NEPPA has partnered with the American Public Power Association to bring the Public Utility Accounting training in-house.  

 

Course Dates:

Monday, June 17, 2024 to Tuesday, June 18, 2024

 

Course Hours

8:30 am – 3:30 pm

 

Location

NEPPA Training Center

200 New Estate Road

Littleton, MA 01460
 

Course Level & Prerequisites

Basic: This course does not have prerequisites, nor does it require advance preparation.
 

Who Should Attend

This course is designed for personnel who are new to utility accounting practices or unfamiliar with the FERC accounting structure. It is also for experienced accountants, management, technical personnel and policymakers looking to understand how accounting processes impact employees and operations will also benefit.

• Auditors
• Accounting Managers
• Billing/Accounting Clerks

Course Overview

Electric utility accounting isn’t taught in schools, yet the industry has numerous unique factors that affect how to handle its finances. Especially if you are new to the industry, you might be looking for information to help you in your day-to-day work, and in particular, will want to know about the Federal Energy Regulatory Commission’s Uniform System of Accounts, or USoA.
 

Join this course to learn the basics of how the electric utility business works, get a grasp on the ins-and-outs of FERC accounting, and review practical examples of how you can use the FERC USoA. Get up-to-speed on how to use the language of the FERC USoA for accounting, how the system is organized, and how it can serve as a reference guide for your work.
 

This course uses a combination of instructor presentations, videos, practical exercises, discussions, and quizzes to reinforce the lessons and appeal to a variety of learning styles. 

 

Supplemental Materials

Attendees will receive a copy of APPA’s Public Utility Accounting Guidebook publication.

 

Course Topics

• Electricity basics and costs
• How the electric utility business is organized
• Introduction to the FERC Uniform System of Accounts
• Similarities and differences between governmental accounting standards board (GASB) and the FERC Uniform System of Accounts (USoA)
• Detailed walk-through and examples of the FERC Uniform System of Accounts – Assets, Liabilities, Revenues, and Expenses
• Capital vs. maintenance (and why it matters)
• Fixed asset accounting
• Recording labor costs
• A year in the life of a utility accountant (classifying invoices and building financial statements)
• Building financial statements
• Conducting financial analysis
• Determining when your utility needs to increase rates

Learning Outcomes

Upon completion of this course, participants will be able to:

• Discuss the basics of the electric business and the fundamentals of how electric utility accounting works.
• Define the accountant’s role as a service provider to internal and external customers and describe how those customers use the data provided
• Correctly explain the structure and usage of the FERC Uniform System of Accounts and how it tells the story of your utility.
• Accurately differentiate between the FERC balance sheet, revenue and expense accounts and describe how these fit the utility business model.
• Define the key concepts and basic tools of utility construction accounting.
• Explain how to build and analyze a financial statement.
• Discuss the process for evaluating financial results and potential rate increases.