PowerPlant Retirements

How to Register: Contact Amy Arra at aarra@pwrplan.com or (770) 937-3028.

When:   February 22-23, 2012 (8:30 am February 22 – Noon February 23)

Where:  PowerPlan Training Center (Atlanta Office) Atlanta, Georgia

Registration Fee: $900

CPE Credit: 12 hours in the Accounting field of study

Intended Audience: This is a special offering generally for head of asset accounting or a supervisor. The intent is to strategically address retirements which, like the weather, are often talked about but seldom is something done. This is for an indepth understanding and then a program for doing something.

Description: 
The course covers 3 areas associated with retirements:

1. Insuring your company is capturing and processing its retirements.
2. PowerPlant alternatives for retirements including – indexing, curves, specific identification, amortization options, estimated preliminary retirements, timing issues, gain/loss, intercompany, etc.. Not just the how to, but pros and cons, where and when.
3. Best practices and practical approaches to retirement processing to minimize errors, reflect realistic costs, improve performance, and provide meaningful monitoring.

Topics include:

• Understanding the Impact and Importance of Retirements.
  • Accounting compliance
  • Income taxes impacts and benefits
  • Property taxes impacts and benefits
  • Regulatory – reserves, lives, recovery, and risks
• Capturing Retirements
  • WMS feeds
  • Replacements
  • Non-WMS work
  • Monitoring – WO/Project Level
  • Monitoring – Macro Level
  • Retirement Problems
• Retirement Options and Their Proper Use
  • Background condition and breakdown of asset records
    • Mass vs. specific
    • Impact of locational information
    • Role of class codes
    • Associated retirement units and substitution
    • Retirement matching criteria and matching issues
  • Retirement Options
    • Specific identification
      • How, when appropriate
    • Using the system to find a vintage:
    • Curve (and Fifo) usage
      • How, when appropriate
      • Settings and procedures needed, warnings
    • Current Values Index Retirements
      • When and where appropriate
      • Properly using basis items
    • HW/Curve Methods
      • Mathematics
      • When, where, and if appropriate
    • “Amortization” methods and issues 
      • Options for end of life
      • Monthly or annual
      • Salvage and zero reserve
• Special Retirement Issues
  • Gain/loss and timing
  • Related assets
  • Estimated preliminary retirements
• Practices and Practical Approaches
  • Setting of monitoring (Examples)
  • Setting up Alerts (Examples)
  • Review of asset records
  • Properly increasing retirement dollars
  • Reducing mismatches
  • Reviewing retirement results and activity
  • Avoiding common problems 

Instructors:   Bryan Barnes and Mike Plunket