Jul 26, 2016 10:18:51 AM
Oct 28, 2014 11:00:00 AM
As the Controller, CFO or CPA responsible for producing financial statements for your company’s grain division, do you sometimes feel that you are talking a different language than those around you? Are there times when others disagree with the numbers even though you know everything is correct? Can you discern why the numbers look the way they do from a merchandising perspective? Are you as confident as you would like to be discussing the financial statement with the owner, grain manager, Board of Directors or lender and in terms they understand?
Don’t feel alone. The truth is, the complexity of today’s grain businesses require you and your grain accounting team not only to be skilled in the practices of accounting, but to also have a detailed working knowledge of basis trading, spreads and market values-- concepts and practices never taught in your accounting classes.
Aug 12, 2014 11:00:00 AM
Volatile prices and the difficulty accessing credit during peak financing periods opened the market to provide commodity futures swaps as a method of grain elevator financing.
Aug 5, 2014 11:00:00 AM
Volatile prices mixed with a need to build working capital and equity pushed inventory repurchase agreements into the grain elevator financing and Mark to Market discussion for grain companies.
May 16, 2014 10:27:00 AM
Once the documents are assembled and the choice is made as to what method of mark-to-market to use, the rest is a matter of doing the calculations and making the entries. This job is easy with a simple routine. The task is to come up with seven general journal entries.