Public Utility Accounting

Master the specialized accounting requirements of a regulated public utility by applying industry-specific rules and systems. This course explains the prescribed chart of accounts, the use of work orders, retirement units, and continuing property records, and then addresses asset retirement obligations and rate-sensitive reporting. You will also account for operating expenses, materials and supplies inventory, payroll, bond transactions, and unbilled revenue, building a comprehensive framework for public utility accounting.
Format

PDF Course

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Duration

2 Hours

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Course Information

Author: Steven Bragg
Course Number: AC1144

Learning Objectives
  • Recall the type of fund within which a public utility’s activities are recorded.
  • Identify the source, usage, and contents of the Uniform System of Accounts.
  • Specify the characteristics of a capital asset.
  • Recall the rules for recognizing the cost of plant.
  • Recall the accounting for an asset retirement.
  • Specify the accounting rules for the capitalization of financing costs.
  • Identify the different types of assets within a public utility.
  • Recall the contents of continuing property records.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: February 2025
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.