GASB Guidelines for Asset Impairments, Decommissioning & Regulatory Accounting
Learn how to identify, measure, and record asset impairments and retirement obligations under GASB 42 and GASB 83 — and use GASB 62 regulatory accounting to defer and recover those costs through customer rates.
- 16 lessons · 1 hour of video
- Downloadable PDF & Excel materials
- Journal entry examples for impairments & AROs
- Review questions in each module
- NASBA-compliant final exam (5 questions)
- Certificate of completion (1.00 CPE)
Three Standards, One Framework for Managing Impaired Assets
Asset impairments are a reality for utilities — power plant retirements, storm damage, technological obsolescence, and regulatory changes can all trigger impairment accounting. For public power and governmental utilities, three GASB standards govern the accounting: GASB 42 for the impairment itself, GASB 83 for asset retirement obligations, and GASB 62 for recovering those costs through customer rates.
This course walks through all three in a practical, integrated way. You'll learn what causes impairments, how to apply the GASB 42 measurement methods, how to record asset retirement obligations and decommissioning costs under GASB 83, and how GASB 62 regulatory accounting can be used to defer and recover those losses — including partial impairments, which require their own careful treatment.
The course includes detailed journal entry examples throughout so you leave with the mechanics as well as the conceptual framework.
- Public power and municipal utility accountants
- Controllers and CFOs managing plant retirement and impairment
- Rate staff connecting impairment costs to rate recovery
- Auditors and consultants serving governmental 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 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
Inside the Course
Course orientation, learning objectives, and downloadable materials.
- 1. Welcome — Breaking Up With Your Assets Is Hard to Do
- Lesson Menu
- 2. Course Overview
- 3. Learning Objectives
- 4. Course Materials Download
Understand the events and circumstances that trigger impairment accounting — from obsolescence and storm damage to regulatory changes and stranded plant.
- 5. The New Shiny Object, Then the Ducks Arrive
- 6. The Grass Looks Greener — Asset Retirement Obligations
Apply GASB 42 to identify, measure, and record asset impairments — including the nuances of partial impairments and how to present them in financial statements.
- 7. GASB 42 — Accounting for Impairments Free Preview
- 8. Review Questions — Part 1
- 9. GASB 42 — Partial Impairments
- 10. Decommissioning
Use GASB 62 regulatory accounting to defer impairment losses and recover them through customer rates — connecting asset accounting directly to the ratemaking process.
- 11. GASB 62 for Regulatory Accounting and Rate Recovery
- 12. Review Questions — Part 2
Review key takeaways and pass the final exam to earn your 1.00 CPE certificate.
- 13. Course Wrap-Up
- 14. Course Evaluation
- 15. Final Exam
Trusted by Over 1,000 Utility Professionals
"Our municipal utility had a partially impaired substation and I had no idea how to account for it. The GASB 42 section walked me through exactly the right treatment."
"The decommissioning module was timely — we're retiring a diesel peaker plant and the ARO and GASB 62 rate recovery guidance was directly applicable."
"I appreciated how the course tied GASB 42, 83, and 62 together in one place. Understanding how all three interact saved me hours of digging through the standards."
"The partial impairment section is something I haven't seen covered well anywhere else. Very practical examples that match real utility situations."
"Clear and well-organized. I came in knowing almost nothing about asset impairments and left with a solid framework for evaluating and recording them."
"The rate recovery connection through GASB 62 was the piece I was missing. Now I understand how impairment losses can be deferred and recovered in customer rates."
Frequently Asked Questions
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Account for Impairments with Confidence
Master GASB 42, 83, and 62 together — and learn how to recover impairment costs through customer rates. Earn 1.00 NASBA CPE credit.
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.