Beginner's Guide to Electric Utility and Co-op Financial Statements

The financial statements are the foundation that drives strategic decisions! But sometimes you need help in understanding what's important for your focus and the right questions to ask to get the information you need! This course is designed for co-op and utility Board Members and employees who do not have a finance background (and a review for those of you who do).

The financial statements tell the story of your organization and drive strategic decison-making

If your role is to approve financial, rate, and strategy decisions, this course provides an overview of electric co-op and utility financial statements and the key areas to focus on to make solid decisions. We discuss the areas that you should focus on as a board member, the areas for less focus, and questions you need to ask to obtain the information needed to make decisions!
Electric rate approval process

What you'll learn in this course

  • You'll learn about how the electric business works - from power production to end user.

  • You'll learn about the accounting oversight bodies and how they fit the electric co-op and utility business model.

  • We'll do a high-level review of the financial statements, so you'll learn how to "speak accounting".

  • You'll learn how the financial statements tell the story of your organization.

  • We'll discuss the areas of the financial statements that you should focus on, the areas to review, the areas to skip, and the questions to ask in obtaining more information - the vital information you need to make informed decisions.

  • We'll show examples of how KPI's drive strategics decisions.

  • In this 106 minute class you’ll earn 2.12 continuing professional education credits.

This course is for you if

  • You are a Board member or new employee and want to understand the types of financial statements and how they are used in making strategic decisions.

  • You are a Board member and want to know how to review financial reports and what questions to ask before evaluating financial performance and approving budgets, electric rates, and other strategic decisions.

  • You are a new electric cooperative or utility employee who prepares information for the financial statements.

  • You are an auditor and want to gain perspective on presenting reports to a non-technical audience.

  • You are an auditor of electric utilities or cooperatives and want high-level insights into how financial statements are used in making strategic decisions.

Take the course today, benefit your organization, and build your knowledge and value!

Meet your instructor!

Russ Hissom, CPA

Russ Hissom, CPA, is the owner of Utility Accounting Education Specialists (UAES). He has over 35 years of utility industry experience, serving as a partner in a national public accounting and consulting firm’s energy practice. Russ has worked with electric investor-owned and municipal utilities, and electric cooperatives, learning and leading industry best-practices. Russ brings this wealth of knowledge to every course, article, and book he develops. His speeches before national utility organizations share insights into helping utilities become more efficient and prepare for the “power and utilities organization of the future”. His goal is to provide value to you as an individual in your career development and to your utility/cooperative in these industry-focused areas.

Who should take this course?

  • Electric utility and cooperative board members

  • New electric utility and cooperative employees

  • Finance managers

  • Utility/coop budget personnel

  • Utility rates analysts

  • Auditors of electric utilities and cooperatives

What background should I have to take this course?

  • No previous knowledge of electric financial statements is needed. We start from the ground up.

  • Some introductory knowledge of the electric industry is not necessary, but can help you experience more benefits from the course.

  • This course is designed to help you understand how financial statements are used in making strategic decisions on budgets, projects, electric rates, and future power supply options. Some background in these areas is helpful, but not necessary.

What you'll get from this course

  • Course resources

    Over 60 + pages of course materials, including detailed examples and reports

  • Continuing Education Credits - CPE

    2.12 credits of CPE - Final approval of a course for CPE credits is based on the requirements of each states’ regulatory body

  • Analysis and insights

    Flowcharts and analysis insights provide the backdrop for better understanding of financial statements and efficient ways to use them in your role in the organization

Take the course today, benefit your organization, and build your knowledge and value!

Watch Intro Video

Course Highlights

Course Overview

11 videos with reference materials

  • 1

    Beginner’s Guide to Utility & Co-op Financial Statements & KPI's

    • Welcome to the class!

    • Here's a tour of the course player!

    • Course Introduction - What will I learn from this class?

    • Overview of the Electric Business - How does electricity get to my house?

    • Quiz 1 - Recap - How does electricity get to my house? (3 questions)

    • Reviewing the financial statements - how to "speak accounting"!

    • Quiz 2 - The financial statements and how to speak accounting! (3 questions)

    • Using Key Performance Indicators (KPIs) to review the financials and evaluate strategy

    • Quiz 3 - Using Key Performance Indicators (KPIs)! (3 questions)

    • Course summary and key takeaways

    • Wrap-up Quiz - Analyzing Financial Statements to Make Strategic Decisions

Take the course today, benefit your organization, and build your knowledge and value!

Complete one course and any future courses are 25% off!