UFANFP
UTILITY FINANCE AND ACCOUNTING FOR THE NON-FINANCIAL PROFESSIONAL
 

NEW ORLEANS  —  May 15 - 17, 2013

LAS VEGAS  —  May 28 - 30, 2013

LAS VEGAS  —  Oct 16 - 18, 2013

HOTEL AND CITY INFORMATION L

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 $42 for the seminars in May and $55 for the seminars in October.

Call  to make the room reservation (these codes will not work on their website) and tell them one of the following codes:
                    
                       May 28-30 Seminar GSFA527
                       Oct  16-18 Seminar GSFA101
                     

If you are unable to find a room, email us we may have a solution.

                      
NEW ORLEANS

Harrah's New Orleans
228 Poydras Street
New Orleans, LA 70130
(800) 427-7247

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. Rates for our group are $169.

If you call for a room reservation mention one of the code below:

For the May 15-17, 2013 Seminar S05FAC3 or use this link on the web

Harrah's Link for FAI May 15 Seminar

If you are unable to find a room, email us we may have a solution.
 

INSTRUCTORS: Dr. Joel Berk and Dr. Robert Vigeland.

CLE CREDIT: available in most states

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 Financial Statement Analysis - Return on Equity - Total Shareholder Return The Utility's Four Sets of "Books" - GAAP, Tax, Rates, Managerial - Cost of Service Regulation - Rate Base, Operating Expenses, Allowed Return - Above-the-line versus and Below-the-Line Expenses Mock Rate Case - Advertising - Take or Pay Contracts Ethics Considerations COCKTAILS Homework: Financial Statement Analysis 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 Present Value Analysis Present Value Exercise Shareholder Value - Theory - Income versus Shareholder Value Maximization - Risk Considerations - How to Make Decisions Accounting for Utility Plant - Straight Line Depreciation - Accelerated Depreciation - Capitalization Versus Expense - Methods of Capitalizing More or Less - Which is Better for the Utility

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.

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