike can be serious. At UNT, the Institute of Petroleum Accounting helps to solve the latest challenges in the oil and gas sector, such as global fluctuations in oil prices and cybersecurity threats from hackers. The institute, created in 1980, also helps address questions on how to increase gender diversity in the industry and how to financially manage the risks that come as companies explore merger options as a survival mechanism.
Under the direction of accounting expert Harvey Zimmerman ('70, '72 M.B.A.), the institute publishes the Petroleum Accounting and Financial Management Journal three times a year and helps facilitate conversations between industry leaders and academic experts in petroleum accounting -- connecting academic research with working professionals.
"Today's petroleum industry is complex and requires specialized financial expertise to be able to meet its needs," says Zimmermann, a senior lecturer at UNT. "Over the past three-and-a-half decades, the institute has evolved and expanded to offer thought leadership in a way that blends academic insight with the critical financial, economic and tax issues facing the field."