Continuing Property Records: Mastering Fixed Asset Accounting
Learn how to consolidate continuing property records without changing general ledger balances, improve cost-of-service outcomes, and reduce the accounting burden of maintaining excessive CPR detail.
- 9 modules · 19 lessons · self-paced video
- Downloadable student reference guide (PDF)
- Interactive exercises and review questions
- Retirement method calculation examples
- NASBA-compliant final exam (10 questions)
- Certificate of completion (1.5 CPE)
Turn Asset Detail into Clarity—and Better Rate Results
Continuing property records are the foundation of utility plant accounting—but most utilities either have too many CPRs creating unnecessary maintenance burden, or too few leaving gaps that create problems at rate cases and audits. This course shows you how to build and maintain a CPR system that's right-sized for your utility.
You'll learn the four essential data elements every CPR must contain, how to apply the "shrink the units" methodology to consolidate records without losing cost or vintage accuracy, and four proven retirement accounting methods used by utility accountants across the country.
Applicable to both FERC and RUS regulated utilities, this course gives you practical strategies you can apply immediately to improve accuracy, reduce maintenance burden, and produce better support for rate cases and audits.
- Utility and co-op accountants managing fixed asset records
- Controllers and CFOs overseeing plant accounting
- Rate and regulatory staff preparing cost-of-service studies
- Engineering and construction staff involved in asset recording
- Anyone responsible for FERC or RUS plant accounting compliance
Russ Hissom, CPA
Russ Hissom, CPA is a principal of UtilityEducation.com, providing on-demand professional education in FERC, RUS, FASB, and GASB accounting, finance, and ratemaking for electric utilities and cooperatives. With over 35 years of hands-on industry experience, he brings real-world expertise to a modern learning platform trusted by more than 1,000 professionals.
What You'll Be Able to Do After This Course
Interactive Learning, Not Just Video
The course bridges the gap between accounting and operations — showing exactly what level of detail your continuing property records need to support construction crews, recover costs in customer rates, and stand up to a regulator audit.
Inside the Course
Welcome to the course — what CPRs are, why they matter, and what you'll be able to do when you're done.
- 1.1 Welcome & Course Overview
- 1.2 Learning Objectives
- 1.3 Course Materials Download
What CPRs are, what they are not, the four essential data elements, and how CPRs connect to the general ledger, depreciation studies, and rate cases.
- 2.1 CPR Fundamentals Free Preview
- 2.2 The Four Essential Elements
- 2.3 CPRs and the General Ledger
- Review Questions
Why engineering, construction, and accounting all need different things from asset data — and how to find the collaboration sweet spot that serves everyone without creating redundant systems.
- 3.1 Engineering Perspective
- 3.2 Construction Perspective
- 3.3 Accounting Perspective
- 3.4 Compatible Units vs. CPRs
- Review Questions
The "shrink the units" methodology — how to consolidate thousands of CPRs into manageable groups while preserving cost and vintage accuracy. Includes GIS integration and GL reconciliation.
- 4.1 The CPR Overload Problem
- 4.2 Shrink the Units
- 4.3 GIS and CPR Integration
- 4.4 GL Reconciliation
- Review Questions · Classification Exercise
Four proven retirement methods — direct CPR lookup, FIFO, Handi-Whitman index, and estimation — when to use each, and how to document your approach for auditors and regulators.
- 5.1 Why Retirement Accounting Matters
- 5.2 Direct CPR Lookup
- 5.3 FIFO Method
- 5.4 Handi-Whitman Index
- 5.5 Estimation
- Review Questions · Retirement Method Exercise
How CPR historical cost and vintage data drives cost allocation and rate cases — and what regulators require in your CPR documentation.
- 6.1 How CPRs Drive Customer Rates
- 6.2 Cost Allocation Basics
- 6.3 Rate Case Documentation Requirements
- Review Questions
Evaluating CPR technology from spreadsheets to cloud systems, integration with work order and GL systems, annual CPR audits, and common pitfalls to avoid.
- 7.1 Technology Options
- 7.2 System Integration
- 7.3 Annual CPR Audit
- Review Questions
The complete CPR lifecycle — from construction closeout through retirement — and the CPR "sweet spot" that balances detail with maintainability.
- 8.1 The Complete CPR Lifecycle
- 8.2 Finding the Sweet Spot
- 8.3 Comprehensive Exercise
Six key takeaways, next steps for your utility, and the final exam to earn your 1.5 CPE certificate.
- 9.1 Six Key Takeaways
- 9.2 Course Evaluation
- Final Exam (10 questions)
Trusted by Over 1,000 Utility Professionals
"I did not have a lot of knowledge about utility construction accounting or standard units, but this course was a good overview of the process and very understandable to a newbie."
"This was an incredible overview! I cannot wait to share this with others. I LOVED how you explained things. You have great speaking and explanation skills."
"Russ was great and explained everything really well — someone who has actually been in the industry. I will be taking more courses!"
"Good basic understanding of RUS and the chart of accounts. I came from outside the utility world and was quite lost. This class helps provide a basic foundation."
"Great training for our Board members."
"Was a quick, easy and great information!"
Frequently Asked Questions
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Turn Asset Detail into Clarity
Join over 1,000 utility and co-op professionals building practical accounting skills that improve rate outcomes.
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 .
Requests for refunds must be made in writing within 30 days of 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 russ.hissom@utilityeducation.com .
Course materials are provided for informational and educational purposes only. They do not constitute legal, accounting, or professional advice. © 2026 Utility Accounting & Rates Specialists, LLC. All rights reserved.