Accounting and Finance

 

Grow the accounting and finance skills of your employees so you have a strong team, a strong organization and a strong future...

 

Utility Accounting and Financials (Form 7) – Basics

Federal Energy Regulatory Commission (FERC) Accounting is the required method of accounting and reporting for cooperatives and utilities. This entry level class will help newer accounting and finance employees with industry concepts and unique handling of areas. This will not be a boring, lecture style class. You will be engaged and involved in learning the fundamentals of the Form 7.

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Utility Accounting and Financials (Form7) – Advanced

For more seasoned accounting and finance individuals, this course will take concepts to a more detailed and complex level. Correlations, analysis and decision making will be core components of the work.

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Financial Ratios and Tools for your cooperative

Do you cringe at the thought of being asked how to change or fix a ratio at your cooperative? Ever felt  intimidated by the complexity of some ratios and hope you are never asked about them? Gain knowledge and confidence to be ready to discuss ratios, what drives the ratio, and the impact decisions have on them. We will dig into fundamental concepts through an interactive workshop that will guide you to a solid understanding of the time value of money, risk and return, cash flows, cost of equity, capital and long-term planning. By the end of this workshop you will be ready to use and explain ratios in decision making at your cooperative. And, no more cringing!

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Strategic Planning

Where is your organization heading in the next 3, 5 or even 10 years? Planning is how we move our organization from one place to the next.  The starting point are some overarching strategies.  Whether staff participate or not in setting the strategic objectives, they are key to making things happen.  In this workshop we will discover how to move objectives to initiatives and then to execution.  Understand the impact the employees have in determining the future of your organization.

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Financial Planning for your cooperative

Budgets, forecasts, capital plans… these are the key financial areas that drive the future of our finances.  Learn to put together a comprehensive financial approach by doing short term, long term and capital planning for your organization.  Combined these items, a financial policy and a financial philosophy will position your organization for a solid financial future.

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Equity Management & Capital credits

The interaction between the equity components ultimately drives the ending equity result. Let’s look at each of the components, ratios and analysis that can be used in determining appropriate levels for each. Then let’s bring it together with the Goodwin formula where the strategy of your equity position comes to life. Gain a solid understanding of what it will take to move your equity position, rate impacts and other considerations.

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Cost of Service Study and Rate Design Basics

Do you feel like a cost of service study is a completely foreign process? What do you need to look for in the final report? How should the information be used going forward? We will discuss the basic mechanics of what a cost of service study does and what it is. We will also discuss the formation of rate, concepts, and what to watch out for when it comes to rate design.

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Policies, bylaws and articles of incorporation

From a financial perspective, what are commonly adopted financial policies for  electric utilities?  What are key considerations for policies, bylaws and articles of incorporation that can impact the finances of our organization?

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Process Improvement

Electric Cooperatives and Utilities use many processes to complete work.  One of the most complex processes is the work order process, where many mini processes come together in a mega process of a closed work order.  From service orders, billing, accounts payable, monthly accounting close to a long list of other processes, come to this workshop to learn about process design, how to approach the re-design of processes and actually get started on mapping your way to better efficiency.

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Flat to Declining Sales Case Study

What happened to the days of new members adding new meters each year, and when that happened, more kWh were sold?  Since the last recession the days of year over year assumed sales and revenue growth are of days gone by.  Meanwhile energy efficiency and energy conservation measures are reducing sales volumes as well.  This new normal requires a new way of thinking about our revenue needs and margins.  Come to this workshop to examine your revenue, sales and margins needs.

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Becoming a Taxable Cooperative Case Study

What happens if my cooperative becomes taxable?  What are the financial impacts of being a taxable electric cooperative?  This workshop will explore the various methods cooperatives have used to set up additional businesses ventures, partnerships and investments.  We will explore the financial impacts of the various ways businesses outside of the IRS rulings for electric cooperatives can have an impact. Fear not! Understanding the implications of various options will help as you consider options, even the possibility of becoming a taxable cooperative.

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