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One-time enrollment · 12-month access
Enroll NowGroup pricing available →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.
CPE Hours
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.
Identify the causes of asset impairments and the circumstances that trigger impairment accounting
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 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. | 1. The New Shiny Object | 2. 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. | 1. GASB 42 — Accounting for Impairments | 2. Review Questions — Part 1 | 3. GASB 42 — Partial Impairments | 4. Decommissioning
Use GASB 62 regulatory accounting to defer impairment losses and recover them through customer rates — connecting asset accounting directly to the ratemaking process. | 1. GASB 62 for Regulatory Accounting and Rate Recovery | 2. Review Questions — Part 2
Review key takeaways | 1. Course Wrap-Up | 2. Course Evaluation | 3. Final Exam
