[en] The major regulatory challenge to the electric utility industry appears to be coming from the financial side with its bookkeeping and financial reporting requirements. The author describes the accounting procedures and problems associated with straightforward phase-in rate treatment, abandonment, excess capacity, cost allowances, etc. She concludes that the available options to the Financial Accounting Standards Board are to adopt either the proposed exposure draft or a modification of the draft, to drop the proposed draft of amendments to Statement No. 71, or issue a whole new exposure draft