The Public Utility Accounting self-study CPE course is tailored to equip participants with a deep understanding of the accounting principles and practices unique to the public utility sector. By exploring the usage and contents of the Uniform System of Accounts and detailing the characteristics of capital assets, this CPE course provides the foundational knowledge necessary for effective financial management within public utilities. Participants will learn the specific rules for recognizing plant costs, accounting for asset retirements, and capitalizing financing costs, alongside identifying various asset types and understanding continuing property records. This knowledge not only aids in compliance with regulatory standards but also enhances the ability to make informed financial decisions, benefiting public utilities with improved accuracy in financial reporting and asset management.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recall the type of fund within which a public utility's activities are recorded.
Identify the source, usage, and contents of the Uniform System of Accounts.
Specify the characteristics of a capital asset.
Recall the rules for recognizing the cost of plant.
Recall the accounting for an asset retirement.
Specify the accounting rules for the capitalization of financing costs.
Identify the different types of assets within a public utility.
Recall the contents of continuing property records.
Major Topics
Public Utility Accounting Issues
Asset and Liability Accounts
Income and Expense Accounts
Capital Asset Accounting
Materials and Supplies Inventory
Payroll Accounting
Utility Rate Design
