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One-time enrollment · 12-month access
Enroll NowGroup pricing available →Master the complete work order accounting process — from project authorization through capitalization, overhead allocation, and asset retirement. Built for utility and co-op finance professionals who need to get construction accounting right.
CPE Hours
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.
Describe how construction costs flow from project authorization through capitalization, depreciation, and recovery in customer rates under FERC and RUS standards
Course materials are provided for informational and educational purposes only. They do not constitute legal, accounting, or professional advice. Users should consult their own qualified legal, accounting, or other professional advisors regarding their specific circumstances.
Course overview, roadmap, and learning objectives — setting the stage for the full work order accounting process. | 1.1 – Introduction to FERC/RUS Construction Accounting | 1.2 – Your Course Roadmap | 1.3 – Course Learning Objectives
Establishes why construction accounting decisions directly drive customer rates — and the cost of getting it wrong. | 2.1 – Why Construction Accounting Drives Your RatesFree Preview
Covers the four categories that every construction cost must be classified into: Labor, Materials, Direct Costs, and Overheads. | 3.1 – The Four Cost Types for Every Project
Explains what standard units are, why they are essential to the work order system, and how to build them using a standard unit template. | 4.1 – Building a Standard Unit: Why You Need These in a Work Order System | 4.2 – Standard Unit Template
Walks through the calculation of fully-loaded labor overhead rates and how to apply them to construction work orders. | 5.1 – Developing Fully Costed Labor Overhead Rates
Covers stores (materials management) overhead rates, how they are calculated as a percentage of materials issued, and review questions. | 6.1 – Developing Materials Management (Stores) Overhead Rates | 6.2 – Review Questions
Covers equipment overhead rate development and application, with an interactive exercise classifying overhead types. | 7.1 – Developing and Applying Equipment Overhead Rates | 7.2 – Exercise: What Are These Overheads?
Develops the Allowance for Funds Used During Construction (AFUDC) rate and demonstrates monthly application to outstanding CWIP balances. | 8.1 – The Cost of Capital: Developing the AFUDC Rate
Covers G&A overhead development and the 3-point allocation method, with a cost classification exercise and a spreadsheet template to calculate your own rates. | 9.1 – Developing and Allocating Administrative Costs to Projects | 9.2 – Exercise: Classify These Costs | 9.3 – Spreadsheet Template: Calculate Your Overheads
Covers the unitization process — transferring completed project costs from CWIP to plant in service — and review questions. | 10.1 – Closing Work Orders: The Unitization Process | 10.2 – Review Questions | 11.1 – Putting It All Together: Course Summary | 11.2 – Final Exam. | 11.3 – Course Evaluation | 11.4 – Your Roadmap and Next Steps!
