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Category Accounting

  • Accounting from the Inside Out: Understanding Debits and Credits
  • Every individual in a leadership capacity needs to understand the bottom line of their business. Without a clear knowledge of what the businesses financial report says there are no way effective decisions can be made. This one-day training program is designed principally for managers and supervisors who do not work in accounting, but who need to know how it works as well as the ‘language of accounting’. Participants will gain valuable insight into how to make better informed decisions, identify possible errors and potential problem areas, understand the ‘bottom line’, and how to evaluate the financial results of various aspects of the business. Additional topics to be covered include:

    • Accounting terms and concepts
    • Accounting processes and what they mean: cash accounting, accruals, allocations, pre-paid, receivables, depreciation, amortization, goodwill, inventory, deferrals, reserves
    • How transactions are entered into financial records
  • Advanced Topics in Telecom Accounting
  • This course covers in more detail some of the topics in the fundamentals course, including work order systems, financial statement accounting, financial planning, cost of service and rate design, activity-based accounting, capital credits, investment strategies, debt portfolio management, internal control procedures, and other similar topics.

  • Advanced Topics in Utility Accounting
  • This 1.5 day course covers in more detail some of the topics in the fundamentals course, including work order systems, financial statement accounting, financial planning, cost of service and rate design, activity-based accounting, capital credits, investment strategies, debt portfolio management, internal control procedures, and other similar topics. Participants will learn about:

    • Internal controls
    • Accounting for investments and derivative financial instuments
    • Accounting for long-lived assets
    • Financial statement analysis
    • Joint ownership of capacity
    • Functionalizing costs
    • Rate relationships
    • Budgeting and managerial accounting
  • Budgeting and Financial Analysis
  • This course covers the procedures necessary to prepare annual capital and expense budgets for utilities. The concepts of zero based budgeting, activity based budgeting, and extrapolation budgeting will be discussed. For the capital budgeting, commonly used methods to evaluate alternative capital projects will be discussed including present-value (worth) analysis, discounted cash flow, annual cost, payback periods, and cost-benefit ratios. In the expense budget, the use of operating ratios, such as the quick ratio, plant-revenue ratio, equity, TIER and DSC will also be discussed. Actual capital and expense budgets will be utilized in the course and budget spreadsheets will be given to attendees.

  • Financial Audits: “What They Are and What They Aren’t”
  • This one-day course is designed to provide managers, directors, and employees in non-financial roles, with an overview of the audit process. The course will seek to help answer: what role do auditors play, what is a financial audit, why do businesses need an audit, who can perform audits, what are the guidelines that must be followed, and who gets the audit report and what are they supposed to do with it. This course is a must for anyone in a management capacity or interested in learning more about the auditing process.

  • Fraud Prevention and Detection
  • This one-day class is designed principally for Accountants of all levels as well as those in Management. The focus of the class will concern a review of common types of fraud, their increased occurrence, an understanding of the prevalence of fraud, and how organizations are responding to this problem. The class will include a discussion of fraud deterrence methods, including techniques to strengthen internal controls to prevent fraud as well as steps and processes used in detecting fraud. Participants will be exposed to the use of various internal control items such as COSO as well as how to investigate internal fraud, and the use of various interviewing techniques. Participants in this program will gain useful insight into:

    • The high cost of fraud
    • Various methodologies for detecting and preventing fraud
    • How to distinguish between perpetrators and the victims
    • Understanding the characteristics and demographics of those who commit fraud
    • Preventing fraud and understanding how to develop a successful fraud prevention program
  • Fundamentals of Health Care Accounting
  • This 1 day course covers the fundamentals of accounting for new accountants and those involved in related jobs that have need to understand how accounting affects other aspects of the business. This course will cover the basics of operations and terminology, and will cover the following accounting topics: Using a prescribed uniform system of accounts (e.g., FERC or RUS), cash versus accrual accounting, work order systems for capitalizing self-constructed plant, the general ledger and subsidiary ledgers, the four accounting cycles (revenue, collections, disbursements, and payroll). Participants will learn about such items as:

    • The unique nature of accounting
    • Accounting hierarchy
    • Four sets of books
    • Financial statement presentation and disclosures
    • Important FASB interpretations
    • Uniform system of accounts
    • Financing Issues
    • Other operations accounting
  • Fundamentals of Telecom Utility Accounting
  • This course covers the fundamentals of utility accounting for recently hired accountants and those involved in related jobs that have need to understand how accounting affects other aspects of the business. This course will cover the basics of operations and terminology, and will cover the following accounting topics: using a prescribed uniform system of accounts, cash versus accrual accounting, work order systems for capitalizing self-constructed plant, the general ledger and subsidiary ledgers, the four accounting cycles (revenue, collections, disbursements, and payroll).

  • Fundamentals of Utility Accounting
  • This 1.5 day course covers the fundamentals of utility accounting for new utility accountants and those involved in related jobs that have need to understand how accounting affects other aspects of the business. This course will cover the basics of utility operations and terminology, and will cover the following accounting topics: Using a prescribed uniform system of accounts (e.g., FERC or RUS), cash versus accrual accounting, work order systems for capitalizing self-constructed plant, the general ledger and subsidiary ledgers, the four accounting cycles (revenue, collections, disbursements, and payroll). Participants will learn about such items as:

    • The unique nature of utility accounting
    • Accounting hierarchy
    • Four sets of books
    • Financial statement presentation and disclosures
    • Important FASB inerpretations
    • Uniform system of accounts
    • Financing Issues
    • Other operations accounting
  • Introduction to the Cost of Service and Financial Forecasting
  • This course is designed to provide employees with a broad understanding of the processes involved in performing a cost of service study. Students will learn how system revenue requirements are developed and than allocated to individual rate classes. In addition, participants will explore how actual rate structures are developed. This one-day session will be of principal benefit to staff likely to be involved in a support role during a cost of service study process or likely to have contact with customers. All terminology will be defined and all applicable processes explained. The later part of the class will explore the benefits of having the ability to perform financial forecasting. Simple forecasting tools that can be used in house will be explained and demonstrated. In addition, participants will have the opportunity to see how various scenarios can be built into a comprehensive model to reflect real situations where forecasting is needed. Any utility considering a rate increase or are considering the use of forecasting tools will find benefit in sending to this program. Topics to be addressed include:

    • Cost of Service Terminology
    • Development of Allocation factors (customer, usage, demand, revenues, etc)
    • Revenue Requirements
    • Cost of Service Tests
    • Using Excel functions in forecasting models
    • Setting up simple spreadsheets
    • Management of Margins, TIER, Equity and Working Capital
    • Forecasting increases and loss of load
    • Forecasting increase in power cost
    • Evaluating management alternatives (rates, expenses and loans)
  • Plant Accounting for Electric Utilities
  • This course covers the plant accounting systems, or work order systems, used by electric utilities to maintain accurate plant records. Because electric utilities are so capital intensive, they must maintain detailed and accurate records of their outside plant. Utilities that borrow RUS funds are required to maintain continuing property records (CPRs) and subsidiary records in accordance with RUS procedures. Other topics that will be covered include integration of plant record-keeping with financial forecasts, construction work plans, long range system studies, power requirements studies, the loan application (including RUS Form 740 c), RUS construction contracts, close out documents, staking sheets, time sheets, and other similar records. In addition, participants will learn about:

    • RUS loan codes for new lines
    • New tie lines
    • Conversion and primary upgrades
    • Substation, switching, re-insulation, and system improvements
  • Plant Accounting for Telecom
  • This course covers the plant accounting systems, or work order systems, used by telecom entities to maintain accurate plant records. Because telecom companies are so capital intensive, they must maintain detailed and accurate records of their outside plant. Utilities that borrow RUS funds are required to maintain continuing property records (CPRs) and subsidiary records in accordance with RUS procedures and Part 32. Other topics that will be covered include integration of plant record-keeping with financial forecasts, construction work plans, long range system studies, the loan application, RUS construction contracts, close out documents, staking sheets, time sheets, and other similar records. In addition, non-regulated plant verses regulated plant issues will be discussed.

  • Telecom #2 – Advanced Telecom Accounting Issues
  • This webinar is directed toward participants that perform mid to upper lever accounting functions at telecoms and builds on Telecom 101. The course covers issues relating to revenues non-regulated entities, and USAC audits.

  • The Non-Financial Manager’s Guide to Utility Accounting
  • When you think of workplace attitudes you must ask yourself the simple question: would you want an employee who is extremely good at his or her job but has a bad attitude or an average employee who has a positive attitude? I believe the overwhelming response would be for the later because we all have learned the hard way that bad attitudes can reduce the effectiveness of ones organization. The fact is that skills can be taught but an attitude is often difficult to change. The question often asked is what is an attitude? To some it’s a mindset, a way of thinking but that’s only partly right. The bigger picture is that an attitude is a habit of thought. It defines how one looks at their world and workplace. What employers want are people with attitudes that think “I can,” not “I can’t.” This one day seminar is devoted to the building blocks that lead to positive attitudes. Our trainer will show participants how to find, keep and maintain an approach that leads to a positive outlook. This highly interactive course includes interactive session as well as self evaluations to help individuals create an open mind and heart to developing a more productive, meaningful work life. This session will look at:

    • How does one understand the importance of having a positive attitude
    • How to develop and maintain positive feelings and thoughts in the workplace
    • How a positive attitude leads to more productivity and a commitment to doing things right
    • How attitudes impact and influence those around us
    • The relationship between positive attitudes and internal and external customer satisfaction
    • Identifying personality and attitudes – our true “colors”
    • Creating personality matrix-the value of it
    • Emotions and attitudes
    • Anger-when, why, how, who
    • Attitude “revamp”, a process and project
  • Understanding and Using Account Receivables
  • This course is designed to provide participants with a clear and concise understanding of accounts receivables for both residential and business customers. The session will follow the accounts receivable transaction from beginning to end, including tips on analyzing and reconciling this account. Participants will review example bills, learn the basics of how they are created and what drives the amounts billed to the member. Internal control issues will be discussed as well as potential fraud hot spots. Participants will gain an understanding of:

    • Service Order & Connection
    • Bill Components
    • Account categories
    • Basic rate design
    • G/L accounts
    • Billing entries
    • Internal Controls
    • Revenue analysis
  • Understanding Work Order Accounting
  • This class delves into the purpose behind work order accounting and its use and accounting authority. The course will cover the initiation of the work orders, accumulating work-in-process, contribution-in-aide of construction, as well as retirements and contracts. Participants will learn about such expenditures as: materials, labor, transportation, and overhead. In addition, the course will provide valuable information on work order close out, utilization, and continuing property.