UFANFP
UTILITY FINANCE AND ACCOUNTING FOR THE NON-FINANCIAL PROFESSIONAL
 

LAS VEGAS    —  May 14 - 16, 2008

SAN FRANCISCO — June 18 - 20, 2008

LAS VEGAS  — July 9 - 11, 2008

ATLANTA — October 15 - 17, 2008

LAS VEGAS  — October 27 - 29, 2008

HOTEL AND CITY INFORMATION

LAS VEGAS --  May, July and  Oct, 2008

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 at the hotel. Call early. The block of rooms is usually held open up to four weeks before the program.  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 $89 per night in May, $79 in July  and $99 in Oct.

ATLANTA -- Oct, 2008

Atlanta Marriott Suites-Midtown
35 14th Street NE
Atlanta, GA 30309
(800) 228-9290

We have reserved a block of rooms at the hotel where the seminar will be held. Mention you are attending FAI's seminar at the hotel. Call early. The block of rooms is usually held open up to four weeks before the program. Rates for our group are $179 per night.

SAN FRANCISCO -- June, 2008

San Francisco State University Downtown Center
835 Market Street, 6th Floor  -- between 4th and 5th Street
San Francisco, CA 94103-1901

There are many hotels within two blocks. We have not arranged any special rates with hotels, nor have we blocked out any rooms. Please make your arrangements early. If you are unable to find a room, call us we may have a solution. To find a hotel nearby try a site like Travelocity and put in the address of the seminar site and sort by distance.

INSTRUCTOR: Dr. Joel Berk

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.

LEARNING OBJECTIVE:

To provide a working understanding of finance and accounting as applied to both the regulated utility and non-regulated companies (competitors, customers and the future utility company).

Upon completion of the seminar, participants will be able to:
- Understand accrual accounting
- "Read" an annual report of the company or its customers
- Calculate key financial ratios
- See the link between finance and accounting and the strategic plans of the company
- 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
- Do a capital budgeting analysis (engineering economics)

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
- Homework assignment
- Actual utility financial statements
- 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: Transactions Analysis

DAY 2 — 8am to 4pm Accounting for Utility Plant - Straight Line Depreciation - Accelerated Depreciation - Capitalization Versus Expense - Methods of Capitalizing More or Less - Which is Better for the Utility Taxes - Temporary Differences - Deferred Taxes (Normalization) Cost of Capital - Weighted Average Cost of Capital - Risk Premium Approach - Discounted Cash Flow (DCF) Method Cost of Capital Case

DAY 3 — 8am to 3pm Present Value Analysis Present Value Exercise Shareholder Value - Free Cash Flow - Income versus Shareholder Value Maximization - Risk Considerations - How to Make Decisions Capital Budgeting - Cash Flow as affected by Taxes & Rate Regulation - Which Discount Rate to Use - Creating Shareholder Value Capital Budgeting Case Conclusions

This seminar has a heavy focus on competition as shown by the
subtopics within each of the outline topics.

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