About this course
This course is for users who expect to work with AROs and FIN47/FAS143/ASC410-20 accounting in PowerPlan. You will obtain an understanding of the Asset Retirement Obligation module and ARO processing in the application. You will learn PowerPlan-specific definitions, decisions, and requirements, along with a basic understanding of PowerPlan ARO calculation options and methodology.
Topics:
- Overview, Terms and Definitions
- Decisions and Rate Types
- Structure and Data Requirements
- Life Cycle
- Creating an ARO
- Layers and Streams
- Layer Revisions
- Adjustments
- Settlements
- Asset Adjustments and Retirements
- Month End and Year End Processing
- Forecasting
- Reports
- Queries
- Exercises
Objectives:
At the end of this course, you will be able to:
- Describe the FAS143/FIN47/ASC410-20 requirements
- Explain PowerPlan specific ARO assumptions and terminology.
- Describe the ARO lifecycle from creation to close.
- Practice using Forecasting and Reporting tools for ARO analysis.
- Evaluate different PowerPlan methodologies for ARO estimation.
Intended Audience:
Users who expect to work with AROs and ASC410-20(FIN47)/ASC980 (FAS143) accounting, or any user who wants to understand the setup, reporting, calculation, or administration of AROs.
Additional Information:
Prerequisites: Basic understanding of Fixed Assets, Depreciation, as well as Finance and Accounting. Attending the Fundamentals of PowerPlan Fixed Assets and Projects course is recommended.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Live or Group Internet Based
CPE Credits = 8 credits possible (Accounting)
