Accounting for Grain Merchandising and Other Hedging Activities

Join us for this 60-minute Zoom designed exclusively for cooperative accounting and finance professionals seeking a deeper understanding of the intricate relationship between grain merchandising and hedge accounting under generally accepted accounting principles (GAAP). This comprehensive course delves into the financial accounting and tax implications associated with these practices, providing participants with the knowledge and skills necessary to navigate this complex landscape.

This webinar is tailored for cooperative accountants, financial professionals, and industry practitioners seeking an advanced understanding of the financial accounting and tax considerations inherent in grain merchandising and hedge accounting. Whether you are new to these concepts or looking to deepen your expertise, this course provides valuable insights and practical knowledge applicable to cooperative financial management.

Learning objectives:  

• Understand accounting principles related to hedging activities.
• Understand Grain Merchandising mechanics and financial statement impact of mark -to market accounting.
• Understand basic tax implications of hedging activities

Presenter and Moderator Bios

Presenter: Dennis Hicks, CPA, Principal, CliftonLarsonAllen (CLA)

Dennis D. Hicks, CPA is an assurance principal with CliftonLarsonAllen, LLP in Indianapolis, Indiana. With more than 35 years of experience, Dennis has extensive knowledge in serving clients in the agribusiness industry with an emphasis on grain merchandising, animal agriculture and cooperatives. Dennis specializes in accounting, reporting, and merger and acquisition services.

Moderator: Wayne Sine, CPA, Education Director, National Society of Accountants for Cooperatives (NSAC)

Wayne Sine is an experienced and highly knowledgeable professional in the field of Tax. Wayne recently retired as Tax Director from his company, Southern States Cooperative. He has extensive experience working with agricultural cooperatives and has been a long-time member of the NSAC. He is extremely active in the NSAC, serving as both past Chapter President of the Atlantic Chapter, and past Chair of the Tax Committee, and is currently serving as the NSAC Director of Education. Wayne's career is marked by several accomplishments, and he has always been involved in many organizations, spreading his knowledge. Wayne is a member of the Legal, Tax, and Accounting (LTA) Committee for the National Council of Farmer Cooperatives. He is also Past Chair of both the Tax Committee of the Virginia Chamber of Commerce and the Virginia Manufacturers Association. Wayne also served on the Tax Policy Committee at the Virginia Society of CPAs and served as past Region Vice President for the Tax Executives Institute.