How does classifying project costs impact electric rates?

Where costs are recorded in the general ledger drives the customer cost of electric service.

Analyzing and classifying electric project costs is a crucial step in the construction acconting process. Where those costs are recorded in the general ledger drives cost allocations in a cost of service study.

This course shows you detailed examples in determining how to determine the proper accounting for completed projects. FERC is the gold standard in project analysis and together we will mine every nugget of information FERC offers in this area. Your electric rates will benefit! (1.32 credits)

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Power poles for project analysis

What you'll learn in this course

  • You'll learn the fundamentals of analyzing electric system construction projects

  • You will learn about unitization and will unitize a construction project

  • You will learn about analysis tools (such as Handi-Whitman) for retirement work orders

  • Continuing property records will be introduced

  • You'll learn the detailed entries for retiring utility plant in service and recording salvage and cost of removal

  • You'll take a quiz to reinforce your knowledge of this topic

  • In this 65 minute class you’ll earn 1.32 continuing professional education credits.

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

8 lessons and quizzes | 1.1 hours of content | 1.323 credits of CPE

Taking a deeper look at your construction accounting processes? Here is Step 3, analyzing and classifying project costs, based on FERC principles.

01
Analyzing and unitizing project costs
02
Differences in the process - mass vs. non-mass work orders, meters, and transformers
03
Retirement work orders and the value of fixed asset records
04
Quizzes and downloads - Level up your knowledge!

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

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

  • You're curious what the term "unitization" means and how it works.

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

  • Your duties include setting up new continuing property records.

  • You are an auditor of electric utilities or cooperatives and want insights into business processes in an electric work order system and how FERC, FASB, and GASB can work seamlessly together.

  • 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

  • Experienced finance team members for a review

  • Engineering and design team members

  • Project managers charged with construction budget management

  • Electric construction team leads

  • Auditors of electric cooperatives and utilities

What background should I have to take this course?

  • No background in electric construction accounting is needed.

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

  • This class will show you how to analyze project costs for reasonableness before closing work orders. The course also shows detailed entries for retiring utility plant in service and recording salvage and cost of removal.

What you'll get from this course!

  • Course resources

    Over 30+ pages of course materials; jump directly to or replay key concepts with clickable time-reference navigation

  • Continuing Education Credits - CPE

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

  • Analysis and insights

    A step by step process for analyzing electric construction projects, best practices in unitizing and closing work orders, and template formats to follow for closing mass, non-mass, and retirement work orders

  • 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


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