FERC and RUS Construction Accounting Learning Path
This learning path provides targeted, on-demand training in FERC and RUS construction accounting—the foundational skills needed to accurately record, allocate, and recover electric utility project costs under industry standards. It’s ideal for utility finance and accounting professionals, project accountants, construction managers, auditors, and consultants who work with electric utilities and cooperatives.
All of the courses in every learning path are included with an annual membership!
About this learning path
Construction Accounting Mastery: FERC & RUS Standards
This learning path provides a comprehensive deep dive into construction accounting under the FERC and RUS Uniform System of Accounts. Spanning three courses and 4.5 hours of expert instruction, this curriculum covers the entire asset lifecycle—from "building" standard units and applying overheads to the final classification of completed projects.
Beyond the fundamentals, you will explore advanced scenarios and master how project classification directly influences revenue requirements and customer rates.
Completing this learning path will give you the skills to:
Interpret and apply the FERC Uniform System of Accounts to construction costs and fixed asset recording. 
Classify project costs correctly to ensure full recovery in customer rates. 
Understand RUS construction accounting practices and how they relate to cooperative utilities. 
Use standard units, overheads, and work order processes effectively in the general ledger and rate cases.
Establish and maintain a work order system. 
Demonstrate practical skills in construction accounting that enhance accuracy, compliance, and defensibility in financial reporting and rate proceedings. 
Receive 10 hours of NASBA Certified Professional Education Credits (credits awarded for each class).
Earn a Power and Utilities Construction Accounting Expert Certificate and a verifiable digital badge upon completion—ready to add to your professional profile.
This learning path is for:
- Accountants and project accountants in electric utilities and cooperatives.
- Finance professionals responsible for recording and reporting construction costs. 
- Construction managers collaborating with finance teams. 
- Consultants advising utilities on accounting, rates, and regulatory compliance.
- Auditors of cooperatives and utilities.
"Working in work order and construction accounting, this learning path finally clarified how our day-to-day project costs flow through the FERC accounts and into fixed assets and rates. The courses are practical, clearly explained, and directly applicable to how electric utilities actually track and recover construction costs."
Steve
Accountant
This learning path includes the following courses:
Mastering Electric Construction Cost Accounting Under FERC & RUS Standards
Value: $157.00 Included!
FERC and RUS define the gold-standard for electric construction accounting. In this course, you’ll learn exactly how to apply those rules so your construction costs are accurate, defensible, and fully recovered through rates. (2.00 credits)
Electric Construction Accounting: Advanced FERC & RUS Topics
Value: $257.00 Included!
Not all electric work order and rate accounting fits the standard mold. This course delivers insights for tackling advanced, real-world situations. (CPE credits - 3.00)
Foundations of Electrical Construction Accounting: Mastering Fixed Asset Accounting
Value: $97.00 Included!
Poor electric fixed asset records can slow accounting, complicate project tracking, and directly affect customer rates. Learn how less detail can actually deliver clearer records and better results. (CPE credits - 1.00)
The Keys to Allocating Interdepartmental Costs
Value: $97.00 Included!
Allocating support costs in a multi-service utility or cooperative often raises the question, “How will this affect my budget?” Learn proven industry methods that improve clarity, build confidence, and make discussions easier. (CPE credits - 0.50)
Taught by a nationally recognized utility accounting expert
Russ Hissom
CPA
Russ Hissom, CPA, is a national utility accounting and rate expert with 35+ years of experience helping electric cooperatives and electric, gas, water, wastewater, and broadband utilities improve accounting and work order processes, strengthen financial performance, enhance operational excellence, support strategy development and implementation, and design fair, sustainable rates.
Frequently Asked Questions:
This learning path is designed for work order accountants, construction and project accountants, and finance professionals at electric utilities and cooperatives who are responsible for recording, tracking, and reporting construction costs under FERC and RUS standards. It is also well suited for professionals new to electric utility construction accounting who want a clear, practical understanding of how project costs flow from work orders to fixed assets and ultimately into customer rates.
This learning path includes a structured sequence of on-demand courses covering electric utility financial reporting, regulatory and construction accounting, cost allocation, and rate study fundamentals. It is designed to build practical, real-world understanding and strengthen the confidence of finance professionals working in—or transitioning into—the electric utility industry.
Course access is unlimited after purchase.
This learning path adds to your knowledge, making your career skills deeper and giving you tools to provide value to your organization.
The information is taken from industry best practices, real-life examples, and the experience of the instructor in providing practical solutions to power and utilities organizations.
The course number of CPE hours are shown in the course description. You'll receive a course completion certificate that also shows the number of CPE hours when you complete 100% of the course and take the course quiz. CPE hours are computed based on a 50 minute presentation hour.
Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
All course materials can be downloaded for each lessons. These include course slides, exercises, and Excel templates that can be tailored to your organization.
This bundle covers the core principles and practical application of electric utility construction accounting, including the FERC Uniform System of Accounts, RUS construction accounting standards, work order and project accounting processes, capitalization versus expense decisions, overheads and standard units, fixed asset accounting, and how construction costs ultimately flow into rates and financial reporting.
This bundle provides a structured, progressive sequence of courses that build on one another, helping you understand not just individual accounting rules, but how all aspects of utility finance fit together. It is designed to develop well-rounded expertise in the business of an electric utility, not just isolated technical topics.
The courses are fully on-demand and self-paced, allowing you to complete the learning path on your own schedule. Most participants work through the material over several weeks, applying what they learn immediately to their day-to-day utility finance responsibilities.
Upon completion, participants earn a Power and Utilities Construction Accounting Expert Certificate and a verifiable digital badge. The certificate documents course completion for professional records, while the digital badge provides a shareable, online credential that can be added to professional profiles (such as LinkedIn) to demonstrate expertise in construction accounting.
Just go to the App Store or Google Play and download the Thinkific app. Login and you are ready to take your purchased classes or add to your library!
This course also includes:
- $608 value - save 33% over individual course prices
- All course downloads and templates you can tailor to your organization
- 30 Days Money Back Guarantee
- Study on your own timeline with 24/7 access
- Revisit any lesson as many times as you like
- Access from anywhere across mobile app, desktop, and tablet
We Have Served Over 1,000 Professionals from All Experience Levels!
What Our Students Say
Our students have grown their skills by taking our courses. Here are just a few of their stories.Course Accreditation, Requirements, and Refund and Cancellation Policy
Course #: AT-4, AT-5, AT-6, AT-7, AT-8, AT-14, AT-15, AT-16, ATG-1
Program Level: Basic
Area of Study: Accounting - Technical
Delivery: QAS Self Study
Prerequisites: None
Advanced Preparation: None
CPE Credits: 11.00 for all courses
Last Reviewed: 8.1.24
Access Period: 12 months
Exam Questions: 5
Passing Grade: 70%
Retakes: Unlimited
Refunds and cancellations: Requests for refunds must be made in writing within 30 days for purchasing the course. No refunds will be granted after the qualified assessment has been completed. For any concerns, please contact us at 608 628 4020 or at [email protected].
Companies and markets that we serve
Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
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