Watch this three-part webinar series to fully understand how using the Federal Energy Regulatory Commission system of accounts as your foundation can benefit your utility. If you’re new to the electric utility industry, you can start with the basics of FERC accounting and evolve to more complex applications. Learn practical lessons to apply to daily accounting situations, as well as more involved issues that frequently arise.
This three-part series recorded in 2020, includes the following webinars:
- Electric Utility Business and FERC Accounting 101
- Capitalization in FERC Accounting
- Best Practices for Complex Utility Transactions
Accounting professionals new to public power utility accounting or wanting to explore the FERC accounting structure.
- Russ Hissom, Partner Emeritus, Baker Tilly
Russ has been with Baker Tilly since 1983 and is a recognized leader in the energy practice with a focus on assurance and advisory issues for utilities. He is a national speaker, author, and trainer on internal audit, risk assessment, utility rates, and other financial topics.
Have questions? Contact 202/467-2997 or [email protected].
Return to webinar recordings
Webinar #1: Electric Utility Business and FERC Accounting 101
Recording length: 1 hour
New to the electric utility world? Get to know the business — and how it all works. Then review the basics of a utility accounting system built on the trusted Federal Energy Regulatory Commission (FERC) Uniform System of Accounts. Get an overview of the balance sheet, go through revenue and expense accounts, and discuss how this accounting model could work for your utility.
- What is the electric business and how does electric accounting work?
- Introduction to the FERC Uniform System of Accounts
- FERC balance sheet, revenue and expense accounts and how these fit the utility business model
Webinar #2: Capitalization in FERC Accounting
Recording length: 1 hour, 15 minutes
Learn all about FERC capital and expense accounting. Know when to capitalize a transaction vs. expense it and why it matters. Discuss which costs should be included for capitalized assets. Review common examples and learn how to create journal entries for these transactions. See what is to be recorded when assets are taken out of service. Review these and other common accounting situations in an electric utility.
- When to capitalize transactions and when to expense
- Which costs should be included in capitalized assets and common examples for each
- How to create journal entries for these transactions
- What is recorded when assets are taken out of service?
Webinar #3: Best Practices for Complex Accounting Transactions
Recording length: 59 minutes
Go beyond the basics and dive deeper into the complexities of FERC accounting. Learn how to account for contributions in aid of construction and labor costs. Understand rate recovery of transactions and how to use regulatory accounting. Figure out how to allocate costs in a multi-service utility. Get to know the differences between public power and rural electric cooperative accounting practices and requirements.
- Accounting for contributions in aid of construction: the difference between public power and electric cooperative accounting
- Rate recovery of transactions and how to use regulatory accounting
- Accounting for construction costs
- Developing cost allocations in a multi-service utility
Purchase the series: $275 for members; $550 for nonmembers
Have questions? Contact 202/467-2997 or [email protected]