There's no way we can recover this expense from our customers in their rates, right?

There are unique areas of electric work order accounting that don't fit into the overall "box" of situations you'll encounter. This Level 2 advanced accounting course discusses industry best practices in complex areas of electric construction and rates.
Get the Course >
Nuclear power plant

What you'll learn in this course

  • You will review of the basic fundamentals of electric system construction accounting.

  • You will learn practical examples of the construction process that can be used in your organization.

  • The course will build on the basic construction fundamentals towards more complex areas of construction accounting, including asset retirement obligations, completed construction not classified, accounting for spares, cost of capital, contributions in aid of construction (FERC and GASB approach), and overhead calculation and accounting.

  • You will learn the financial statement presentation of these areas.

  • You will take a quiz to reinforce your knowledge of this topic.

  • In this 159 minute class you’ll earn 3.18 continuing professional education credits.

  • You'll get pop-ups along the way encouraging you to keep going and unexpected surprises at any time!

19 lessons and quizzes | 3.00 hours of content | 3.18 credits of CPE

Sometimes there are unique transactions that do not have a ready reference. Here are some examples of transactions that will impact your organization, with solutions to smooth the rates impact.

01
Trends in the power industry and impact on the electric business
02
How FERC accounting is used in construction and ratemaking
03
The fundamentals of construction accounting - standard units, overhead rates, and analyzing and classifying projects
04
How to account for preliminary survey costs, leases, completed construction, critical spares and jointly-owned power plants
05
How to calculate and record asset impairments and use ASC 980 and GASB 62 to recovery asset losses
06
Accounting for asset retirement obligations and depreciation expense
07
Accounting for storm damage, insurance recoveries, and FEMA grants
08
Quizzes and downloads - Level up your knowledge

This course is for you if........

  • You work in the finance area and are seeking information on "those areas that don't seem to fit our usual FERC accounting practices".

  • You work in the accounting or engineering departments and your job includes setting up or closing electric work orders.

  • You train field crews on what is important on the "paperwork" side when they do electric construction projects.

  • You are a rate analyst and need to understand these transactions to include them in cost of service studies.

  • You are an auditor of electric utilities or cooperatives and want insights into more complex areas of power and utilities accounting.

  • You'd like access to a community of electric industry accounting and finance students to share questions, answers, and comments on the electric business.

I'm passionate about the power and utilities business and my goal is to help you and your organization!

I'm Russ and I am passionate about the electric, water, wastewater, gas, and broadband business! My goal is to share what I've learned in serving electric co-ops and utilities of all sizes with accounting, finance, and business process services.

I would love to help you learn more and help you and your organization! Check out the offerings for courses and consulting services. You'll get tidbits you can use immediately in your work!

Worked with co-ops and utilities across the US and Canada
Presenter and educator for American Public Power (APPA), American Waterworks Association (AWWA), Edison Electric Institute (EEI), American Gas Association (AGA), and state industry organizations
Experience includes rate studies, FERC accounting implementation, business process reviews, and expert witness testimony before FERC, state commissions, and in arbitration proceedings

Who should take this course?

  • Electric work order and fixed asset accountants

  • Finance managers

  • Financial statement preparers

  • Project managers charged with construction budget management

  • Electric rates analysts

  • Auditors of electric cooperatives and utilities

What background should I have to take this course?

  • Basic background into the electric construction process can help you experience more benefits from the course.

  • Some introductory knowledge of the electric industry is not necessary, but can help you experience more benefits from the course.

  • This class provides a short review of electric construction fundamentals, then moves to details on more advanced areas of electric construction accounting. A basic knowledge of electric industry accounting will aid in maximizing your enjoyment and usefulness of this course.

What you'll get from this course!

  • Course resources

    Over 60+ pages of course materials; jump directly to or replay key concepts with clickable time-reference navigation

  • Continuing Education Credits - CPE

    3.18 credits of CPE - Final approval of a course for CPE credits is based on the requirements of each states’ regulatory body

  • Analysis and insights

    Best practices in complex areas of power and utilities accounting including journal entries, financial statement presentations, and cost of service considerations

  • Certificate of Completion

    On 100% completion of the course

  • Course access on desktop, table, and mobile

    Learn on-demand, wherever you are

  • The Power of Community

    Access to the Electric Industry Accounting and Business Community to share, questions, answers, and comment on the electric business with other community members

How does this course build my knowledge?

Monthly, quarterly, and annual memberships provide unlimited access to all courses and resources
Get an All-Access or Premium Membership

All courses and resources are built on power and utilities industry best practices and provide practical solutions you can implement in your unique organization

All-Access Membership - Monthly

  • Unlimited access to over 20 online/on-demand courses, 30 hours of content, and spreadsheet resources

  • Download copies of all course content

  • For every course completed you will receive a Certificate of Completion with CPE credits

  • Access to the Power and Utilities Community page to ask questions, get answers, and share ideas

  • Binge courses OR spread them out to meet your schedule

  • New courses are added each month

  • Cancel anytime and have access through the end of your membership period

  • Classes are available on-demand from your desktop, tablet, or phone

$27 per month

Get a Monthly All-Access Membership >

All-Access Membership - Annual

  • Unlimited access to over 20 online/on-demand courses, 30 hours of content, and spreadsheet resources

  • Download copies of all course content

  • For every course completed you will receive a Certificate of Completion with CPE credits

  • Access to the Power and Utilities Community page to ask questions, get answers, and share ideas

  • Binge courses OR spread them out to meet your schedule

  • New courses are added each month

  • Cancel anytime and have access through the end of your membership period

  • Classes are available on-demand from your desktop, tablet, or phone

$257 per year

Get an annual All-Access Membership >

Premium Membership - Quarterly

  • Includes everything in All-Access Membership plus:

  • Monthly live one hour one-on-one session with you for discussions of your questions on co-op and utility FERC and NARUC accounting, cost-of-service, rates, finance, best-practices in construction accounting, and any other topics you’d like to discuss!

  • Include your team members for a wider discussion of the issues!

  • Download three eBooks on FERC construction accounting and ASC 980/GASB 62 regulatory accounting

  • Previews of new courses and your input into course development and future courses

$247 every 3 months

Get a Premium Membership >

Continuing Professional Education (CPE) Credits

  • All of our online courses are modeled on the guidelines of the AICPA and NASBA Statement on Standards for Continuing Professional Education (CPE) Programs. Courses are not NASBA certified.

  • Final approval of a course for CPE credits is based on the requirements of each states’ regulatory body.

Need some insights into FERC Construction Accounting?

These courses walk you through how FERC construction accounting is used in an electric co-op and utility


TAKE 20% OFF A MONTHLY, QUARTERLY, OR ANNUAL MEMBERSHIP (12 months)-USE COUPON CODE
Newmember20