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Impact of New Accounting Standards and Interpretations
 9 Months Ended
Jun. 30, 2011
Impact of New Accounting Standards and Interpretations [Abstract]  
Impact of New Accounting Standards and Interpretations

       The following accounting standards and interpretations became effective for TVA during 2011.

Transfers of Financial Assets.  In June 2009, the Financial Accounting Standards Board (“FASB”) issued guidance regarding accounting for transfers of financial assets.  This guidance eliminates the concept of a qualifying special-purpose entity (“QSPE”) and subjects those entities to the same consolidation guidance as other variable interest entities (“VIEs”).  The guidance changes the eligibility criteria for certain transactions to qualify for sale accounting and the accounting for certain transfers.  The guidance also establishes broad disclosure objectives and requires extensive specific disclosure requirements related to the transfers.  These changes became effective for TVA for any transfers of financial assets occurring on or after October 1, 2010.  The adoption of this guidance did not materially affect TVA’s financial condition, results of operations, or cash flows.

Variable Interest Entities.  In June 2009, FASB issued guidance that changes the consolidation guidance for VIEs.  The guidance eliminates the consolidation scope exception for QSPEs.  The statement amends the triggering events to determine if an entity is a VIE, establishes a primarily qualitative model for determining the primary beneficiary of the VIE, and requires on-going assessment of whether the reporting entity is the primary beneficiary.  These changes became effective for TVA on October 1, 2010, and apply to all entities determined to be VIEs as of and subsequent to the date of adoption.  The adoption of this guidance did not materially affect TVA’s financial condition, results of operations, or cash flows.

There were no accounting standards issued that were not yet effective and adopted by TVA as of June 30, 2011, that if adopted, would have materially affected its financial condition, results of operation, or cash flows.  However, in June 2011, FASB issued guidance that will require adjustments to the presentation of TVA’s financial information.  The guidance eliminates the current option to report comprehensive income and its components in the statement of changes in proprietary capital.  The guidance allows for presentation of net income and other comprehensive income in one continuous statement or in two separated, but consecutive statements.  These changes become effective for TVA on October 1, 2012.