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Impact of New Accounting Standards and Interpretations
 3 Months Ended
Dec. 31, 2011
Accounting Changes and Error Corrections [Abstract]  
Impact of New Accounting Standards and Interpretations
Impact of New Accounting Standards and Interpretations

There were no accounting standards and interpretations that became effective for TVA during the quarter ended December 31, 2011 that, if adopted, would have materially affected  its financial condition, results of operations, or cash flows.

            The following accounting standards have been issued, but as of December 31, 2011, were not effective and had not been adopted by TVA.

Fair Value Measurement.  In May 2011, the Financial Accounting Standards Board ("FASB") issued amendments to achieve common fair value measurement and disclosure requirements to create consistency between GAAP and International Financial Reporting Standards ("IFRS”).  TVA does not expect the adoption of this guidance will materially affect its financial condition, results of operations, or cash flows.  These changes became effective for TVA on January 1, 2012.

Comprehensive Income.  In June 2011, the 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. 

Balance Sheet. In December 2011, the FASB issued guidance that requires disclosure about balances presented on a net basis in the financial statements, derivative assets and derivative liabilities, repurchase agreements, and financial assets and
financial liabilities executed under a master netting or similar arrangement. These changes become effective for TVA on October 1, 2013.  TVA is currently evaluating the potential impact of these changes on its financial statements and related disclosures.