Public Utility Accounting

The accounting for a public utility is tightly regulated, since the resulting information is used to develop rates for its customers. In the Public Utility Accounting manual, we discuss the chart of accounts to be used, as well as the use of work orders, retirement units, and continuing property records. The manual also addresses asset retirement obligations, plus the proper accounting for operating expenses, materials and supplies inventory, payroll, bond transactions, unbilled revenue, and much more. The manual is designed to give the accountant a detailed look at the accounting requirements for a public utility.