to change your default territory and to access selected content. There are, however, more similarities than This publication does not seek to describe all IFRSs applicable to power and utilities entities. Power & utilities technical update webcast. Commodity sales and purchases - the . Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Furthermore, some cities and power companies … 2 AMERICAN PUBLIC POWER ASSOCIATION In-house Training Class: Public Utility Accounting Timing: 2 days (typically 8:30 a.m. – 4:00 p.m. each day) Accreditation: Recommended CEUs 1.3/PDHs 13/CPEs 15.6; Field of Study: Accounting COURSE OVERVIEW This course highlights the development of a utility accounting system that is compatible with Federal Separating the revenues (utility services) and non-revenue (infrastructure additions) portions of a contract is allowed under ASC 606-10-15-4. Deloitte & Touche LLP’s Power, Utilities & Renewables group covered the following topics: The Q2 Power, Utilities & Renewables Quarterly Accounting update webinar was held on Monday, June 22. a ‘series’), as well as the effect of the new standard on alternative revenue programs, requirements … Discover Deloitte and learn more about our people and culture. Here you will find the issues identified and further discussion. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Yesterday’s tools cannot deliver what today’s customers demand. Key issues facing power and utilities companies as they implement IFRS for the first time in their accounts from January 2005 onwards include: applying . Electric utilities are monopoly service providers and therefore subject to unique financial requirements and regulations. Certain services may not be available to attest clients under the rules and regulations of public accounting. The FERC USOA is similar to most other prescribed systems of accounts and is the most widely used and referenced accounting system by the nation's electric utilities. View a sample of this title using the ReadNow feature. Click here Register now A modern experience with real-time updates, predictive search functionality, PwC curated content pages and user-friendly sharing features, Viewpoint helps you find the insights and content you need when you need it. Guide to accounting for power and utilities companies has been saved, Guide to accounting for power and utilities companies has been removed, An Article Titled Guide to accounting for power and utilities companies already exists in Saved items. Please enable JavaScript to view the site. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. All rights reserved. Commission (FERC) prescribed Uniform System of Accounts (USOA). Power and utilities (P&U) entities will need to change certain lease accounting practices when implementing the new leases standard, Accounting Standards Codification (ASC) 842, Leases, issued by the Financial Accounting Standards Board (FASB or Board). The expenses are incurred over the course of the reporting period, calculated, and payment is rendered. We are pleased to present our 13th annual Accounting, Financial Reporting, and Tax Update for the power and utilities (P&U) industry. The new standard indicates that a contract can … This quarterly webinar offers a guide to accounting and regulatory considerations for utilities and power companies. Subscribe to receive invitations to Quarterly Accounting Webcasts by email. Deloitte & Touche LLP’s Power, Utilities & Renewables group covered the following topics: The Q3 2020 Power, Utilities & Renewables Quarterly Accounting update webinar was held on Monday, September 21. March 8, 2016. The duration and extent of this impact remains uncertain. Guide to accounting for power and utilities companies A quarterly webinar on accounting and regulatory issues This quarterly webinar offers a guide to accounting and regulatory considerations for utilities and power companies. EY’s Customer and Billing Transformation solution helps power and utilities companies achieve a competitive advantage by adopting the capabilities and culture needed to support the transition to more customer-centric business models. including the public utility industry are frequently considered fields for specialists. The Power and Utility Entities Revenue Recognition Task Force has been created to address issues which may arise due to FASB's new revenue recognition standard. This foundational course is designed around the Federal Energy Regulatory Commission (FERC) Uniform System of Accounts (USoA), covering every relevant FERC account. See Terms of Use for more information. The accounting practices of utility companies differ in many ways from those of other businesses; the use of systems of accounts prescribed by regulatory authorities is not the least of the differences. Please note: If your company uses single sign-on with PwC, you may be taken to your internal portal where you should login using your company SSO credentials. Please see www.pwc.com/structure  for further details. © 2021. We look at some of the main developments in this context, with a selection of reporting topics that are of most practical relevance to the activities of power and utilities companies. , new legislation, environmental initiatives, regulatory pressures, and sewage this title using the feature! A process of allocation, not valuation for timely, relevant accounting and regulatory considerations utilities. S tools can not deliver what today ’ s customers demand access selected content ( utility services and! Accounting Webcasts by email utilities such as electricity, water, waste,. By using utilities such as electricity, water, waste disposal, heating, and payment is.! Remains uncertain some utilities will have to take very large charges share a sneak peek life... 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