UFAA
UTILITY FINANCE AND ACCOUNTING FOR ATTORNEYS
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SAN FRANCISCO
— May 5 - 7, 2010
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LAS VEGAS — May 11 - 13, 2010 |
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LAS VEGAS — October 13 - 15,
2010
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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
LEARNING OBJECTIVE:
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 |
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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 |
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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
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| 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 |
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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.
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