In the Merger Mix: GAAP and Tax Strategies for Seamless Integration

CPE: 1 Credit Hour
Intended Audience: Geared for all cooperative types.

Join us for this exclusive 60-minute Zoom. Explore GAAP and tax considerations in the context of mergers and acquisitions; including accounting and tax strategies that foster seamless integration, ensure compliance, optimize financial reporting, and maximize the benefits of the combined entities. Patronage considerations pre and post-merger will also be discussed. 

Key Takeaways:

• Understand why cooperatives merge and the steps in the merger process including what should be considered at each step.
• Discuss why due diligence is important and the considerations around it.
• Understand the book and tax considerations in a merger

Presenter and Moderator Bios

Presenter: Rodney Graham, Senior Vice President & CFO, Keystone Cooperative

Rodney Graham, CFO & Senior VP, Accounting, IT & Credit.  With previous experience as a Controller, CFO and CEO in agriculture and logistics, Rodney is currently the Chief Financial Officer and Senior VP of Accounting, IT & Credit at Keystone Cooperative. He holds a bachelor's degree from Franklin College and an MBA from Ashland University. Rodney has also taught as adjunct faculty in the business schools of Butler University and University of Indianapolis. 

Presenter: Jim Halvorsen, CPA, Principal, CliftonLarsonAllen, LLP (CLA)

A graduate of the University of Wisconsin Eau Claire, Jim has more than twenty-three years of experience in public accounting. He specializes in providing auditing, accounting, and consulting services for cooperatives. Jim has extensive experience working with electric coops and agribusiness organizations.  Jim is a member of the firm-wide agribusiness and cooperative (ABC) group leadership team and is involved in providing direction and education for the ABC group to ensure clients receive the quality services they expect and deserve Jim has worked directly with clients to improve their internal accounting functions, controls, and financial statement reporting processes.  He has been involved with assisting management and the board of directors in improving their evaluation and review of month-to-month financial statements.  Jim has assisted grain elevators in understanding the impact on their margins related to price fluctuations and basis movement.  His involvement in various local and national organizations allows him to be a resource for the clients he serves.

Presenter: Rebecca Thoune, CPA, Signing Director, CliftonLarsonAllen LLP (CLA)

Rebecca Thoune has an extensive background providing tax planning and compliance for privately held companies, serving primarily cooperatives and the agribusiness industry. She works with clients on federal and state strategic tax planning, equity planning and management, maximizing cooperative and patron benefits, business structure consulting, and provides representation before the IRS and other state taxing authorities. Rebecca has 23+ years of tax experience in public accounting and has held various tax leadership roles throughout her career. Rebecca has spoken to various local and national organizations on technical tax topics such as the principles of cooperative taxation, tax planning and reform, equity management, COVID relief including PPP loans & forgiveness, and various state tax matters. Rebecca serves as the cooperative national tax director for CliftonLarsonAllen LLP. 

Moderator: Wayne Sine, Education Director, National Society of Accountants for Cooperatives

After retiring as Tax Director for Southern States Cooperative, Wayne Sine was asked to serve as Education Director for NSAC. He has been a long-time and active member of NSAC, having served as past President of the Atlantic Chapter and past Chair of the Tax Committee. In addition to his work with NSAC, Wayne has served on the Legal, Tax, and Accounting (LTA) Committee of the National Council of Farmer Cooperatives, Chaired the Tax Committees for both the Virginia Chamber of Commerce and the Virginia Manufacturers Association, served on the Tax Policy Committee of the Virginia Society of CPAs, and served as past Region Vice President for the Tax Executives Institute.