N-1Nova Scotia Power Inc. - Accounting Policy and Procedure Manual 5/14/2010
30 passages
- 05 The Oracle account number consists of a fourteen digit accounting flex field . The flex field is made up of five segments as shown below. Company Account Activity Cost Centre Project X - XXX - XXX - XXX - XXXX Deleted: User groups sho...
AI summary The text describes the structure of the Oracle account number, which is a fourteen-digit accounting flex field composed of five segments: Company, Account, Activity, Cost Centre, and Project. It also mentions that user groups may develop customized account listings to highlight significant expenditures.
Deleted: Activity Code¶ Major Classification Number Range ¶ ¶ Capital Series 000-099¶ Administration and General Series 100-199¶ Customer Operations Series 200- 251¶ General Admin. and Maintenance Series 252-299¶ Power Production Series 30...
AI summary The text outlines classification number ranges for various business activities within Nova Scotia Power Inc. (NSPI), including administration, customer operations, power production, and retirement activities. It also references accounting flex fields and cost centre codes, with some content redacted.
1 Page 2: [1] Deleted AI141 1/6/2010 5:18:00 PM Major Classification Number Range Activity Code Capital Series 000-099 Administration and General Series 100-199 Customer Operations Series 200-251 General Admin. and Maintenance Series 252-2...
AI summary The text outlines major classification codes and activity ranges for different departments and operations within an organization, including Capital Series, Administration and General Series, Customer Operations Series, and Power Production Series, along with retirement activities.
Accounting flex fields beginning with a 2 (capital) are limited to activity codes which begin with either a 0 (installed cost) or R (retirement). The scope covered by each of the retirement activities (RXX) is the same as the associated in...
AI summary The text outlines the structure and use of accounting flex fields, explaining how different prefixes (such as 0, 1, 2, and 3) are used to categorize activities related to installed costs, retirements, general administration, customer operations, and power production.
AI141 1/6/2010 5:19:00 PM Cost Centre Code Number Range 000-100 201-210 301-400 401-499 500-540 541-899 900-999 + Alphabetic Codes Major Classification Fossil Fuel Generation Customer Operations Page 2: [3] Deleted AI141 1/6/2010 5:20:00 PM
AI summary The text outlines cost centre codes and their number ranges, including classifications such as Fossil Fuel Generation and Customer Operations. It appears to be part of a regulatory document related to accounting and cost management.
11 Example of an Operating Expense Accounting Flex Field
AI summary This text provides an example of an Operating Expense Accounting Flex Field, which is likely used for categorizing and tracking operating expenses in financial accounting systems.
An example of operating accounting flex field without a project number is as follows: Company Account Activity Cost Centre Project 1 - 001 - 204 - 611 - 0000 Company 1 Oracle Financial System complete general ledger Account 001 Regular lab...
AI summary This text provides an example of an operating accounting flex field without a project number, detailing the breakdown of a company account, activity, cost centre, and project information in the context of financial accounting systems.
An example of a building accounting flex field at the Lingan Generating Station is as follows: Company Account Activity Cost Centre Project 2 - 200 - 003 - 301 - S000 Company 2 Oracle Financial System capital identifier
AI summary The text provides an example of a building accounting flex field at the Lingan Generating Station, including a table with columns such as Company, Account, Activity, and Cost Centre Project. It also mentions the Oracle Financial System capital identifier for Company 2.
An example of the accumulated depreciation accounting flex field relating to buildings at the Lingan Generating Station is as follows: Company Account Activity Cost Centre Project 2 - 210 - R03 - 301 - S000 Company Account Activity 2 210 R...
AI summary The text provides an example of an accumulated depreciation accounting flex field for buildings at the Lingan Generating Station, including details such as company, account, activity, cost centre, and project.
The following example demonstrates an accounting flex field for an addition to property, plant and equipment at Point Tupper. Please note that activity 005 - Indirect Costs is used to record costs such as Applied Overhead1 and Allowance fo...
AI summary The text provides an example of an accounting flex field for an addition to property, plant, and equipment at Point Tupper, highlighting the use of activity 005 - Indirect Costs for recording specific construction-related expenses.
12 Other Expenses - Bank Charges (Account 084) The Company expenses related banking costs in the month in which they occur. Stand by fees and letters of credit fees are expensed in the quarter in which they occur. Credit facility fees are...
AI summary The Company expenses banking costs in the month they occur, with stand by and letters of credit fees expensed quarterly, and credit facility fees expensed over their relevant period.
It is the Company's intent to assign foreign exchange costs directly to the end-use accounts based on an estimate of the foreign exchange rate set for the month. However, due to fluctuations in exchange rates throughout the month, and diff...
AI summary The company plans to allocate foreign exchange costs directly to end-use accounts based on monthly exchange rate estimates. However, due to exchange rate fluctuations and timing differences, over or under applied costs may occur and are not reallocated. The U.S. funds bank account balance is translated at month-end, and foreign interest payments are included in foreign interest expense.
POLICIES 07 Expenditures meeting the criteria described in Paragraphs 02 and 03 create a benefit that will be realized by the Company beyond the current year. Accordingly, they should be capitalized. Formatted: Font: Not Italic 1 CI C A H...
AI summary The document discusses the capitalization of expenditures that meet specific criteria, stating that these expenditures create benefits for the company beyond the current year and should be capitalized. It references the CICA Handbook and Section 5300 for further explanation.
08 Expenditures should not be capitalized if it is not reasonably certain that the Company will receive a benefit from them. Formatted: Font: Not Italic PROCEDURES 09 Every expenditure must be classified as either capital or operating, and...
AI summary The document outlines procedures for classifying expenditures as either capital or operating, emphasizing that capitalization should occur only when benefits are reasonably certain. It discusses the importance of materiality in these decisions and outlines processes such as the Annual Capital Expenditure Plan and the Unknown and Unforeseen process for approving capital expenditures.
WORK ORDER PROCESS Deleted: ¶ 02 The following steps portray the capital asset cycle at NSPI. a. Prepare budget item and enter into Power Plant (PP) as a Capital Item (CI); Deleted: Capital Management System b. Review and revise the CI ite...
AI summary The document outlines the work order process for capital asset management at NSPI, detailing steps from budget preparation to asset depreciation, including approval processes and cost controls.
POLICY Deleted: HARDWARE AND SOFTWARE 01 Purchases of computer hardware and software with a cost in excess of the amount prescribed in Section 1560A should be capitalized. Deleted: Purchases of computer hardware and software with a cost le...
AI summary The text outlines accounting policies regarding the capitalization and expensing of computer hardware, software, telecommunications equipment, and software development projects based on their cost relative to the amount prescribed in Section 1560A. It also addresses the treatment of long-term maintenance and licensing agreements as prepaid expenses.
11 Once the Eligible Overhead Expenses have been determined, the overhead expenses related to the Deleted: 0 Company's capital activities must be calculated. This calculation involves prorating the eligible overhead expenses determined abo...
AI summary The document outlines the process for calculating and applying overhead expenses related to capital activities, including prorating eligible overhead expenses based on capital labour to total labour, allocating expenses to divisions, and reviewing the overhead application rate annually for reasonableness.
06 Basis for Application The application base for AFUDC includes the cumulative total of all direct and indirect charges to work orders, but excludes all AFUDC related to spending subsequent to January 1 or July 1, whichever is the latest....
AI summary The application base for AFUDC is calculated using cumulative direct and indirect charges to work orders, excluding AFUDC related to spending after January 1 or July 1, whichever is later, leading to semi-annual compounding.
POLICY 02 Redundant assets should be retired from property, plant and equipment and, therefore, excluded from Formatted: Font: Not Italic ļ rate base 1 Formatted: Font: Not Italic PROCI EDURE 03 Assets that are identified as being redundan...
AI summary The document discusses the retirement of redundant assets from property, plant, and equipment, emphasizing their exclusion from the rate base. It references accounting sections that explain the treatment of asset retirements and transfers, highlighting procedures for managing redundant assets.
POLICY - 03 Long-lived assets identified as being disposed of by sale, shall be classified as held for sale in the period the criteria for long-lived assets to be disposed of by sale are met. - 04 A long-lived asset classified as held for...
AI summary The text outlines accounting policies for long-lived assets classified as held for sale, including classification criteria, measurement at the lower of net book value or fair market value less cost to sell, and cessation of depreciation during this classification.
Retirement of Assets Other than Land - 14 When assets are disposed of, a retirement work order is set up or retirement accounts are set up within a capital work order. These are used to remove costs from the capital asset records. An examp...
AI summary This section explains the process of retiring assets other than land, including the setup of retirement work orders or accounts within capital work orders to remove costs from capital asset records. An example is provided involving the retirement of computer equipment with specific financial details.
- 19 The following retirement transactions are required to record the retirement of land, the site restoration costs and proceeds of disposal and recognize the gain on the sale: DR CR 2-097-R01-xxx-xxxx(Original Cost) 2-200-R01-xxx-x000 To...
AI summary The text outlines the accounting entries required for the retirement of land, including recording original costs, site restoration expenses, proceeds from the sale, and recognizing a gain on the sale. It also describes the closing entries made at the end of the year to finalize the retirement accounts.
- 07 The journal entry to record the purchase of a short-term investment is: DR 1-320 Short-Term Investments XXXX CR 1-300 Cash XXXX 08 When short-term investments mature, the interest earned is credited to short-term interest expense. The...
AI summary The text provides journal entries for recording the purchase and maturity of short-term investments, including the accounting treatment for interest earned upon maturity.
10 Deferred greenhouse gas emission credit costs should be charged to fuel expense at the average cost of the credits in deferred charges when the credit is: Deleted: 09
AI summary The text discusses the deferred greenhouse gas emission credit costs being charged to fuel expense at the average cost of the credits in deferred charges. A line item is marked as deleted.
PROCEDURES - 10 All new business costs should be charged to an operating project. An Operating Project Approval Form can be obtained from Corporate Accounting Services (CAS). CAS will assign a new project number to collect costs associated...
AI summary The document outlines procedures for charging new business costs to an operating project, requiring approval through an Operating Project Approval Form obtained from Corporate Accounting Services (CAS), which assigns a new project number for cost collection.
04 The overhead application rate would be calculated as follows: Description Amount OM&G Expenses (identified above) $50,000,000 Operating Labour 100,000,000 OM&G Expenses as a Percentage of Operating Labour 50% OTHER DEFERRED COSTS - 6950
AI summary The overhead application rate is calculated based on OM&G expenses and operating labour, with OM&G expenses comprising 50% of operating labour. Other deferred costs are also mentioned in the document.
02 When notification is received via a Board of Directors approved resolution, a dividend payable is recorded in the accounting records: DR 1-780 Dividends - Common XXXX CR 1-610 Dividends Payable XXXX 03 When dividends are paid, the trans...
AI summary The text describes the accounting procedures for recording dividends when notification is received via a Board of Directors approved resolution and when dividends are paid. It outlines the journal entries involved in these processes.
03 Retained earnings shall be calculated for financial statement purposes as follows: Retained earnings, beginning of period XXXX Net earnings before dividends + Any transfers from other reserves +/- Common dividends - Other +/- Retained e...
AI summary The document outlines the method for calculating retained earnings for financial statement purposes, including adjustments for net earnings, transfers from other reserves, dividends, and other factors.
02 Preferred dividends are accrued monthly based on an estimate using financial details of the series (dividend rate): DR 1-785 Dividends – Preferred XXX CR 1-610 Dividends – Payable XXX 03 An adjustment for Part VI.1 tax at 40% of the pre...
AI summary The text discusses the monthly accrual of preferred dividends based on an estimated dividend rate and the recording of Part VI.1 tax at 40% of the preferred share dividend. Accounting entries are provided for both the dividend and the associated tax.
POLICIES 01 Debt maturing within one year should be disclosed under this balance sheet heading, reducing the corresponding part of the debt structure.1 ACCRUED INTEREST ON LONG-TERM DEBT - 8120
AI summary The document discusses the accounting policy for disclosing debt maturing within one year under the balance sheet heading, with a reduction in the corresponding part of the debt structure. It also references the accrued interest on long-term debt under account code 8120.
N-5First filling of Revisions - NSPI Accounting Policy and Procedures Manual 7/9/2010
16 passages
Deleted: Section Function Capitalization Level NSPI Accounting Policy and Procedures Manual Reference Thermal Generation $25,000 Hydro 5,000 Gas Turbines 5,000 Transmission 5,000 Distribution 1,000 6000 Buildings 2,000 Tools 1,000 Transpor...
AI summary The table outlines various functions with their respective capitalization levels and references to NSPI's accounting policy and procedures manual. It includes items such as thermal generation, transmission, distribution, and software development, along with UARB approvals for certain expenditures.
POLICY - 02 The statement of cash flows shall report the cash effects during a period of an entity's operations, its investing transactions, and its financing transactions. 2 - 03 Nova Scotia Power Inc. ("NSPI") applies the indirect method...
AI summary The text outlines the requirements for preparing a statement of cash flows under USGAAP, specifying that Nova Scotia Power Inc. (NSPI) uses the indirect method. It details the classification and disclosure requirements for various cash flow activities, including operations, investing, and financing.
h. cash and cash equivalents. FORMAT Deleted: Page Break ¶ 06 Cash flows from operating activities generally involve producing and delivering goods and Deleted: 4 providing services. Cash flows from operating activities are generally the c...
AI summary The text discusses cash flows from operating, financing, and investing activities, including the treatment of non-cash items, changes in working capital, and the classification of cash flows. It also references accounting standards and sections from the FASB and CICA Handbooks.
INTRODUCTION Deleted: ¶ 01 The Chart of Accounts is updated on a regular basis and posted on the Nova Scotia Power Inc. 01 Since the move to online input of General Ledger data, the Chart of ("NSPI") intranet. It is filed with the Nova Sco...
AI summary The document discusses the Chart of Accounts used by Nova Scotia Power Inc. (NSPI), which is updated regularly and filed with the Nova Scotia Utility and Review Board (UARB). It outlines the structure of the Oracle account number, consisting of five segments: Company, Account, Activity, Cost Centre, and Project. The document emphasizes compliance with US GAAP, UARB requirements, and internal needs.
09 Project Segment The final segment is the four-digit project identifier. The project identifier is optional for operating expenses, but can be used to track specific short-term operating projects. Sequential numbers are assigned to opera...
AI summary The document discusses the structure and use of project identifiers in accounting flex fields, distinguishing between operating expenses and capital items. It outlines the segments of the accounting flex field and highlights changes to the Chart of Accounts, including modifications to the Account, Activity, Cost Centre, and Project segments.
User groups should consider developing their own customized account listing to highlight significant expenditures within their areas. To do so, user groups should contact the Corporate Controller. Page 1: [4] Deleted AI141 6/30/2010 12:06:...
AI summary The text advises user groups to create customized account listings to highlight significant expenditures and directs them to contact the Corporate Controller. It also references deleted pages and timestamps related to accounting systems.
Account Code Major Classification Number Range Expenses 001-099 Revenues 100-199 Property, Plant and Equipment 200-230 Deferred Assets 250-266 Current Assets 300-399 Long Term Debt 400-499 Current Liabilities 500-700 Equity 750-799 Statist...
AI summary The document outlines an account code major classification number range, categorizing financial items such as expenses, revenues, assets, liabilities, and equity into specific numerical ranges. It includes deleted pages from a document posted on the NSPI Intranet.
Activity Code Major Classification Number Range Capital Series 000-099 Administration and General Series 100-199 Customer Operations Series 200-251 General Admin. and Maintenance Series 252-299 Power Production Series 300-399 Accounting fl...
AI summary The text outlines the classification of activity codes for accounting purposes in Nova Scotia, detailing ranges for different series such as Capital, Administration and General, Customer Operations, and Power Production. It also explains the use of flex fields and how activity codes relate to installed costs and retirement activities.
Page 1: [9] Deleted AI141 7/2/2010 3:08:00 PM The lowest level of cost centre available (department/district) is termed the "Child" and is the only level which can accept direct charges. Summary reports to divisional/corporate levels are p...
AI summary The text discusses the structure of cost centres within an organization, distinguishing between 'Child' cost centres at the lowest level and 'Parent' cost centres that compile information for higher levels. It also provides an example of an operating expense accounting flex field with details on company, account, activity, cost centre, and project.
GENERAL 01 Generic accounts simply provide a higher level summary of Nova Scotia Power Inc.'s ("NSPI's or the Company's") asset accounts than the break down furnished by the capital and intangible activities. The format conforms to the acc...
AI summary The document discusses the use of generic accounts by Nova Scotia Power Inc. (NSPI) for summarizing asset accounts, noting that they provide a higher-level overview than detailed breakdowns. The format aligns with the Federal Energy Regulatory Commission (FERC) in the U.S., and a cross-reference table is included in NSPI's Accounting Policy and Procedures Manual.
09 Included in this activity is the present value of the future cost of site restoration associated with the Deleted: 10 equipment to the Company's buildings, dams and other facilities. Deleted: used primarily in the operation and maintena...
AI summary The text discusses accounting policies related to the present value of future site restoration costs for equipment at NSPI's buildings, dams, and other facilities. It also covers the accounting for reservoirs, dams, waterways, and district heating and cooling systems, including water piping networks and heat exchangers.
Underground Conductors Deleted: Page Break 27 Includes the installed cost of all SCADA equipment that is a computer directed control system that allows for data acquisition that can remotely direct the energy generation and transmission ba...
AI summary The text outlines various categories of installed costs, including SCADA equipment, transportation and work vehicles, office furniture and equipment, shop equipment, leases and leasehold improvements, and computer hardware and software, as detailed in the Accounting Policy and Procedures Manual from January 1, 2011.
GENERIC ACCOUNT ACTIVITY CODE STM (S) GAS (G) HYD (H) TRN (T) DIST (DP) GEN (P) WIND (W) Land and Land Rights Land 001 X X X X X X Land Rights 002 X X X X X X X Buildings, Structures & Grounds Buildings, Structures & Grounds 003 X X X X X...
AI summary The document presents a table categorizing various generic accounts related to land, buildings, equipment, and infrastructure, along with their associated activities and codes. The table is labeled as 'GENERIC ACCOUNTS - CROSS REFERENCE TO CAPITAL ACTIVITIES - 3350A', indicating its relevance to capital activities.
POLICIES Deleted: 03 cost model. Receivables that have a relatively short period (less than one year) of time to maturity an not adjusted to reflect discounting as the effect is considered de-minimus Deleted: ¶ Receivables should be record...
AI summary The text outlines policies and procedures for recording trade receivables, including the use of general ledger accounts to manage electric service receivables. It references accounting standards and guidelines for handling receivables and allowances for doubtful accounts.
10 Nontrade Miscellaneous Receivables Deleted: 09 Nontrade miscellaneous receivables mainly arise from sales of surplus material and equipment and returns to suppliers. Interest charges apply to past due balances. The general ledger accoun...
AI summary The text discusses nontrade miscellaneous receivables, PST rebate receivables, and the allowance for doubtful accounts. It explains how these receivables are recorded in specific general ledger accounts and outlines the methodology used to estimate uncollectible accounts.
02 When notification is received via a Board of Directors approved resolution, a dividend payable is recorded in the accounting records: DR 1-780 Dividends - Common XXXX CR 1-610 Dividends Payable XXXX 03 When dividends are paid, the trans...
AI summary This text outlines the accounting procedures for recording dividends when a Board of Directors approved resolution is received and when dividends are paid. It provides journal entries for both scenarios, showing the debits and credits involved in the accounting process.
N-6Second Filing of Revisions - NSPI Accounting Policy and Procedures Manual 9/15/2010
11 passages
September 13, 2010 Nancy McNeil Clerk of the Board Nova Scotia Utility and Review Board 1601 Lower Water Street, 3 rd Floor P.O. Box 1692, Unit "M" Halifax, NS B3J 3S3 Re: NSPI Accounting Policy and Procedures Manual Dear Ms. McNeil, On Ma...
AI summary NSPI submitted an updated Accounting Policy and Procedures Manual to the Nova Scotia Utility and Review Board, incorporating changes to align with US GAAP effective January 1, 2011. KPMG is assisting with the transition, and NSPI plans to make three batch filings with the Board as sections of the external auditor review are completed.
l auditor review are completed. NSPI filed the first batch with the Board on July 9, 2010 which included 24 policies. NSPI met with the Board's consultants on August 4, 2010 to review the first batch. Please find attached NSPI's second fil...
AI summary Nova Scotia Power Inc. (NSPI) submitted revised accounting policies to the Board, including new sections on the Fuel Adjustment Mechanism and Regulated Return on Equity, and removed sections on Greenhouse Gas Emission Credits. NSPI requests the Board's review and offers to meet with the Board or its consultants during the process.
06 Long-term Monetary Assets and Liabilities a. Long-term debt denominated in foreign currencies are translated at each quarter-end using the noon rate on the balance sheet date. Differences between the translation at transaction date and...
AI summary The text discusses the accounting treatment of long-term debt denominated in foreign currencies, including the use of the noon rate on the balance sheet date for translation and the recognition of exchange gains and losses in operations. Examples of purchases and interest expenses are provided, referencing FASB ASC 830-10-45-17.
as follows:¶ Account Deleted: The journal entry for the accrual of unbilled electrical service is
AI summary The text references a journal entry related to the accrual of unbilled electrical service, which is a financial accounting practice. This topic is relevant to accounting policies and standards.
The journal entry for the accrual of unbilled electrical service is as follows: Account Number Debit Credit Unbilled Revenue Receivable 355 XXX Residential - Accrued 102 XXX Time of Use – Accrued 106 XXX Small General - Accrued 112 XXX Gen...
AI summary The document outlines the journal entry for the accrual of unbilled electrical service, detailing various accounts and their respective debits and credits. The entry is net of the reversal of the previous month's accrual, indicating a recurring accounting process.
PROCEDURES - The amortization base is equal to the amount of the capital contribution received for the specific asset group. - The timing of commencement of amortization is the same as the associated asset. - O4 Please refer to NSPI's Acco...
AI summary The text outlines the procedures for amortizing capital contributions received for specific asset groups, referencing NSPI's Accounting Policy and Procedures Manual Section 6220. It provides an example of a capital contribution from the Federal Government for Unit #5 at Trenton and describes the journal entry for amortizing contributed capital.
Deleted: December 31, 2009 Deleted: August 10, 2006 Page 1: [1] Deleted AI141 9/12/2010 3:34:00 PM 04 The following example will demonstrate the amortization of capital contributions in aid of construction:
AI summary The text discusses the amortization of capital contributions in aid of construction, providing an example to illustrate the process.
Retirement of Land - When land is disposed of, retirement accounts within a work order are used to remove its cost from the capital asset records. - 17 If the proceeds from the sale of land are greater than the cost of the land plus the re...
AI summary The text discusses the accounting procedures for retiring land and other assets, including the recognition of gains or losses based on the proceeds from the sale and the journal entries required to remove the asset's cost from capital records.
& lt;sup>3 Please refer to NSPI's Accounting Policy & Procedures Manual 6320 for a discussion of the Asset Retirement Obligations. Page 3: [1] Deleted ag986 8/7/2010 2:06:00 PM These are used to remove costs from the capital asset records....
AI summary The text provides an example of journal entries for retiring assets, including computer equipment and land, highlighting the accounting procedures for recording original costs, accumulated depreciation, salvage proceeds, and site restoration costs.
OVERHEAD APPLICATION RATE - 6940A 04 The overhead application rate is calculated based on total OM&G expenses identified above divided by total operating labour. Deleted: would be Formatted: Justified Deleted: as follows:¶ ¶ ¶ Description...
AI summary The overhead application rate is calculated by dividing total OM&G expenses by total operating labour. The text discusses the methodology used for this calculation, though specific details are partially deleted or formatted in a way that obscures full clarity.
03 Retained earnings shall be calculated for financial statement purposes as follows: XXXX Retained earnings, beginning of period Net earnings before dividends + Any transfers from other reserves +/- Common dividends - Preferred dividends...
AI summary This section outlines the calculation of retained earnings for financial statement purposes, detailing the components that contribute to or reduce retained earnings, including beginning retained earnings, net earnings, dividends, and other adjustments.
06394Board Order 2/16/2011
10 passages
Function Capitalization Level NSPI Accounting Policy and Procedures Manual Reference Thermal Generation $25,000 Hydro 5,000 Gas Turbines 5,000 Transmission 5,000 Distribution 1,000 6000 Buildings 2,000 Tools 1,000 Transportation Equipment...
AI summary The document outlines a cost allocation policy (1570) and provides a table listing various functions with associated capitalization levels and references to the NSPI Accounting Policy and Procedures Manual. It includes items such as Thermal Generation, Hydro, Transmission, and others, along with their respective capitalization thresholds and manual references.
- 04 The Oracle account number consists of a fourteen digit accounting flex field. The flex field is made up of five segments as shown below. Company Account Activity Cost Centre Project X XXX XXX - XXX - XXXX 05 Company Segment
AI summary The text describes the structure of the Oracle account number, which is a fourteen-digit accounting flex field composed of five segments, with the first segment being the Company segment.
GENERIC ACCOUNT ACTIVITY CODE STM (S) GAS (G) HYD (H) TRN (T) DIST (DP) GEN (P) WIND (W) Land and Land Rights Land 001 Х Х Х Х Х Х Land and Land Highlis Land Rights 002 Х Х X Х х Х Х Buildings, Structures & Grounds Buildings, Structures &...
AI summary The document presents a table detailing various generic accounts, their associated activities, and codes. It includes categories such as land, buildings, equipment, and financial reporting systems, with specific codes and classifications for different types of assets and activities.
- 06 In order to capitalize an expenditure, there must be reasonable assurance that the benefit will actually be realized by the Company. 1FASB ASC 360-10-05-3 2 Please refer to NSPI's Accounting Policy & Procedures Manual Section 5300 for...
AI summary The text states that for an expenditure to be capitalized, there must be reasonable assurance that the benefit will be realized by the company. It also references FASB ASC 360-10-05-3 and directs readers to NSPI's Accounting Policy & Procedures Manual for details on depreciation and amortization.
POLICY 02 A capital asset should be recorded at cost. 1 - 03 The cost of a capital asset includes all expenditures necessary to place the asset in service. Therefore, cost not only includes the purchase price, but also other acquisition co...
AI summary The text outlines the principles for recording capital assets, including the inclusion of all expenditures necessary to place the asset in service. It specifies that costs include purchase price, installation, legal fees, and other related expenses. For long-term construction, carrying costs such as AFUDC are included until the asset is substantially complete and ready for use.
- 06 Capital assets acquired by Nova Scotia Power Inc. ("NSPI") which were previously devoted to public service are recorded at their original cost to the seller, less accumulated depreciation. 1FASB ASC 360-10-30 2 FASB ASC 360-10-30
AI summary The text discusses the accounting treatment of capital assets acquired by Nova Scotia Power Inc. (NSPI), stating that these assets are recorded at their original cost to the seller, less accumulated depreciation.
04 For the capitalization of computer software please refer to NSPI's Accounting Policy & Procedures Manual section 6215. 1FASB ASC 350-10-20 APPLICATION OF ADMINISTRATIVE AND VEHICLE OVERHEAD (SELF - CONSTRUCTED ASSETS) - 6230
AI summary The text refers to Nova Scotia Power Inc.'s (NSPI) Accounting Policy & Procedures Manual section 6215 for the capitalization of computer software and mentions a section titled 'APPLICATION OF ADMINISTRATIVE AND VEHICLE OVERHEAD (SELF - CONSTRUCTED ASSETS) - 6230'.
Non-trade business receivables include demand side management (UDSM") financing receivables, financial derivatives, contract receivable, accrued interest receivable and financing contracts for water heaters and ETS units. DSM financing rec...
AI summary The text discusses non-trade business receivables, including DSM financing receivables, financial derivatives, contract receivables, and accrued interest receivables, all based on contractual agreements and recorded in specific general ledger accounts.
02 When notification is received via a Board of Directors approved resolution, a dividend payable is recorded in the accounting records: DR 1-780 Dividends - Common xxxx CR 1-610 Dividends Payable XXXX 03 When dividends are paid, the trans...
AI summary The text outlines the accounting treatment for recording dividends when notification is received via a Board of Directors approved resolution and when dividends are subsequently paid. It includes journal entries for both scenarios, focusing on the accounting records related to retained earnings and dividends payable.
POLICIES 01 Debt which is due within one year should be disclosed under this balance sheet heading, reducing the corresponding part of the debt structure. 1 1 FASB ASC 210-10-45-9
AI summary The text discusses the accounting policy for disclosing short-term debt on the balance sheet, referencing FASB ASC 210-10-45-9. It indicates that debt due within one year should be classified under the appropriate balance sheet heading, affecting the debt structure.
05338Letter request Board review Batch 3 revisions. 9/24/2010
6 passages
September 24, 2010 Nancy McNeil Regulatory Affairs Officer/Clerk Nova Scotia Utility and Review Board 1601 Lower Water Street 3 rd Floor Halifax, NS B3J 3S3 Re: NSPI Accounting Policy and Procedures Manual Dear Ms. McNeil, Further to NSPI'...
AI summary NSPI has submitted its third and final filing of revisions to its Accounting Policy and Procedures Manual to align with US GAAP. Key changes include updates to policies on Regulated Return on Equity and Purchase Price Discrepancy, as well as the removal of an outdated section. Two new policies affecting earnings—Income Taxes and Employee Future Benefits—are also included.
900 Income Taxes results in the benefit of investment tax credits being immediately credited to income tax expense in the year earned to the extent realization of such benefit is more likely than not. In addition, income taxes computed und...
AI summary The document outlines changes to income tax accounting policies, including the immediate crediting of investment tax credits and the use of enacted tax rates under US GAAP. NSPI requests the Board to review the amended policies and offers to meet with the Board or its consultants during the review process.
Appendix A: 1530 ofEquity Regulated Return 2400 Employee Future Benefits 4200 Other Revenue 5300 Depreciation Expense 5800 Interest 5900 Income Taxes 6230 of Application Administrative and Vehicle Overhead (Self-constructed Assets) 6235 of...
AI summary This section presents a table of financial and accounting-related line items, including equity, employee benefits, revenue, depreciation, interest, taxes, administrative overhead, asset retirement obligations, and long-term debt. It does not include detailed discussion or arguments.
Deleted: (Account 078) Page 2: [1] Deleted AI141 8/30/2010 1:41:00 PM 05 Interest expense should be recorded on an accrual basis. 06 the related debt. Debt issue costs should be deferred and amortized on a straight-line basis over the term...
AI summary The text discusses accounting practices related to interest expense, debt issue costs, and defeasance costs for long-term debt, emphasizing accrual basis recording and straight-line amortization. The content includes deleted pages and timestamps but focuses on financial accounting procedures.
PROPERTY, PLANT AND EQUIPMENT ACCUMULATED DEPRECIATION - 6400 When conducting a depreciation rate study to set depreciation rates 2 , the balances in the accounts are taken into consideration when setting the final rate. If the assets in a...
AI summary The document discusses the process of setting depreciation rates based on accumulated depreciation balances, highlighting the need to adjust rates if assets are over or under depreciated. The adjustment ensures proper crediting of reserve balances over the remaining life of the assets.
Page 2: [1] Deleted ag986 11/17/2009 4:29:00 PM Asset Group Level of Detail Steam and Gas Turbine Production Plant Total by individual generating station Hydro Production Plant Total by individual hydro system Mass Property (Transmission,...
AI summary The document outlines the categorization of asset groups and their levels of detail, including Steam and Gas Turbine Production Plant, Hydro Production Plant, and Mass Property. It also mentions 'Deferred Charges,' indicating a focus on accounting and financial practices.
05986BDO Final Report 12/9/2010
6 passages
The following table summarizes the proposed changes to NSPI's Accounting Manual within Submission 1 by section: SECTION COMMENTS 1000: Introduction Reference from Canadian GAAP to US GAAP in paragraph 06 is the only change in this section...
AI summary The document outlines proposed changes to NSPI's Accounting Manual in Submission 1, primarily driven by the transition to US GAAP. The changes include updates to references, definitions, and policies in several sections, with specific impacts noted for financial instruments and hedges.
- 1500: Knowledge of Company Business - 1560A: Capitalization Limits - 1580: Financial Records - 3300: Oracle System Overview - 3350: Generic Accounts - 3350A: Generic Accounts: Cross Reference to Capital Activities - 6200: Construction wo...
AI summary The text lists various accounting codes and financial records related to a company's business operations, including capitalization limits, financial records, construction in progress, and accounts payable.
The following table summarizes the proposed changes to NSPI's Accounting Manual within Submission 2 by section: SECTION COMMENTS 1540: Audit, Nominating and Corporate Governance Committee Reference to US Securities Law added to paragraph 0...
AI summary The document outlines proposed changes to NSPI's Accounting Manual, primarily related to updates in US GAAP standards, including audit requirements, materiality definitions, foreign currency translation, revenue recognition, and inventory measurement methods, with minimal expected impact due to existing compliance.
SECTION COMMENTS 7200: Retained Earnings Under Canadian GAAP dividends on preferred shares were expensed as a part of financing charges. Under US GAAP these amounts are recorded as a reduction to retained earnings; and as a reduction from...
AI summary The text discusses differences between Canadian GAAP and US GAAP in accounting for retained earnings and debt due within one year. It also notes that NSPI did not update other sections of Submission 2 due to the switch to US GAAP.
The following table summarizes the proposed changes to NSPI's Accounting Manual within Submission 3 by section: SECTION COMMENTS 1530: Regulated Return of Equity Paragraphs 03 and 04 have been modified to provide a more detailed and accura...
AI summary This section outlines proposed changes to NSPI's Accounting Manual in Submission 3, focusing on the regulated return of equity. Modifications to paragraphs 03 and 04 aim to provide a more accurate description, with adjustments related to US GAAP impacting certain accounts but not the return on equity calculation itself.
- 6230: Application of Administrative and Vehicle Overhead - 6235: Application of Administrative Overhead - 6250: Purchase Price Discrepancy - 7300: Preferred Reserves - 7320: Preferred Dividends - 8100: Long-term Debt and Matching Notes -...
AI summary The document lists various financial items and refers to the submission of NSPI's accounting manual. It includes entries related to administrative overhead, purchase price discrepancies, reserves, dividends, long-term debt, and income taxes payable.
06100Compliance Filing - Accounting Policy and Procedures Manual 1/11/2011
8 passages
Function Capitalization Level NSPI Accounting Policy and Procedures Manual Reference Thermal Generation $25,000 Hydro 5,000 Gas Turbines 5,000 Transmission 5,000 Distribution 1,000 6000 Buildings 2,000 Tools 1,000 Transportation Equipment...
AI summary The document outlines various capitalization levels for different assets and functions within Nova Scotia Power Inc. (NSPI), including thermal generation, transmission, distribution, and software development, along with references to the UARB approval process for certain expenditures and asset management.
- 04 The Oracle account number consists of a fourteen digit accounting flex field . The flex field is made up of five segments as shown below. Company Account Activity Cost Centre Project X - XXX - XXX - XXX - XXXX 05 Company Segment
AI summary This section describes the structure of the Oracle account number, which is a fourteen-digit accounting flex field composed of five segments: Company, Account, Activity, Cost Centre, and Project. It provides an example of how these segments might be represented in a table format.
POLICY 02 A capital asset should be recorded at cost.1 - 03 The cost of a capital asset includes all expenditures necessary to place the asset in service. Therefore, cost not only includes the purchase price, but also other acquisition cos...
AI summary The document outlines the accounting treatment for capital assets, stating that they should be recorded at cost, which includes purchase price and all other expenditures necessary to place the asset in service. This includes items such as installation costs, legal fees, and carrying costs during construction, which are calculated using an allowance for funds used during construction (AFUDC).
- 06 Capital assets acquired by Nova Scotia Power Inc. ("NSPI") which were previously devoted to public service are recorded at their original cost to the seller, less accumulated depreciation. F A S B A S C 3 6 0 - 1 0 - 3 0 1 F A S B A S...
AI summary The document discusses the accounting treatment of capital assets acquired by Nova Scotia Power Inc. (NSPI), which were previously used for public service, and are recorded at their original cost to the seller, adjusted for accumulated depreciation.
04 For the capitalization of computer software please refer to NSPI's Accounting Policy & Procedures Manual section 6215. F A S B A S C 3 5 0 - 1 0 - 2 0 1 APPLICATION OF ADMINISTRATIVE AND VEHICLE OVERHEAD (SELF - CONSTRUCTED ASSETS) - 62...
AI summary The text refers to NSPI's Accounting Policy & Procedures Manual section 6215 for guidance on the capitalization of computer software. It also mentions an application related to administrative and vehicle overhead for self-constructed assets, referencing section 6230.
POLICY - 03 Long-lived assets identified as being disposed of by sale, shall be classified as held for sale in the period the criteria for long-lived assets to be disposed of by sale are met. - 04 A long-lived asset classified as held for...
AI summary The text outlines accounting policies for long-lived assets classified as held for sale, including classification criteria, measurement at fair value less cost to sell, and rules regarding depreciation and reclassification.
02 When notification is received via a Board of Directors approved resolution, a dividend payable is recorded in the accounting records: DR 1-780 Dividends - Common XXXX CR 1-610 Dividends Payable XXXX 03 When dividends are paid, the trans...
AI summary The text outlines the accounting treatment for dividends when notification is received via a Board of Directors approved resolution and when dividends are paid. It includes journal entries for recording dividend payable and the payment of dividends.
POLICIES 01 Debt which is due within one year should be disclosed under this balance sheet heading, reducing the corresponding part of the debt structure.1 1 FASB ASC 210-10-45-9
AI summary The text discusses the accounting policy for disclosing short-term debt on the balance sheet, referencing FASB ASC 210-10-45-9. It indicates that debt due within one year should be disclosed under the appropriate balance sheet heading, which affects the debt structure.
06394Board Order 2/16/2011
12 passages
Function Capitalization Level NSPI Accounting Policy and Procedures Manual Reference Thermal Generation $25,000 Hydro 5,000 Gas Turbines 5,000 Transmission 5,000 Distribution 1,000 6000 Buildings 2,000 Tools 1,000 Transportation Equipment...
AI summary The document outlines a cost allocation policy (1570) and provides a table detailing various functions with associated capitalization levels and references to the NSPI Accounting Policy and Procedures Manual. It includes items such as thermal generation, hydro, transmission, distribution, and others, along with UARB approval requirements for certain items.
OVERVIEW - 03 The account structure utilized by NSPI has been designed to address operational, financial and regulatory requirements. Accordingly, the account structure meets US generally accepted accounting principles financial reporting...
AI summary NSPI's account structure is designed to meet operational, financial, and regulatory requirements, including compliance with US GAAP, UARB requirements, and internal needs.
- 04 The Oracle account number consists of a fourteen digit accounting flex field. The flex field is made up of five segments as shown below. Company Account Activity Cost Centre Project X XXX XXX - XXX - XXXX 05 Company Segment
AI summary The Oracle account number is a fourteen-digit accounting flex field composed of five segments, with the first segment being the company segment. The structure is outlined in a table with columns for Company, Account, Activity, Cost Centre, and Project.
GENERIC ACCOUNT ACTIVITY CODE STM (S) GAS (G) HYD (H) TRN (T) DIST (DP) GEN (P) WIND (W) Land and Land Rights Land 001 Х Х Х Х Х Х Land and Land Highlis Land Rights 002 Х Х X Х х Х Х Buildings, Structures & Grounds Buildings, Structures &...
AI summary The document presents a table outlining various generic accounts, their activities, and associated codes, which are categorized under different asset types such as land, buildings, equipment, and infrastructure. This table is part of a financial reporting system used to classify and track capital assets.
- 06 In order to capitalize an expenditure, there must be reasonable assurance that the benefit will actually be realized by the Company. 1FASB ASC 360-10-05-3 2 Please refer to NSPI's Accounting Policy & Procedures Manual Section 5300 for...
AI summary The text discusses the requirement for reasonable assurance that an expenditure will benefit the Company in order to be capitalized. It references FASB ASC 360-10-05-3 and directs readers to NSPI's Accounting Policy & Procedures Manual for further details on depreciation and amortization.
POLICY 02 A capital asset should be recorded at cost. 1 - 03 The cost of a capital asset includes all expenditures necessary to place the asset in service. Therefore, cost not only includes the purchase price, but also other acquisition co...
AI summary The document outlines the principles for recording capital assets, specifying that the cost includes all expenditures necessary to place the asset in service, such as purchase price, installation, legal fees, and carrying costs during construction. It also notes that capitalization of carrying costs stops when the asset is substantially complete and ready for use.
- 06 Capital assets acquired by Nova Scotia Power Inc. ("NSPI") which were previously devoted to public service are recorded at their original cost to the seller, less accumulated depreciation. 1FASB ASC 360-10-30 2 FASB ASC 360-10-30
AI summary The document discusses the accounting treatment of capital assets acquired by Nova Scotia Power Inc. (NSPI), which were previously used for public service. These assets are recorded at their original cost to the seller, less accumulated depreciation.
04 For the capitalization of computer software please refer to NSPI's Accounting Policy & Procedures Manual section 6215. 1FASB ASC 350-10-20 APPLICATION OF ADMINISTRATIVE AND VEHICLE OVERHEAD (SELF - CONSTRUCTED ASSETS) - 6230
AI summary The text refers to Nova Scotia Power Inc.'s (NSPI) Accounting Policy & Procedures Manual, specifically section 6215, regarding the capitalization of computer software. It also mentions section 6230, which addresses the application of administrative and vehicle overhead for self-constructed assets.
Non-trade business receivables include demand side management (UDSM") financing receivables, financial derivatives, contract receivable, accrued interest receivable and financing contracts for water heaters and ETS units. DSM financing rec...
AI summary The text discusses non-trade business receivables, including demand side management (DSM) financing receivables, financial derivatives, and contract receivables, all of which are based on contractual agreements. It also mentions accrued interest receivable and the general ledger accounts used for recording these receivables.
Nontrade employee receivables include payroll advances, expense advances, vacation payroll advances, etc. These amounts are recovered on a timely basis through payroll deductions and submission of employee expense statements. The general l...
AI summary The text discusses nontrade employee receivables, including payroll and expense advances, and how they are recovered through payroll deductions and expense statements. It also mentions the general ledger accounts used for recording these receivables.
02 When notification is received via a Board of Directors approved resolution, a dividend payable is recorded in the accounting records: DR 1-780 Dividends - Common xxxx CR 1-610 Dividends Payable XXXX 03 When dividends are paid, the trans...
AI summary The text outlines the accounting procedures for recording dividends when notification is received via a Board of Directors approved resolution and when dividends are paid. It includes journal entries for both scenarios, focusing on retained earnings and dividends payable.
POLICIES 01 Debt which is due within one year should be disclosed under this balance sheet heading, reducing the corresponding part of the debt structure. 1 1 FASB ASC 210-10-45-9
AI summary The text discusses accounting policies related to the disclosure of short-term debt on the balance sheet, referencing FASB ASC 210-10-45-9 as a guideline for proper classification and disclosure.