AN Iowa REC MEMBER BENEFIT

Career paths in electrical cooperative accounting

Structured, NASBA-certified CPE built for Iowa team members who provide reliable service to their customers — no matter your level of experience.
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NASBA-certified CPE

Self-paced, on demand

Taught by a CPA experienced
in the power and utilities industry

Iowa REC member pricing

Which path is right for you?

Four tracks, built to add to your career skills and provide value to your organization.

New Cooperative Accounting Professional

You're new to electric co-op accounting, or moving into finance from another part of the co-op. Start with how the industry actually works.

Experienced Accounting Professional

Designed for individuals who handle the routine elements of the business and wish to dive deeper into non-routine areas of managing the financials and member rates.

AI Applications for Co-op
 Finance

Practical AI for the finance office — reporting, board communications, and what and what not to include in a public models.

Understanding the Electric Business


             Build industry knowledge - designed for team members in accounting and finance, and governance members. 

New Electric Co-op Accounting Professional

The foundation every new co-op finance professional needs: how the electric business works, the RUS chart of accounts, how to read your own financial statements, and insights into preparing effective board reports.
  • Comprehensive Introduction to the Electric Industry
  • RUS Accounting 101
  • Understanding and Reviewing Financial Statements
  • Using Key Performance Indicators to Drive Performance
  • 4 courses | 6.0 CPE hours | Basic level
  • Career Path price - $397 | 20% Iowa REC member discount applied at checkout
Built for new accounting and finance staff, career changers, and non-accounting co-op staff moving into the finance area.

The career path learning objectives include:
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  • Explain how electric co-ops are structured, regulated, and how electric rates are developed
  • Apply RUS accounting fundamentals and the Uniform System of Accounts in real co-op environments
  • Read and interpret co-op financial statements with confidence and clarity
  • Understand how costs flow into revenue requirements and customer rates
  • Use key performance indicators to support better financial and operational decisions

  • Understanding how the electric industry is governed and impacts your co-op's operations
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Experienced Co-op Accounting Professional

This career path builds on your day-to-day work with courses on advanced financial analysis, using ASC 980 regulatory accounting to smooth rate recovery, managing cash reserves and your bond rating, and long-term planning.
  • Strategies to Optimize Patronage Capital and Cash Reserves
  • Mastering Regulatory Assets and Liabilities Using ASC 980
  • The Keys to Allocating Interdepartmental Costs
  • Advanced Electric Construction Accounting
  • Accounting for Asset Impairments Using FASB Standards
  • 5 courses | 10.5 CPE hours | Intermediate level
  • Career Path price - $597 | 20% Iowa REC member discount applied at checkout
Built for experienced accounting and finance staff, controllers, and CFO's.
The career path learning objectives include:
  • Implement regulatory accounting under ASC 980 to stabilize rates and manage financial volatility
  • Handle advanced construction accounting scenarios — AROs, impairments, leases, storm damage, and jointly-owned plant
  • Apply ASC 360 to record asset impairments and recover costs through rates
  • Understand how costs flow into revenue requirements and customer rates
  • Calculate target reserve levels, build defensible financial and patronage capital policies, and understand the credit metrics rating agencies use to evaluate debt
  • Interpret and communicate key performance indicators to support financial planning and board decision-making
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Construction Accounting Career Track

Master construction accounting under RUS standards — from work orders and standard units through advanced scenarios, fixed asset records, and work order analysis.
  • Mastering Electric Construction Cost Accounting Under RUS Standards
  • Electric Construction Accounting: Advanced Topic
  • Continuing Property Records and Fixed Asset Accounting
  • Work Order Analysis
  • 4 courses | 8.5 CPE hours | Basic - Intermediate level
  • Career Path price - $547 | 20% Iowa REC member discount applied at checkout
Built for accountants, controllers, construction managers, and finance staff responsible for recording construction costs.
The career path learning objectives include:
  • Apply theRUS Uniform System of Accounts to construction costs and fixed asset recording
  • Handle advanced construction scenarios — AROs, impairments, leases, storm damage, and jointly-owned plants
  • Build and apply standard units, overhead rates, and work order processes in the general ledger
  • Establish and maintain continuing property records that support accurate rate-making
  • Classify project costs correctly to ensure full and defensible recovery in customer rates
  • Walk-through the work order process from beginning to end to understand it and evaluate the process compared to your organization

Understanding the Electric Business

Build real industry knowledge — fast. Four courses designed for non-financial cooperative professionals covering how the electric industry works, how to read financial statements, how KPIs drive decisions, and how electric rates are built.
  • Comprehensive Introduction to the Electric Industry
  • Understanding and Reviewing Financial Statements
  • Using Key Performance Indicators to Drive Performance
  • Co-op and Utility Rate Study Fundamentals
  • 4 courses | 5.5 CPE hours | Basic level
  • Career Path price - $397 | 20% Iowa REC member discount applied at checkout
Foundational knowledge for new co-op accounting and finance staff, Boards, and others interested in understanding more about the electric industry.

The career path learning objectives include:
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  • Explain how electricity is produced, delivered, and priced — and how your co-op fits into the broader industry
  • Interpret financial statements with confidence and ask informed questions instead of relying solely on staff summaries
  • Monitor the KPIs that signal financial health and operational performance — and know when the numbers warrant deeper scrutiny
  • Understand how electric rates are built and evaluate rate study recommendations with a clear framework
  • Collaborate more effectively across departments because you understand how the business fits together

  • Earn 5.50 NASBA CPE hours
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Artificial Intelligence Applications for Co-op Finance

Build practical AI skills for the finance office — from foundational concepts through board report automation, advanced prompting, and team implementation. No coding or technical background required.
  • How AI Is Transforming Financial & Management Reporting
  • AI-Powered Financial Writing: Board Reports, Policies & Professional Communications
  • AI-Powered Finance & Accounting: Advanced Skills for Co-op & Co-opp Professionals
  • 3 courses | 5.5 CPE hours | Basic level
  • Career Path price - $347 | 20% Iowa REC member discount applied at checkout

    Built for all levels of accounting and finance staff.

The career path learning objectives include:
  • Use AI to analyze financial statements, identify trends, and generate insights from your data
  • Apply prompt formulas to generate board reports, variance explanations, and management communications
  • Verify AI-generated content using systematic checklists to catch hallucinations and errors
  • Develop AI governance policies and a team rollout strategy for your organization
  • Build agentic AI workflows that automate repetitive finance tasks
  • Develop an AI security policy to set guidelines and protect sensitive information

Russ Hissom

Russ Hissom is a national co-op and utility accounting and rate expert with 35+ years of hands-on experience helping electric cooperatives and utilities improve accounting processes, strengthen financial performance, and design fair, sustainable rates. He has provided expert witness testimony before FERC, state commissions, and in arbitration proceedings — and has trained 1,000+ utility and cooperative finance professionals nationwide.

Frequently asked questions

How is CPE credit reported?

Each course includes a NASBA-compliant final exam. Pass it and your CPE certificate is issued immediately and stored in your account. You report the credit to your state board yourself — Iowa's board accepts sponsors on the National Registry.

How long do I have access? 

The NASBA standards require finishing the course for credit within 12 months from the purchase date.

Do I receive a certificate on completion?

Yes. You receive a Certificate of Completion documenting your CPE hours on completion of the final exam, meeting NASBA documentation standards for your continuing education records.

Not sure where to start?

Tell us the role and we can help you decide the track. Group training is also an option - you can use one of the career tracks on this page or design your own menu of courses.

Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org .

Refund & Cancellation Policy

Requests for refunds must be made in writing within 30 days of purchasing the course. No refunds will be granted after the qualified assessment has been completed. For any concerns, please contact us at 608-628-4020 or at russ.hissom@utilityeducation.com .

Legal Note

Course materials are provided for informational and educational purposes only. They do not constitute legal, accounting, or professional advice. © 2026 Utility Accounting & Rates Specialists, LLC. All rights reserved.