3-Hour Advanced Co-op Accounting Course Session 2

Date: Thursday, March 27, 2014
Time: 12:00 PM ET / 11:00 AM CT / 10:00 AM MT / 09:00 AM PT [Prevailing Time]
Presenters: Phil Miller, Don Frederick
Moderator:
Learning Objectives:
Provide participants with background information on certain cooperative-related areas, with a goal of increasing their understanding of these areas.
Field of Study: Accounting
Program Level: Basic
CPE Credit: 3 Credit Hours
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
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Course Description

This 3-hour, 3-CPE credit course is designed for recent hires and other employees of cooperatives and firms serving cooperatives that can benefit from training in the unique nature of cooperatives. The three modules presented in this course include Hedge Accounting for Co-ops, Advanced Cooperative Taxation and Co-op Ratio Analysis. Hedge Accounting for Co-ops This one-hour course is one of the modules contained in the NSAC Advanced Accounting Course, taught at an intermediate-advanced level. The course defines Hedging for Co-ops, and outlines the reasons Co-ops hedge, especially the role of Commodities. It discusses Basic Hedging Instruments, the role of FASB No. 133, and provides illustrative examples of determining Effectiveness. The course concludes by discussing the more recent accounting pronouncements that impact Hedge Accounting. Advanced Cooperative Taxation This one-hour course is one of the modules contained in the NSAC Advanced Accounting Course, taught at an intermediate-advanced level. The course starts with a short review of Basics of Co-op Taxation. It then discusses Patronage and Non-patronage Income, Section 521 Cooperatives, the Handling of Losses for tax purposes, and Equity Redemption issues. The course concludes with a discussion the Domestic Production Activities Deduction. Co-op Ratio Analysis This one-hour course is one of the modules contained in the NSAC Basic Accounting Course, taught at an intermediate-advanced level. The course starts with a discussion of the Rational for Ratio Analysis at Cooperatives and why Ratios differ at Cooperatives. It then discusses the different Types of Ratios (Liquidity, Leverage, Activity, Profitability) and Special Ownership Ratios for Co-ops. The course concludes with a shot discussion on USDA Stats on Co-ops.

Presenter and Moderator Bios

Presenter: Phil Miller

Philip W. Miller is the Executive Secretary and chief executive officer for the Virginia Cooperative Council and the Virginia Foundation for Cooperation, both headquartered in Richmond, VA. In 2009 he retired as Vice President & Controller for Southern States Cooperative in Richmond, Virginia, after a thirty-six year career. While at Southern States, he served as an Internal Auditor, Senior Auditor, Assistant Manager of Internal Audit, Manager of Corporate Accounting and Assistant Controller before being promoted to Controller in 2000. Prior to his joining Southern States, Phil worked for Walden Inventory Services. Prior to that, he served for two years in the United States Army as a member of the President’s Honor Guard in Ft. Meyer, Virginia. Phil received his BA in Economics from Berea College in 1968 and completed post graduate studies in Accounting at Virginia Commonwealth University in 1978. He is a retired licensed CPA in Virginia and former member of the AICPA and the Virginia Society of CPAs. Don Frederick served as NSAC's Director of Education from August of 2007 through March of 2012. His responsibilities included preparing educational materials on cooperative accounting, finance, and taxation and coordinating the development of program content for NSAC live and web-based educational seminars. Before joining NSAC, Don spent two decades as Program Leader for Law, Policy, and Governance with the Cooperative Programs group at the U.S. Department of Agriculture. Before then, Don spent several years on the legal staff of the National Council of Farmer Cooperatives and time as a staff attorney in the USDA Office of the General Counsel. In October 2007, Don was designated as an Honored Cooperator by the National Cooperative Business Association. In August, 2008, he received NSAC's highest honor, its Silver Bowl Award, for "service which has enhanced, to an unusual degree, the image and operations of the National Society of Accountants for Cooperatives and the cooperative community in general."

Presenter: Don Frederick

Cost
$85.00 for NSAC Members / $120.00 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.