Accounting & Auditing Track

Sun, July 31, 2016
1:00 p.m. - 5:00 p.m. A01. Intermediate Agriculture Cooperative Accounting
 

Phil Miller, NSAC Assistant Education Director
Bill Erlenbush NSAC Education Director
Constitution E – Constitution Level
This session will provide participants with a mix of background information on various cooperative related accounting procedures both involving basic and some advanced accounting concepts. The session will address Equity Management, Inter-Cooperative Investments, Co-op GAAP and Co-op Financial Statements
Course Level: Intermediate
Field of Study: Accounting
CPE Hours: 4.5 CPE

 
Mon., Aug. 1, 2016
9:10 a.m. - 10:10 a.m. A02. The Role of the Board of Directors and Audit Committee within a Cooperative
 

Todd Eskelsen, Partner Schiff Hardin LLP
Constitution B- Constitution Level
The board of directors and audit committee play vital roles in the management and direction of a cooperative. This session will highlight the role of these groups within a cooperative organization and discuss how cooperative management should interact with those individuals.
Course Level: Overview
Field of Study: Business Law
CPE Hours: 1 CPE

   
10:25 a.m. - 11:20 a.m. A03. Crisis Management in the Coop IE: Terrorist attacks, accidents, natural disasters or a fatality
 

Laurie Richards, Laurie Richards & Associates
Farragut Square & Lafayette Park- Independence Level
Are you a Controller, CEO, CFO, or other C-Suite holder? Is your inventory safe from a terrorist? If the Co-op had a fatal accident, a natural disaster, Cyber attack, or Data breach; when the TV crew shows up at the front door,who would say what? Who in your firm will contact relatives, customers, and regular and social media? This session will help you identify how to position your business to avoid PR issues.
Course Level: Basic
Field of Study: Management Advisory Services
CPE Hours: 1CPE

   
12:45 p.m. - 1:45 p.m. A04. FASB Update
 

Ryan Egan, Project Manager, FASB
Independence Ballroom- Independence Level
A current update on items being considered before FASB, and a look into the next generation of accounting concerns for this governing body
Course Level: Overview
Field of Study: Accounting
CPE Hours: 1 CPE
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2:10 p.m. - 3:05 p.m. A05. The New Lease Accounting Standard-Here at Last
 

 

Jeff Dieleman, CPA, Partner Moss Adams LLP
Constitution B – Constitution Level
New lease accounting provisions have been in the works for more than a decade.  In February, 2016, the FASB issued the new standard.  Find out the new lease accounting provisions, how they impact your business and when they will be effective.
Course Level: Basic
Field of Study: Accounting
CPE Hours: 1 CPE

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3:20 p.m. - 4:15 p.m A06. Designing Effective Internal Controls for Small Cooperatives
 

Tom Foreman CPA,  Crowe Horwath
Constitution B- Constitution Level
After attending this session, attendees should be able to  identify controls that they can implement with limited resources with the intent to reduce current threats.
Course Level: Basic
Field of Study: Auditing
CPE Hours: 1 CPE

 
Tue., Aug. 2, 2016
9:15 a.m. - 10:10 a.m. A07. FASB’s New Revenue Recognition Standard: ASC 606, Revenue from Contracts with Customers: Introductory Overview and Tax Considerations
 

Eric Lucas, Principal Washington National Tax, KPMG LLP,
Stephanie Petruzzi,Manager KPMG LLP
Independence Ballroom – Independence Level
In this tax and accounting oriented session, we will provide an introduction geared to tax professionals on the principal elements of the new standard for revenue recognition on contracts with customers, with a focus on tax implications: how will the new standard affect existing tax accounting methods for revenue recognition, process of evaluating the tax effects and potential for changes of tax accounting methods; discussion of current process for filing Form 3115, application for change in accounting method with the IRS National Office.
Course Level: Overview
Field of Study: Accounting

CPE Hours: 1 CPE

   
10:25 a.m. - 11:20 a.m. A08. Private Company Council: Small Business Advisory Committee Update!
 

Russ Wasson, CPA, Senior Associate Director - Tax, Finance & Accounting Policy, NRECA
Independence Ballroom- Independence Level
This session will introduce you to the Private Company Council, established in 2012 by the Financial Accounting Foundation (FASB's oversight body), to improve the process of setting accounting standards for private companies. Learn who the PCC is, how they are impacting new standards, how co-ops are involved and why it is important that co-ops and NSAC stay involved.
Course Level: Basic
Field of Study: Accounting
CPE Hours: 1 CPE

   
1:00 p.m. - 1:55 p.m. A09. The New Lease Accounting Standard-Here at Last
 

Jeff Dieleman, CPA, Partner Moss Adams LLP
Constitution B- Constitution Level
New lease accounting provisions have been in the works for more than a decade.  In February, 2016, the FASB issued the new standard.  Find out the new lease accounting provisions, how they impact your business and when they will be effective.
Course Level: Basic
Field of Study: Accounting
CPE Hours: 1 CPE

   
2:10 p.m. - 3:05 p.m. A10. Internal Controls: Large Coop
 

Melissa Baur, Federal Sector Leader, Crowe Horwath LLP
Constitution B – Constitution Level
This session is designed to provide an overview of current risk management trends which could benefit large cooperatives. We will cover continuous risk assessment, cyber security, and third party risks addressing how these fit into an overall risk management program and are supported/mitigated by an entity’s internal control environment.
Course Level: Basic
Field of Study: Auditing

CPE Hours:
 1 CPE

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3:20 p.m. - 4:15 p.m A11. The  top 10 Cooperative Fraud Schemes of 2016!
 

Jeff Brandenburg, Principal CliftonLarsonAllen LLP
Constitution B- Constitution Level
Let’s face it, statistics show that every organization has some level of fraud, waste and abuse occurring. In this session we will talk about the top 10 fraud schemes seen at cooperatives and what you can do to help prevent, and detect, them from happening to you. This session will include real example seen at cooperatives and will invite the audience to participate.
Course Level: Basic
Field of Study: Auditing
CPE Hours: 1 CPE

   
4:30 p.m. - 5:25 p.m. A12. Open Forum Discussion
 

Various
Independence B-E – Independence Level
The distinctions between the historical small and large Cooperatives continues to diminish with regards to tax and accounting issues. In 2016 the small and large roundtables are combined to enhance the learning experience for all
Course Level: Basic
Field of Study: Accounting & Tax
CPE Hours: 1 CPE
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