Virtual Course

Public Utility Accounting

This foundational course is designed around the FERC Uniform System of Accounts, covering every relevant FERC account.
January 17 - 26, 2023

Virtual Training

Join us as we hold this popular course as a series of four interactive, virtual sessions. It’s a convenient way to attend the course, while still having the opportunity to interact with the instructor, your industry peers, and earn 10.8 CPE credits. This course combines real-time presentations, real-world examples, and Q&A sessions.

Timing

Attend four real-time sessions from 1 – 3:30 p.m. Eastern on January 17, 19, 24, and 26. There will be a 15-minute break around 2 p.m. ET during each session.

Unable to make the live sessions? Recordings will be made available (automatically to those who register) a week after the last session takes place.

Course Overview

This foundational course is designed around the Federal Energy Regulatory Commission (FERC) Uniform System of Accounts (USoA), covering every relevant FERC account. Review the proper usage of each account, the role of accounting in public utilities, preparation of FERC-based income statements and balance sheets, the supporting charts of accounts, and proper coding for all FERC account activities. Learn about the role of accounting in public utilities, FERC accounting procedures, the uniform systems of accounts, and utility accounting subsystems.

Review a FERC Income Statement based on a test case and apply your knowledge during an in-class exercise, which addresses the proper coding for all FERC account activities. The instructor will also compare how investor-owned utilities utilize the system vs. municipal utilities.

Course Topics

  • Accounting for operating revenues and expenses
  • Introduction to utility property and plant accounting
  • Introduction to FERC uniform system of accounts
  • Applicability of generally accepted accounting principles to public utilities
  • Financial statement structure and presentation
  • Capital vs. expense determination
  • Allocation of indirect or common costs
  • Accounting for unbundled services

Sample Agenda

Parts 1-2: January 17 and 19

  • Section One
    • Course Introduction and Objectives
    • Introduction of Uniform System of Accounts
    • Incorporating FERC into Utility Chart of Accounts
  • Section Two
    • Accounting Information for Public Power Systems
    • Accounting Requirements
    • Users of Accounting Information
  • Section Three
    • FERC USOA: Instructions 
    • Definitions
    • General Instructions
    • Electric Plant Instructions
    • Operating Expense Instructions
  • Section Four
    • Balance Sheet Accounts

Parts 3-4: January 24 and 26

  • Section Five
    • Income Statement Accounts
    • Revenue and Expense Classifications
    • Operating Income
    • Other Income Statement Items
  • Section Six
    • Introduction to Accounting Applications
    • Allocations of Indirect Costs
  • Section Seven
    • Introduction to Accounting for Utility Property
    • Work Order System
    • Continuing Plant Inventory
    • Depreciation Accounting
  • Section Eight 
    • Basic Rate Design and Funding Concepts
    • Base Rates
    • Fuel Adjustment or Power Cost Adjustment Charges
    • Funding PILOT and Transfers

Recommended for

Those who are new to public utility accounting practices or unfamiliar with the FERC accounting structure. This class is also useful for other utility staff—including management, technical personnel, and policymakers—looking to understand how accounting processes impact employees and various utility operational areas, the financial implications of capitalization vs. expense, etc.

Course Level

Basic: No prerequisites; some advance preparation. Attendees are asked to review two chapters from APPA’s Public Utility Accounting publication, in advance of each session.

Course Access and Materials 

  • Zoom Links: Zoom log in credentials will be sent out 24 hours before the start of Session 1.
  • Course Materials: Attendees will receive an electronic copy of APPA’s Public Utility Accounting publication, which will provide the basis for the course. This manual will be accessed through APPA’s electronic document portal, which attendees can download to a few days prior to the course. 
  • Recordings: All sessions will be recorded and can be accessed through APPA’s document portal (within a week of the last class in the program), in case you can’t attend the live versions. Recordings will be accessible for 90 days after the last course session. Note: Continuing education credits can only be issued for attending live sessions.

Accreditation

The following continuing education credits will be provided, after successfully completing 90% all four live sessions. These sessions will be recorded, though certificates can only be awarded to those who meet the attendance requirements for attending the live sessions (click here to review requirements).

Recommended CEUs .9/PDHs 9/CPEs 10.8 (for all four sessions)
Field of Study: Accounting

Instructor

jerryJerry McKenzie is a Senior Manager with the MGT Consulting Group and the author of APPA’s new Public Utility Accounting publication. He has an extensive 35+ year background in cost accounting concepts and practical applications. Having worked in both the private electric utility sector and the municipally owned environment, Jerry brings a broad and unique perspective to this course. He has extensive knowledge of the Federal Energy Regulatory Commission’s (FERC) statutes and regulations and has taught (and authored publications) on a variety of public utility accounting topics. 

Pricing

Individual Course
Members*        

$725    

Accounting Fundamentals Bundle** (save $300!)
Members        
 

 

$1,995      
 

Questions? 

Registration/Billing
Email: [email protected]

Schedule/Content/Accreditation
Email: [email protected]

Register now!

Registration Fees 

  Members*
Bundled Series - includes all three courses (save $300) $1,995
Individual Courses
  • Public Utility Accounting
$725
  • Work Order & Asset Management Accounting
$575
  • Advanced Public Utility Accounting
$995
*Non-member rates are double the member rates.

Group Discounts

Save money when your organization registers five or more people for the same class or the bundled series. The larger your group, the more you save! Registrations must be submitted on the same order (at the same time) to qualify for the group discount; discounts cannot be retroactively applied to previous orders. 

Number of registrants

Discount
(per person)

1-4

n/a

5-9

$50

10-14

$100

15-24

$150
25+ $200

Cancellations/No-Show/Refunds/Substitutions

All events will be recorded and attendees will automatically receive a copy of the recordings, in case you can’t attend live.

Registrants who cancel in writing at least 7 days before the first day of a course are entitled to a refund of their registration fee, minus a $50 cancellation fee. Registrants who cancel after that will not receive a refund, but attendee substitutions will be allowed for this event only. Registrants and no-shows who do not cancel at least 7 days before the course start date are responsible for the full registration fee and are not entitled to a refund. 

Cancellation deadlines: 

  • Accounting Fundamentals Virtual Series (all 3 classes): Cancellations must be received on/before Jan. 10
    • Public Utility Accounting: Cancellations must be received on/before Jan. 10
    • Work Order & Asset Management Accounting: Cancellations must be received on/before Feb. 7
    • Advanced Public Utility Accounting: Cancellations must be received on/before March 14

Cancellation requests should be made through your My.PublicPower portal, or addressed to: [email protected]

Communication

  • 24 hours after registering: You’ll receive a confirmation email within 24 hours of registering, which contains some preliminary information.
  • 24 hours before
    • You’ll receive your Zoom login link the day before the first session (sent from the APPA Academy’s Zoom account <[email protected]>)
    • You’ll also receive a final logistics email 24 hours in advance of the first class. 

If you don’t receive this correspondence, email [email protected]

Course Access and Materials

  • Zoom Links: Zoom log in credentials will be sent out 24 hours before the start of the first session.
  • Course Materials: Attendees will receive access to APPA’s secure online document portal a day before a course, where the eManual will be made available. 
  • Recordings: All sessions will be recorded and can be accessed through APPA’s document portal (within a week of the last class in the program), in case you can’t attend the live versions. Recordings will be accessible for 90 days after the last session. Note: Continuing education credits can only be issued for attending live sessions.

 

Earn While You Learn!

Participate in virtual programs to earn Continuing Education Units (CEUs), Professional Development Hours (PDHs) and Continuing Professional Education credits (CPEs). This event is eligible for the following credits:

What educational credits are available?

You can earn the following kinds of continuing education credits for attending live sessions during this event—provided the following requirements are met:

Requirements for Successful Completion

  • Attendees are required to attend and participate in 90% of each live event and complete an online evaluation at the end of the session.
  • Partial credit cannot be given for partial attendance
  • Attendance is monitored by an APPA staff member during the event, through an online report log, and upon review of the post-event evaluation data.
  • Completion certificates will be available within two weeks of the last session in a live event (for those who meet the requirements) through your APPA member portal (access instructions will be provided).
  • Virtual sessions are recorded (attendees automatically receive access to recordings within a week of the last session), though continuing education credits can only be given for attending live events. Recordings will be accessible for 90 days after the last session.

IACET logoContinuing Education Units (CEUs): The American Public Power Association is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. For information regarding certification status, attendance requirements and obtaining attendee transcripts, contact [email protected]. Verify our IACET Accreditation.

CPE logoContinuing Professional Education (CPE) Credits: The American Public Power Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. Unless noted, there are no prerequisites for the courses offered and no advance preparation is required. Courses are group-internet based offerings at the basic program level (unless otherwise noted). Credit hours and areas of study for the courses are listed on the individual course pages. For more information regarding administrative policies, such as clarification of requirements, complaints, and refunds, please contact [email protected]

Professional Development Hours (PDHs): The American Public Power Association’s educational practices are consistent with the criteria for awarding Professional Development Hours (PDHs) as established by the National Council of Examiners for Engineering and Surveying (NCEES). Course eligibility and number of PDHs may vary by state.

Format and Log-In Information

This class will be offered on the Zoom meeting platform. Presented in four interactive sessions, this course features real-time presentations, real-world examples, and Q&A sessions.

Communication

  • 24 hours after registering: You’ll receive a confirmation email within 24 hours of registering, which contains some preliminary information.
  • 1 week out: You’ll receive a more comprehensive logistics/prep email a week out from the start of the first session. 
  • 24 hours before: 
    • You’ll receive your Zoom log in link the day before the first class (sent from the APPA Academy’s Zoom account <[email protected]>)
    • You’ll also receive a final logistics email 24 hours in advance of the first class. 
  • If you don’t receive this correspondence, email [email protected].

New to Zoom?

If you haven't participated in a Zoom meeting before, please download the Zoom web client from the Zoom Download Center. This will enable you to access all of the Zoom tools and functionality vs. using the web version. Then, visit Zoom.us/test to ensure you are able to join a meeting. 

If you are not able to download the Zoom web client, you can still participate via your Internet browser. We recommend using Chrome for the best results. If you use your Internet browser, your functionality may be more limited (for example, you will only be able to see one video feed at a time), and you will need to create a Zoom account. (account creation is a free and straightforward process, but you will want to do this in advance so you do not miss any part of the meeting).

  • Internet access: You will need a strong Internet connection to run the Zoom meeting platform. 
  • Audio and webcam: You will need to enable computer audio to listen and speak (alternatively a call-in number will be provided) and you will need a webcam to fully engage in the small group breakout exercises and discussions. 

Privacy and Security

The American Public Power Association takes your privacy and security very seriously. For this reason, we have put the following security measures in place for this course:

  • A random Meeting ID
  • Password-protected
  • Enabled waiting room to screen meeting participants
  • Restricted screen sharing to hosts only

Code of Conduct

Participants agree to abide by the APPA Code of Conduct. If participants engage in unacceptable behavior as outlined in the code, the Association may take any action it deems appropriate, including but not limited to, expulsion from the current and future meetings, with no warning or refund.

Questions?

Registration/Billing
Email: [email protected]

Schedule/Content/Accreditation
Email: [email protected]