UPCOMING SESSIONS
Utility Accounting is a systematic way of recording, analysing, and reporting financial information in the energy sector. Therefore, accounting in public utility needs professional skills and knowledge to prepare income statements, balance sheets, supporting charts of accounts, and proper coding for all the organisation's account activities.
This Utility Accounting training course involves the guideline of accounting and financing, accounting policies and procedures, and utility accounting subsystems. This training course will provide you with the appropriate skills and knowledge to effectively implement your role and explain how to prepare your financial statements in compliance with regulatory requirements. Also, participants will have an understanding on public utility accounting, financing, and pricing to protect ratepayers.
This training course provides the management and staff of energy organization with an understanding of the best practices of utility accounting that are needed to ensure their organisations' sustainability.
By the end of this training course, the participants will be able to:
- Understand the core concepts of utility accounting
- Be familiar with the policies, procedures, and processes in your energy organization
- Develop the balance sheet according to international standards.
- Analyse the elements of utility revenue and expenses
- Compare your financial data with benchmark and common rates
Participants to this course will receive an intensive and enjoyable learning experience and thorough training on the subjects covered by the outline. The tutor utilises a variety of proven adult learning teaching and facilitation techniques. Training methodology includes real case studies, group discussions, question and answer sessions, videos and a lot of exercised related to the nature of their businesses.
This training course will provide your employees with valuable comparative information in utility accounting, often used for benchmarking and other similar performance measurement and analysis, that have incredibly positive impact on your organization. The organization will gain from employees with: .
- An in-depth knowledge of utility accounting issues
- More effective use of financial statements to make the decisions
- Greater reliability of compliance with the regulatory requirements
- The knowledge and skills to prepare accounts in accordance with best practices
- Skills to evaluate financial information and improve performance
- An ability to work independently and as valuable team members
- Better understanding of the context of the utility accounting
- Greater awareness of energy accounting in your industry
- Improved your knowledge and skills of energy industry practices
- Increased understanding and assurance to complete tasks successfully
- Increased self-confidence at your work
- Greater job satisfaction in yourself and ability to support mangers and colleagues
DAY ONE: INTRODUCTION TO UTILITY ACCOUNTING
- Definition of Utility Accounting
- Uses and Users of Utility Accounting Information
- Uniform system of accounts
- Work Order Accounting and Unitization
- Key Rate Design and Funding Concepts
- Understanding costs
DAY TWO: UTILITIES EXPENSE
- Definition of utilities expense
- Utilities Expenses Classifications
- Accounting for Utilities Expenses, cash basis
- Operating Expense Instructions
- Capitalization Policies
- Sample Utility
DAY THREE: BALANCE SHEET ACCOUNTS
- Assets & different Debits
- Utility Property and Investments.
- Current, Accrued Assets and Deferred Debits
- Liabilities and Owners' Equity
- Proprietary Capital and Long-term Debt.
- Current, Noncurrent and Accrued Liabilities.
DAY FOUR: THE ACCOUNTS OF INCOME STATEMENT
- The utility Operating Income
- Operating Revenues
- Other Income and Deductions
- Operation and Maintenance Expenses
- Interest Charges
- Extraordinary Items
DAY FIVE: ACCOUNTING APPLICATIONS
The Certificates
Certificate of Completion will be provided to the participants who attend and complete the training course.
