UFAA
UTILITY FINANCE AND ACCOUNTING FOR ATTORNEYS
 

SAN FRANCISCO  — May 5 - 7, 2010

LAS VEGAS  — May 11 - 13, 2010

LAS VEGAS  — October 13 - 15, 2010

HOTEL AND CITY INFORMATION

LAS VEGAS

Golden Nugget
129 East Fremont Street
Las Vegas NV 89101
(800) 634-3454

We have reserved a block of rooms at the hotel where the seminar will be held. Mention you are attending FAI's seminar. Call early. The block of rooms well be held open until until a few weeks before the seminar. This is an AAA four diamond hotel but has a low rate since it is during the week and we negotiated the rate. Rates for our group are $45 per night in May, $65 in October.

SAN FRANCISCO

SF State Downtown Campus
835 Market Street (near 4th Street)
San Francisco, CA 94103

In San Francisco we have not arranged any special rates with hotels, nor have we blocked out any rooms. There are many hotels in walking distance. Please make your arrangements early. If you are unable to find a room, contact us, we may have a solution.

CLE CREDIT: available in most states

To provide a working understanding of finance and accounting as applied to both the regulated utility and non-regulated companies.

Upon completion of the seminar, participants will be able to:
- Understand accrual accounting
- "Read" an annual report of a company
- Calculate key financial ratios
- See the link between finance and accounting and the rates a utility needs to charge
- Understand how a utility makes money now and what needs to be done for the future
- Analyze whether shareholder value is being created as opposed to net income

APPROACH:

Lecture and discussion with a note-taking outline provided to each participant. Extensive use of:
- A non-debit and credit approach
- Problem solving sessions
- Annual Report of a Utility Company
- Homework assignment
- Interaction with other participants
- Group case work

OUTLINE OF THE SEMINAR:

DAY 1 — 8am to 4pm Introduction Basic Accounting Concepts - Balance Sheet - Income Statement - Regulatory Assets - Stranded Costs Financial Statement Analysis - Return on Equity - Return to Common - Book Value and Market Value - Shareholder Value Created The Utility's Four Sets of "Books" - Financial Reporting - GAAP - Income Tax Accounting - Managerial Accounting - Rate Regulation Mock Rate Case - Advertising - Take or Pay Contracts Ethics Considerations COCKTAILS Homework: Financial Statement Analysis

DAY 2 — 8am to 4pm Modifications to Rate of Return Regulation  - Adjustment Clauses, Trackers, Riders, Deferrals - Rate Freezes, Decoupling - Preapprovals - Formula Ratemaking Accounting for Utility Plant - Straight Line Depreciation - Accelerated Depreciation - Capitalization Versus Expense - Methods of Capitalizing More or Less - Which is Better for the Utility Present Value Analysis Present Value Exercise Shareholder Value - Free Cash Flow - Income versus Shareholder Value Maximization - Risk Considerations - How to Make Decisions

DAY 3 — 8am to 3pm Taxes - Temporary Differences - Deferred Taxes (Normalization) Cost of Capital - Weighted Average Cost of Capital - Risk Premium Approach - Discounted Cash Flow (DCF) Method Capital Budgeting - Cash Flow as affected by Taxes & Rate Regulation - Which Discount Rate to Use - Creating Shareholder Value Capital Budgeting Case Conclusions

For a more detailed outline of the topics see Detailed Outline.

To see comments from people who have already attended this seminar, see our testimonials.

For a list of organizations who have sent people to our classes, look at our previous participant list.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -