Topic: Introduction to Hedging

Date: Thursday, July 16, 2009
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenter(s): Bob Beerup, CPA - Illinois Agricultural Auditing Association
Learning Objectives:
At the conclusion of the presentation, the particpant will understand:
• the definition and purpose of hedging
• basic principles for effective hedging
• costs associated with hedging
• common hedging tools and strategies
• how and why hedging with futures works
Field of Study: Specialized Knowledge and Application
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

This presentation is intended to provide a basic introduction to the fundamentals of hedging in a broad sense – what it is, how and why it works, what it does and does not accomplish, and associated costs.

The presentation includes lecture and illustrations. The illustrations provided in the session will focus on the use of futures as a hedging tool in a grain elevator environment, but the basic principles will apply to any hedging scenario. This presentation focuses on the economic impact of hedging, not on the related accounting principles and procedures.

Presenter and Moderator Bios
Bob Beerup has been involved in the audits of farm supply and grain marketing cooperatives, other agribusiness organizations and nonprofit organizations for more than 30 years. Bob currently serves as an audit manager for the Illinois Agricultural Auditing Association, a cooperative public accounting firm. Bob also is a member of DBH & Associates, LLC, a traditional public accounting firm. IAAA and DBH serve clients in Illinois, Indiana, Iowa, Missouri, Kentucky, Wisconsin and Connecticut.

Bob is a long-term member of NSAC, currently serving as assistant editor of the “ACCTFAX” column of The Cooperative Accountant magazine. During Bob’s tenure with NSAC he has served as president, chair of the Accounting and Auditing Committee, chair of the Membership Development Committee and vice-chair of the TCA Committee. He has authored a number of articles that have been published in TCA, and has developed or updated several sections of NSAC’s basic and advanced cooperative accounting seminar materials. Bob is a frequent speaker on accounting and auditing topics for NSAC chapter meetings and other professional education events.

Bob has served as an industry expert in the AICPA’s annual updates to the Audit and Accounting Guide, “Audits of Agricultural Producers and Agricultural Cooperatives.” Bob also has represented cooperatives in testimony provided to the Financial Accounting Standards Board regarding accounting for business combinations and other accounting issues.

Bob is a member of the Illinois CPA Society and a past member of the board of directors of the Grain & Feed Association of Illinois.

Cost
$56.00 for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.