FERC Accounting 101
Master the FERC Uniform System of Accounts and build a strong foundation for utility finance, operations, and rate-making. Practical, plain-language training built for people who need to apply this knowledge on the job.
- 19 lessons with 1.5 hours of video
- Downloadable PDF & Excel materials
- Interactive exercises and flip cards
- Review questions in each module
- NASBA-compliant final exam (10 questions)
- Certificate of completion (1.50 CPE)
Learn the FERC Uniform System of Accounts — The Foundation of Utility Accounting
The FERC Uniform System of Accounts (USoA) is the bedrock of electric utility accounting in the United States. Every transaction, every capital project, every financial report ties back to this foundational framework — and understanding it is essential for anyone working in utility finance, operations, or management.
This course gives you a clear, practical grounding in how the system is structured and how to apply it with confidence. Plain language, real utility examples, and interactive exercises make the material stick.
- New utility accounting and finance staff
- Operations and engineering staff involved in capital projects
- Utility managers who oversee financial reporting
- Accountants transitioning into the electric utility industry
- Board members seeking regulatory accounting literacy
- CPAs and auditors serving electric utilities
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 30 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
Inside the Course
Sets the stage with why the FERC USoA matters, the course roadmap, and the central daily challenge: knowing where to record each transaction.
- 1.1 – FERC Accounting 101 and the Importance of Electricity in Society
- 1.2 – Course Roadmap
- 1.3 – Course Learning Objectives
- 1.4 – The Daily Puzzle: Where Do I Record Transactions?
A concise overview of the electric system — generation, transmission, distribution — so accounting decisions make sense in operational context.
- 2.1 – How Electricity Works Free Preview
To access the free preview: Click "Watch Free Lesson Preview" at the top of this page. You will be directed to the course platform where you can view Module 2 at no charge before enrolling.
Explains FERC's regulatory authority, why consistent accounting is required across the industry, and the economic importance of the electric sector.
- 3.1 – Why FERC Makes the Rules
- 3.2 – The Impact of the Electric Industry on the Economy
A guided tour of the USoA structure — account numbering conventions, major account groups, and how to find the right account for any transaction.
- 4.1 – Navigating the FERC Uniform System of Accounts
- 4.2 – Practical Uses for the FERC Uniform System of Accounts
Covers what the utility owns and owes versus its operating results, with interactive flip-card exercises and module review questions.
- 5.1 – Balance Sheet and Income Statement Accounts
- 5.2 – Exercise: Flip for the Right Account
- 5.3 – Review Questions 1
Apply your knowledge to realistic utility accounting scenarios, including invoice classification exercises that reinforce the judgment skills used on the job every day.
- 6.1 – Practice Scenarios
- 6.2 – Exercise: Classify Those Invoices!
- 6.3 – Review Questions 2
Consolidates key concepts and next steps, followed by the NASBA-compliant final exam. A passing score of 70% earns your 1.50 CPE certificate.
- 7.1 – Key Concepts and Next Steps
- 7.2 – Course Evaluation
- 7.3 – Final Exam for NASBA Certification (10 questions, 70% to pass)
- 7.4 – Course Completion — You Did It!
Trusted by Over 1,000 Utility Professionals
"Very good overview of the introduction to the electricity business. I just started a job with a utility and will definitely be taking another course through UtilityEducation.com."
"The Intro to FERC class is a well thought out, easy to understand course for beginners!"
"This was an incredible overview! I cannot wait to share this with others. I LOVED how you explained things."
"Russ was great and explained everything really well — someone who has actually been in the industry. I will be taking more courses!"
"I am new to the Co-op world and this did help me. Thank you!"
"I found it very helpful as a new employee needing to learn and understand FERC Accounting. I look forward to the next class."
Frequently Asked Questions
Continue Your Development
Part of the New Electric Utility Accounting Professional learning path — a structured set of courses to build core electric utility accounting skills. Courses may be taken in any order.
Ready to Build Your FERC Accounting Foundation?
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.