Power & Utilities Accounting, Financial Reporting, and Tax Update

January 2017

This annual publication provides an update on accounting, tax, and regulatory matters relevant to the power and utilities industry.

January 2017 update

This publication discusses accounting, tax, and regulatory matters that P&U entities will need to consider as a result of these changes, including updates to SEC, FASB, and tax guidance, and focuses on specialized industry accounting topics that frequently affect P&U companies, including rate-regulated entities. We have expanded several sections in this year’s publication that concentrate on accounting and reporting considerations related to the new leases and new revenue standards, including the discussion of those specific industry matters that remain outstanding with the AICPA’s Power and Utility Entities Revenue Recognition Task Force.

Certain sections of this publication are designed to help you understand and address potential challenges in accounting and reporting related to topics on which the FASB has recently issued (1) proposed guidance or (2) final standards that are not yet effective or available for adoption. Our publication discusses such proposed and codified standards and highlights nuances that could affect our industry.

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