283.G1 Work Order Accounting
For almost all electric cooperatives and utilities, their biggest investment is the electric infrastructure assets including poles, wire, transforms needed to deliver electricity. It’s a complex process to take raw materials, labor and overheads and convert them to our organization’s largest asset. This workshop will provide an overall understanding of the Work Order system, how the investment gets paid for, and an exploration of numerous components within the Work Order system.
· Gain and understanding of 740c codes including new construction, system replacements, and retirement of plant. What is a work order, unit, assembly and CPR? Understand when to capitalize costs or expense them. What’s so special about special equipment? What about depreciation? What is the impact of using contract labor versus in house labor?
· Not only is the work order accounting system complex, it’s expensive. How are we going to pay for this infrastructure investment? What about repairs and maintenance? And storms? Or Federal Emergency Management Agency (FEMA) payments from a declared disaster? How about contributions in aid of construction (CIAC)? How do rates recover all these costs?
· When does work order needs to be set up? What do I need to know about a staking sheet?Other topics will include inventory, overhead allocations and factors, closing of work orders, stores expense,standard costs, and internal controls.
Together, we will step through this intricate process to understand the components, as well as understand how it shows up on the monthly billing statement to the consumer!
Meet your Instructor
Teri is passionate and experienced in providing education, training and consultative services to electric utilities. She has over 20 years of experience working in and with utilities across the nation to help solve their business needs. Teri’s knowledge comes from a deep understanding and work in the areas of finance and accounting. She is a skilled planner ranging from the broad outcomes of facilitating strategy sessions, to the details of building a roadmap to the future, and forecasting the financial impacts. She is an engaging high energy instructor using interactive content designed for adult learning. Teri’s experience is both at the National level as well as CFO for a utility as well as work in other industries. She has an M.B.A. in finance, a B.S. in accounting, and is completing a Doctor of Education in adult education. Teri is an experienced instructor that brings her experience in accounting and adult education to every class she teaches
The tuition for this course is $225 per participant and includes course materials and lunch. Your cooperative will be invoiced upon completion of the course. If you have any additional questions, please contact Lauren Dodson at firstname.lastname@example.org.