Produced by the Knowledge Center, expert training from S&P Global Market Intelligence
Utility companies face a variety of unique accounting and financial reporting challenges. Whether you're a financial professional in the industry, or an analyst following the sector who needs to understand how those challenges impact the utility business, this program will give you a more nuanced perspective. You'll come away with a solid understanding of the impact of financial reporting and regulatory accounting components of an electric or gas utility.
As an attendee, you will:
- Engage in discussions of real life case studies, explaining the interaction of rate base, rate of return and operating expenses in determining revenue requirements
- Gain experience tracing the effects of the ratemaking process on utility accounting (ASC980) and in a utility's financial statements
- Learn the essential differences between GAAP and FERC financial reporting requirements
- Interact with subject matter experts on a wide range of topics, including utility plant depreciation, funds used during construction (AFUDC) and capitalization methods used for utility plants
- Acquire the knowledge to compare income tax accounting and concepts of normalization and flow-through
- Discuss the sector specific impacts of utility rate regulation, utility ratemaking, revenue sources and cost allocation
- Special features of the utility balance sheet and income statements
- Compliance with accounting and financial rules
- How revenues are calculated for the common customer classes
- Calculations and components of a rate order
- The special regulated accounting and regulatory issues facing utilities' income taxes
- How the convergence of the International Financial Reporting Standards (IFRS) with GAAP will challenge utilities and what it will likely take to comply with the standards
"Very worthwhile, even for those with relatively light utility experience."
– General Accountant, Empire District Electric Co.
"Great introductory understanding of utility accounting and its impact on revenues."
– Supervisor Project Controls, Ameren Illinois
"Instructor broke things down in a very consumable way, providing examples throughout."
– Manager, TECO Energy