LAS VEGAS: October 3-5, 2018

BOSTON: October 29-31, 2018

LAS VEGAS: May 22-24, 2019

SAN FRANCISCO: October 9-11, 2019

LAS VEGAS: October 23-25, 2019

Register Me



Golden Nugget
129 East Fremont Street
Las Vegas NV 89101

We have reserved a block of rooms at the hotel where the seminar will be held.  Book early. The block of rooms well be held open until a few weeks before the seminar. This is an AAA four diamond hotel but we negotiated a low weekday rate. To get the rate call (800) 331 5731 and use the one of the codes below to get our group rate. You will probably want to make a reservation arriving the day before the seminar.

$89 plus resort fee per night in May and $99 plus resort fee in October

Oct 3 – 5, 2018 Seminar Code: GSFAIO1

May 22-24, 2019 Seminar Code: FAI May 2019 #1

Oct 23-25, 2019 Seminar Code: FAI October 2019 #1

If you are staying at the hotel, the newer tower is the Rush Tower. In any case, when you check in you should ask for a room away from Fremont Street (which can be noisy at night.)

We will have a Continental Breakfast each morning and Lunch will be provided.

Class begins at 8 AM ends at 4 PM (except last day we end at 3).

Dress is casual but you could bring a sweater or jacket as the temperature in the meeting room may vary. Also please bring a yellow highlighter.




Omni Parker House
60 School Street
Boston, MA 02108


We have reserved a block of rooms at $289 per night  CLICK HERE FOR HOTEL RESERVATION

We are providing lunch each day and we hope you can join us for cocktails after class the first day.

Class begins at 8 AM and ends at 4 PM (except the last day we end at 3).

Dress is casual but you could bring a sweater or jacket as the temperature in the room may vary. Also please bring a yellow highlighter.



In San Francisco, our seminar will be held at a Conference Facility. We have not blocked out hotel rooms but there are many hotels nearby. Please check on a hotel website such as hotels.com for help.

San Francisco State University Downtown Campus
835 Market Street (Near Powell at the Westfield Centre)
San Francisco, CA , 94103

Enter at 835 Market Street and take elevator to 6th Floor.



Day 1 — 8 AM to 4 PM



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 Optional 4:30 -5:30


Day 2 — 8 AM to 4 PM

Modifications to Rate of Return Regulation
– Adjustment Clauses, Trackers, Riders, Deferrals
– Rate Freezes, Decoupling
– Pre-approvals
– Formula Ratemaking


Present Value Analysis


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 — 8 AM to 3 PM

– Temporary Differences
– Deferred Taxes (Normalization)


Cost of Capital
– Weighted Average Cost of Capital
– Risk Premium Approach
– Discounted Cash Flow (DCF) Method


Capital Project Analysis Review Case
– Cash Flow as affected by Taxes & Rate Regulation
– Which Discount Rate to Use
– Creating Shareholder Value




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