FERC Project and Work Order Accounting | Step 4 | Fixed Asset Records that Benefit Your Organization

Utility rates are driven by infrastructure spending to serve customers. Step 4 in the accounting process is developing CPRs that ease the flow of information. This course shows you how.

Step 4 - Fixed asset records that benefit your organization

Utility rates are driven by infrastructure spending to serve customers. Where costs are recorded in the general ledger and continuing property records drives cost allocations in a cost of service study. Step 4 in the accounting process is developing CPRs that ease the flow of information. This course discusses best practices in streamlining the flow of information needed for CPRs and accurate and efficient fixed asset retirement accounting.
Standard construction units

What you'll learn in this course

  • You'll learn the basic information needed for continuing property records (CPRs)

  • You will learn about how CPRs are used in the electric system construction and accounting process

  • You will learn methods to reduce the number of CPRs to a level that makes their usage part of a more efficient business process

  • You'll take a quiz to reinforce the discussion on the course materials

This course is for you if

  • You work in the accounting or engineering departments and your job includes setting up or closing electric work orders

  • You would like more information on best practices in electric fixed asset retirement accounting

  • You train field crews on what is important on the "paperwork" side when they do electric construction projects

  • Your duties include setting up new continuing property records

  • You are an auditor of electric utilities or cooperatives and want insights into business processes in an electric work order system

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 work order and fixed asset accountants

  • Finance managers

  • Engineering and design team members

  • Project managers charged with construction budget management

  • Electric construction team leads

  • Auditors of electric utilities and cooperatives

What background should I have to take this course?

  • No background in electric construction accounting is needed.

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

  • This class will show you how to develop a CPR business process that is efficient for both finance and operations. We'll also focus on the impact that CPRs have on electric rates.

What you'll get from this course

  • Course resources

    Over 30 + pages of course materials, including detailed examples and reports

  • Continuing Education Credits - CPE

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

  • Analysis and insights

    Best practices in streamlining CPRs to make the flow of information from the field to the office more robust; template formats for CPR's that will provide an accuracy boost to your organization's fixed asset retirement accounting and better information for cost of service studies

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

Watch Intro Video

Course Highlights

Course Overview

6 videos with reference materials

  • 1

    FERC Project and Work Order Accounting - Step 4 - Fixed Assets that are a Benefit, not a Burden

    • Welcome to the class!

    • Here's a tour of the course player!

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

    • Continuing property records that are easy to manage and a foundation for customer rates

    • Course summary and key takeaways

    • Wrap-up Quiz - Continuing Property Records and Retirement Journal Entries

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

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