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The Work Order Process and Depreciation

The Work Order Process and Depreciation

Monday, December 02, 2024 9:00 AM - 4:00 PM UTC

The Work Order Process and Depreciation

TEC Georgetown Training Facility, Georgetown, TX  
Monday, December 02, 2024 9:00 AM - 4:00 PM   iCalendar UTC

DECEMBER 2 • TEC GEORGETOWN TRAINING FACILITY

Register by November 25.

Monday 9 a.m. - 4 p.m.

Net utility plant in service is critical to an electric utility. The key to understanding the primary asset owned and operated by an electric cooperative is to understand the work order and overall plant accounting system. This course is designed to provide a detailed level of understanding of the entire process, how to know the processes are functioning properly and how to address special problem areas. 

Registration Fees
Member: $395
Business Alliance Program Member: $395
Non-Member: $495
 

Class limited to 26 attendees.

Cancellation Policy
Cancellations received three weeks prior to the start of the workshop are fully refundable. Cancellations received two weeks prior to the start of the workshop will be issued a refund minus a $175 cancellation fee. Substitutions are accepted. Cancellations the week prior and no shows are responsible for paying the full registration fee.

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Location: TEC Georgetown Training Facility Georgetown, TX
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DECEMBER 2 • TEC GEORGETOWN TRAINING FACILITY

Register by November 25.

Monday 9 a.m. - 4 p.m.

Net utility plant in service is critical to an electric utility. The key to understanding the primary asset owned and operated by an electric cooperative is to understand the work order and overall plant accounting system. This course is designed to provide a detailed level of understanding of the entire process, how to know the processes are functioning properly and how to address special problem areas. 

Registration Fees
Member: $395
Business Alliance Program Member: $395
Non-Member: $495
 

Class limited to 26 attendees.

Cancellation Policy
Cancellations received three weeks prior to the start of the workshop are fully refundable. Cancellations received two weeks prior to the start of the workshop will be issued a refund minus a $175 cancellation fee. Substitutions are accepted. Cancellations the week prior and no shows are responsible for paying the full registration fee.

COURSE INFORMATION

Course Description: Net utility plant in service is critical to an electric utility. The key to understanding the primary asset owned and operated by an electric cooperative is to understand the work order and overall plant accounting system. This course is designed to provide a detailed level of understanding of the entire process, how to know the processes are functioning properly and how to address special problem areas. 

Learning Objectives:
• Understand and recognize the unique elements of the overall plant accounting and depreciation system. 
• Have a detailed understanding of the overall work order processes for determining includible costs, establishing and closing our work orders, updating continuing property records, capitalizing general plant items, and retiring plant in service, including the financial statement impact of these transactions. 
• Have a more detailed understanding of the purpose of depreciation, the depreciation rates used and impact of using rates that may be too long or too short. 
• Know how to identify and correct problems in the work order plant accounting system. 

Topics to be Covered:
• Overall purpose of work order accounting. 
• RUS/FERC requirements.
• Clearing accounts – determining includible costs (direct and indirect). 
• Record units and continuing property records. 
• Special areas, such as standard costs, construction contracts, special equipment and general plant. 
• Depreciation considerations. 
• Process for recording the retirement/disposition of all utility plant in service. 
• Knowing when the work order system is not functioning properly. 
• Early retirement of meters. 
• Storm damage cost accounting. 
 

Instructor: 
Tammy Lehman, Audit Consultant
Bolinger, Segars, Gilbert & Moss