Topic:"Operating Expenses" in M03154

1 CICA Handbook 1650.16 3 CICA Handbook 1650.14 c. When Canadian dollars are deposited to the US dollar bank account the cost of these dollars also goes to the operating expense resulting in the net exchange difference being recognized in...

AI summary The text discusses the recognition of net exchange differences as operating expenses when Canadian dollars are deposited into a US dollar bank account, referencing specific CICA handbooks.

APPLICATION - 03 After the separation of the regulated utility business of NSPI and the other businesses of Emera Inc.1 , NSPI segregated its financial data from its affiliates using the "Multi-Org" functionality available within the Oracl...

AI summary NSPI segregated financial data from Emera Inc. using Oracle's 'Multi-Org' functionality, creating a new account structure. This allows decentralized task management, improved expenditure tracking, and automated processes like requisition approvals and purchase order generation.

10 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 text outlines rules for project identifiers in Nova Scotia Power's accounting, distinguishing between optional identifiers for operating expenses and mandatory ones for capital items. It details code structure, including function codes (e.g., S, H) and work order numbers, and notes deleted sections related to intranet postings.

DEFINITION 01 Operating, maintenance and general ("OM&G") expenses include all costs of operation except fuel and power purchases, fuel adjustment mechanism, grants in lieu of property taxes, provincial capital tax, AFUDC, depreciation, re...

AI summary OM&G expenses encompass operational costs excluding fuel, depreciation, taxes, and specific adjustments. Examples include labor, materials, travel, and rent, highlighting non-fuel operational expenditures.

PROCEDURES - 03 OM&G expenses are recorded, in both computerized and manual sub-systems, as they are incurred along with any required accruals. - 04 The major subsystems that interface with the OM&G general ledger accounts include payroll,...

AI summary The document outlines procedures for recording OM&G expenses through computerized and manual systems, interfacing with payroll, accounts payable, and inventory subsystems. It details the use of an accounting flex field structure to classify costs by activity and references OM&G account ranges and activity codes.

07 Customer Operations Division The nature of operating expenses in the Customer Operations Division is primarily identified by the activity segment of the accounting flex field.[2](#page-103-0) The budgeted expenses for all eligible activ...

AI summary The Customer Operations Division's operating expenses are primarily determined by the activity segment of the accounting flex field. Budgeted expenses for eligible activities are accumulated, and head office rent is allocated separately. A unique Vehicle Overhead rate is applied for vehicle expenses within this division.

DETERMINATION OF ELIGIBLE OVERHEAD EXPENSES 07 The next step is the identification of operating expenses that will benefit construction or development activities. A separate determination is made for each division. The process relies on bu...

AI summary The document outlines the process for identifying operating expenses that benefit construction or development activities, with a separate determination made for each division and reliance on budgeted figures to determine the overhead application rate before the fiscal year begins.

08 Customer Operations Division The nature of operating expenses in the Customer Service Division is primarily identified by the activity segment of the accounting flex field . [2](#page-106-0) The budgeted expenses for all eligible activi...

AI summary The Customer Operations Division's operating expenses are categorized by the activity segment of the accounting flex field. Budgeted expenses for eligible activities are aggregated to calculate the divisional total.

APPLICATION OF OVERHEAD 15 The overhead charged to a particular project is determined by multiplying the contract costs charged to the project by the appropriate overhead application rate related to the appropriate division. The charge is...

AI summary The overhead charged to a project is calculated by multiplying the contract costs by the appropriate overhead application rate for the division. The charge is recorded in a Capital Work Order and credited to general ledger account 095 - Construction Overhead, which is part of Operating, Maintenance and General Expenses.

Materials - 04 Materials are accounted for using a computerized perpetual inventory system. Purchases are recorded at cost and issues are charged to capital or operating accounts at average cost. - 05 Physical counts are performed on a rot...

AI summary The materials management process involves a computerized perpetual inventory system, with purchases recorded at cost and issues charged to capital or operating accounts at average cost. Annual physical counts are conducted, and adjustments are expensed. Storerooms are charged monthly interest based on an annual rate tied to the Company's average short-term borrowing cost.

TELECOMMUNICATIONS EQUIPMENT 07 Small purchases of telecommunications equipment that are not included in a capital work order may be budgeted and expensed using operating accounts Page 1: [2] Deleted AI141 7/4/2010 10:54:00 PM Please refer...

AI summary The text outlines guidelines for budgeting and expensing small telecommunications equipment purchases not included in capital work orders, directing readers to specific sections for capitalization criteria and cost inclusion in capital expenditures. It also discusses the inclusion of costs related to large software development projects, including third-party and internal resources, data conversion, and training.

c. When Canadian dollars are deposited to the US dollar bank account the cost of these dollars also goes to the operating expense resulting in the net exchange difference being recognized in operations.

AI summary The text explains that when Canadian dollars are deposited into a US dollar bank account, the cost of these dollars is recorded as an operating expense, leading to a net exchange difference recognized in operations.

OPERATING, MAINTENANCE AND GENERAL - 5200

AI summary The document section 'OPERATING, MAINTENANCE AND GENERAL - 5200' contains an image placeholder with no visible text, suggesting the chunk may be incomplete or requires visual context for analysis. No explicit arguments, entities, or topics are directly discussed in the provided text.

DEFINITION Operating, maintenance and general ("OM&G") expenses include all costs of operations not recognized elsewhere. Examples of OM&G expenses include, but are not limited to, labour, contracts, consultants, materials, travel, office...

AI summary Defines OM&G expenses as operational costs including labour, contracts, materials, etc.

PROCEDURES - OM&G expenses are recorded, in both computerized and manual sub-systems, as they are incurred along with any required accruals. - 04 The major subsystems that interface with the OM&G general ledger accounts include payroll, ac...

AI summary The document outlines procedures for recording OM&G expenses through computerized and manual systems, including accruals. Key subsystems like payroll and accounts payable interface with OM&G general ledger accounts, with references to NSPI's accounting manual for detailed Oracle Financial System structures.

Deleted: August 10, 2006 Page 2: [1] Deleted AI141 9/2/2010 12:01:00 PM 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% SHAREHOL...

AI summary The text presents a table showing OM&G expenses and operating labour costs, with OM&G expenses making up 50% of operating labour. The page number and date are also included, though the main content has been deleted.

PROCEDURES - 11 Actuarial valuations are performed annually for all plans. - Pension expense, as determined in the annual actuarial valuation, is charged to both operating departments and corporate adjustments. - 13 Pension funding for pre...

AI summary The text outlines procedures related to pension plan management, including annual actuarial valuations, funding, investment of assets, and expense allocation. It discusses how pension expenses are charged to operating departments and corporate adjustments, and how contributions and administrative expenses are handled for both defined benefit and defined contribution plans.

07 Customer Operations Division The nature of operating expenses in the Customer Operations Division is primarily identified by the activity segment of the accounting flex field. The budgeted expenses for all eligible activities are accumu...

AI summary The Customer Operations Division's operating expenses are determined through the activity segment of the accounting flex field, with head office expenses allocated separately. Vehicle overhead rates are calculated and applied specifically for this division.

08 Customer Operations Division The nature of operating expenses in the Customer Service Division is primarily identified by the activity segment of the accounting flex field. The budgeted expenses for all eligible activities are accumulat...

AI summary The Customer Operations Division's operating expenses are primarily identified through the activity segment of the accounting flex field, with budgeted expenses for eligible activities accumulated to determine the divisional total.

3) Re: Generics accounts - 3350 Under Policy 7, are all R&D activities expensed or is it broken out between operating and capital, in which case capital is not written off in the year incurred? Is this in accordance with the tax policy? Pl...

AI summary The document discusses the treatment of R&D activities under Policy 3350, clarifying whether they are expensed or capitalized. It also explains that investment tax credits (ITC) are recorded in the year earned, regardless of whether they relate to capital or operating expenditures.

DEFINITION 01 Operating, maintenance and general ("OM&G") expenses include all costs of operations not recognized elsewhere. Examples of OM&G expenses include, but are not limited to, labour, contracts, consultants, materials, travel, offi...

AI summary OM&G expenses encompass all operational costs not categorized elsewhere, such as labour, contracts, consultants, materials, travel, office supplies, chemicals, and rent.

DETERMINATION OF ELIGIBLE OVERHEAD EXPENSES 06 The next step is the identification of operating expenses that will benefit construction or development activities. A separate determination is made for each division. The process relies on bu...

AI summary The document discusses the process of identifying operating expenses that benefit construction or development activities, with a separate determination made for each division based on budgeted information.

07 Customer Operations Division The nature of operating expenses in the Customer Operations Division is primarily identified by the activity segment of the accounting flex field. 1 The budgeted expenses for all eligible activities are accu...

AI summary The Customer Operations Division's operating expenses are categorized by activity segments within the accounting flex field. Budgeted expenses are aggregated, with a separate allocation of head office expenses. A distinct vehicle overhead rate is applied for eligible vehicle classes, unique to the Customer Operations Division.

APPLICATION OF OVERHEAD 15 The overhead charged to a particular project is determined by multiplying the labour costs charged to the project by the appropriate overhead application rate. The charge is debited to a Capital Work Order while...

AI summary The overhead applied to a project is calculated by multiplying labor costs by the appropriate overhead application rate, with the charge recorded in Capital Work Orders and credited to Operating, Maintenance and General Expenses.

DETERMINATION OF ELIGIBLE OVERHEAD EXPENSES 06 The next step is the identification of operating expenses that will benefit construction or development activities. A separate determination is made for each division. The process relies on bu...

AI summary The process involves identifying operating expenses that benefit construction or development activities, with a separate determination for each division. Budgeted expense figures are used to determine the overhead application rate for each fiscal year prior to its commencement.

Customer Operations Division 07 The nature of operating expenses in the Customer Service Division is primarily identified by the activity segment of the accounting flex field. 1 The budgeted expenses for all eligible activities are accumul...

AI summary The Customer Operations Division's operating expenses are primarily identified through the activity segment of the accounting flex field, with budgeted expenses for eligible activities aggregated to determine the divisional total.

- 6940A - An overhead charge will apply to labour costs of Nova Scotia Power Inc. ("NSPI") employees outside of the corporate support groups relating to affiliate or non-regulated activities. This charge is designed to recover all administ...

AI summary An overhead charge is applied to Nova Scotia Power Inc. employees' labour costs for activities outside corporate support groups. This charge aims to recover administrative costs associated with affiliate or non-regulated activities, ensuring ratepayers are not negatively impacted. The overhead application rate is calculated using various OM&G expense accounts and reviewed annually by Corporate Accounting Services.

OVERHEAD APPLICATION RATE 04 The overhead application rate is calculated based on total OM&G expenses identified above divided by total operating labour.

AI summary The overhead application rate is determined by dividing total OM&G expenses by total operating labour, as outlined in the document.

07 Customer Operations Division The nature of operating expenses in the Customer Operations Division is primarily identified by the activity segment of the accounting flex field. The budgeted expenses for all eligible activities are accumu...

AI summary The Customer Operations Division's operating expenses are determined by activity segments in the accounting flex field. Budgeted expenses for eligible activities are aggregated, with a separate allocation of head office expenses. Vehicle overhead rates are calculated and applied separately for eligible vehicle classes in this division.

08 Customer Operations Division The nature of operating expenses in the Customer Service Division is primarily identified by the activity segment of the accounting flex field. The budgeted expenses for all eligible activities are accumulat...

AI summary The Customer Operations Division's operating expenses are primarily identified through the activity segment of the accounting flex field, with budgeted expenses for eligible activities aggregated to determine the divisional total.

- 1520: Rate Base - 1530: Regulated Return of Equity - 1570: Cost Allocation Policy - 5110: Fuel Adjustment Mechanism - 5200: Operating, Maintenance & General - 5310: Amortization -Capital Contributions in Aid of Construction - 6140: Cost...

AI summary The text lists various accounting and financial categories related to utility regulation, including rate base, return on equity, cost allocation, fuel adjustment mechanism, operating expenses, amortization, capital contributions, and debt-related items.

STATEMENT OF CASH FLOW - 2100

AI summary The document presents the Statement of Cash Flow - 2100, which outlines the cash inflows and outflows for a specific period. It includes details related to operating, investing, and financing activities, as well as changes in cash and cash equivalents.

DEFINITION 01 Operating, maintenance and general ("OM&G") expenses include all costs of operations not recognized elsewhere. Examples of OM&G expenses include, but are not limited to, labour, contracts, consultants, materials, travel, offi...

AI summary OM&G expenses encompass operational costs such as labour, contracts, consultants, materials, travel, office supplies, chemicals, and rent, which are not recognized elsewhere in the accounting framework.

07 Customer Operations Division The nature of operating expenses in the Customer Operations Division is primarily identified by the activity segment of the accounting flex field. 1 The budgeted expenses for all eligible activities are accu...

AI summary The Customer Operations Division's operating expenses are categorized by activity segments within the accounting flex field. Budgeted expenses for eligible activities are aggregated, with a separate allocation of head office expenses. A distinct vehicle overhead rate is applied for vehicle expenses, unique to this division.

DETERMINATION OF ELIGIBLE OVERHEAD EXPENSES 06 The next step is the identification of operating expenses that will benefit construction or development activities. A separate determination is made for each division. The process relies on bu...

AI summary The document outlines the process for identifying operating expenses that benefit construction or development activities, emphasizing the use of budgeted figures to determine overhead application rates before the fiscal year begins.

Customer Operations Division 07 The nature of operating expenses in the Customer Service Division is primarily identified by the activity segment of the accounting flex field.1 The budgeted expenses for all eligible activities are accumula...

AI summary The Customer Operations Division's operating expenses are primarily identified through the activity segment of the accounting flex field, with budgeted expenses for all eligible activities accumulated to obtain the divisional total.

- 6940A - 01 An overhead charge will apply to labour costs of Nova Scotia Power Inc. ("NSPI") employees outside of the corporate support groups relating to affiliate or non-regulated activities. This charge is designed to recover all admin...

AI summary An overhead charge is applied to the labour costs of Nova Scotia Power Inc. employees outside of corporate support groups for affiliate or non-regulated activities. This charge is intended to recover administrative costs not specifically identifiable with these activities, ensuring ratepayers are not adversely affected. The overhead application rate is calculated using various OM&G expense accounts and should be reviewed annually by Corporate Accounting Services.

OVERHEAD APPLICATION RATE 04 The overhead application rate is calculated based on total OM&G expenses identified above divided by total operating labour.

AI summary The overhead application rate is determined by dividing total OM&G expenses by total operating labour, as outlined in the document.

OVERHEAD ALLOCATION - 22 An overhead load will be charged to NSPl's affiliates to cover indirect support costs not captured in the corporate support group cost centres. - 23 Included in the overhead load are depreciation and carrying charg...

AI summary The document discusses the allocation of overhead costs to NSPI's affiliates, including depreciation, rent, IT support, and incentives, to cover indirect support costs not captured in the corporate support group cost centres.

DEFINITION 01 Operating, maintenance and general ("OM&G") expenses include all costs of operations not recognized elsewhere. Examples of OM&G expenses include, but are not limited to, labour, contracts, consultants, materials, travel, offi...

AI summary OM&G expenses encompass operational costs not categorized elsewhere, such as labor, contracts, consultants, materials, travel, office supplies, chemicals, and rent.

DETERMINATION OF ELIGIBLE OVERHEAD EXPENSES 06 The next step is the identification of operating expenses that will benefit construction or development activities. A separate determination is made for each division. The process relies on bu...

AI summary The document outlines the process for identifying operating expenses that benefit construction or development activities, with a separate determination made for each division based on budgeted figures.

07 Customer Operations Division The nature of operating expenses in the Customer Operations Division is primarily identified by the activity segment of the accounting flex field. 1 The budgeted expenses for all eligible activities are accu...

AI summary The Customer Operations Division's operating expenses are primarily identified by the activity segment of the accounting flex field. Budgeted expenses for eligible activities are accumulated, and a separate allocation of head office expenses is added. A separate Vehicle Overhead rate is applied for vehicle expenses, unique to the Customer Operations Division.

APPLICATION OF OVERHEAD 15 The overhead charged to a particular project is determined by multiplying the labour costs charged to the project by the appropriate overhead application rate. The charge is debited to a Capital Work Order while...

AI summary The overhead for a project is calculated by multiplying labour costs by the appropriate overhead application rate. This charge is recorded as a debit to a Capital Work Order and a credit to Operating, Maintenance and General Expenses.

DETERMINATION OF ELIGIBLE OVERHEAD EXPENSES 06 The next step is the identification of operating expenses that will benefit construction or development activities. A separate determination is made for each division. The process relies on bu...

AI summary The document outlines the process for identifying operating expenses that benefit construction or development activities, emphasizing the use of budgeted figures to determine overhead application rates before the fiscal year begins.

Customer Operations Division 07 The nature of operating expenses in the Customer Service Division is primarily identified by the activity segment of the accounting flex field. 1 The budgeted expenses for all eligible activities are accumul...

AI summary The Customer Operations Division's operating expenses are categorized by activity segments within the accounting flex field, with budgeted expenses for eligible activities aggregated to determine the divisional total.

OVERHEAD APPLICATION RATE 04 The overhead application rate is calculated based on total OM&G expenses identified above divided by total operating labour.

AI summary The overhead application rate is determined by dividing total OM&G expenses by total operating labour. This calculation is used to allocate overhead costs appropriately within the organization.