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Category Accounting

  • Asset Management
  • Utility companies depend on assets to drive their business. The challenges facing utilities, whether from deregulation, globalization, regulatory requirements, increasingly competitive market, or restructuring has placed business operations on center stage. In order to achieve higher performance, whether measured in terms of revenue growth, profitability or customer satisfaction, companies are out of necessity looking at asset management as a means of maximizing the value of their assets. This one-day course is intended to provide participants with an understanding of what asset management is, why it matters, and what assets should be analyzed.

    Objectives:

    • Discuss how one should plan for the future value of assets
    • Define general assets
    • Apply Field Assets and exposures
    • Explain Rights-of-way
    • Compare Personnel as an asset
  • Form 7: Knowing Your Cooperatives Business
  • Form 7 is the Financial and Statistical Report submitted monthly to the USDA Rural Utilities Service. This report is based on the system’s accounts and other departmental records and reflects the status of the system at the time of the report. The information in the report’s 16 sections helps the board, the management team, and employees understand the performance of the cooperative. In addition, the report is connected to other studies and reports prepared by the management team and departmental leaders. Understanding the information and grasping the cooperative’s financial philosophy helps board members to make consistent policy and financial decisions; helps the CEO, vice presidents, and department leaders to construct sound procedures and policy recommendations and to prepare appropriate financial strategies; and helps cooperative employees understand the impact of their daily activities to the cooperative’s bottom line.

    Objectives:

    • To recognize the individual sections of Form 7 and the information each section presents
    • To be able to study a Form 7 and to summarize the important characteristics of the cooperative
    • To use reliable information about the cooperative to make appropriate management decisions
  • Fraud Series 1 – The First 48 Hours – What to do if Fraud happens to you
  • Even before the current tough economic times, fraud and white-collar crime was estimated to be a $480 million problem in the United States. Every year companies face this frustrating and at times gut-wrenching problem. This one hour session covers what you can do in the first 48 hours after fraud has been uncovered or suspected.

  • Fraud Series 2 – Fraudsters & Bears: How to deter both
  • Preventative measures are expensive, tedious, and often inadequate. However, companies can no longer ignore the true costs of fraud and the emotional toll that this crime takes. This one hour session provides companies with a model for creating a “Fraud Deterrence Program.”

  • Telecom #1 – Introduction to Telecom Accounting
  • This webinar is designed to assist accountants and auditors who work with independent commercial or cooperative telecom carriers. The course will cover such topics as: a brief history of telecommunications, basics of telephone networking, Part 32 accounting.

  • Telecom #3 – Telephone Plant Accounting
  • This training provides an overview of the plant accounting cycle. Individuals will gain an overview of the telephone network and how it works as well as various network structures. The impact of Plant 32 accounting requirements will be reviewed as they impact ratemaking and network structures. In addition, the following topics will be discussed: accounting for various plant construction items, plant depreciation and amortization and CPR’s.

  • Telecom #4 – Budgeting and Financial Analysis For Telecoms
  • This webinar examines the budgeting process with the goal of providing participants with sufficient information to establish a company budget. Participants will learn how t, o begin the budgeting process, what to include in a budget, and the proper methods for presenting a budget. The course will also detail how to monitor results and analyze variances. Participants will discuss how to prepare, analyze, and understand financial ratios with an emphasis on customizing reports for management use.

  • Telecom #5 – Understanding Telecom Cost Allocations, Separations and Access
  • This webinar is devoted to providing answers to key business questions confronting telecom providers. Participants will learn about issues regarding allocating costs properly as well as how to maximize cost recovery. The session will provide valuable insight into how business plans must be managed and maintained in order to improve efficiency, effectiveness, and costs. The class will delve into such important issues as an assessment of cost settlements, regulated and non-regulated allocations, access procedures, and inter-carrier compensation.

  • Utility Accounting Series 1 – Utility Accounting Basics
  • This session covers 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), 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
    • Uniform system of accounts
  • Utility Accounting Series 2 – Advanced Topics in Utility Accounting
  • This session covers in more detail some of the topics in the fundamentals course, including, financial statement accounting, rate design, capital credits, and other similar topics. Participants will learn about:

    • Accounting for long-lived assets
    • Equity and Capital Credits
    • Financial statement analysis
    • Functionalizing costs
    • Rate relationships
  • Utility Accounting Series 4 – Understanding Workorder Accounting
  • This course will cover the initiation of the work orders, accumulating work-in-process, contributions-in-aid of construction, as well as retirements. Participants will learn about expenditures such as materials, labor, transportation, and overhead. In addition, the course will provide valuable information on work order close out, unitization, and continuing property records. Participants will gain an understanding of:

    • Describe the purpose behind work order accounting
    • Explain how to account for work-in-process
    • Implement effective work order closeouts
  • Utility Accounting Series 5 – Account Receivables and Payables
  • This session 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