Mark-to-Market Grain Accounting
This course concentrates on proper accounting procedures as they pertain to a basis trading operation, with special emphasis on Mark-to-Market valuations of cash grain and futures contracts.
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ABOUT THIS COURSE
Designed to give students a greater depth of knowledge in the way basis trading activities flow through the financial statement - from both the merchandising perspective and the accounting perspective - so that the methods of accounting that are most appropriate and suitable for the business can be decided and implemented.
Build common ground and understanding between the merchandiser, controller, bookkeeper, auditor, accountant and lender about how basis trading activity is reflected in the company's financial records
Course includes:
- 24/7 access to online instructional material
- Consultation with instructors via Zoom or telephone
- Hardcopy of The Grain Elevator's Practical Guide to Mark-to-Market Accounting
- Invitation to a future* Mark-to-Market Live Event
- CEU credits available for online modules and live event
- Cost | $3,500 USD per person
Registration
*2024 Live Event: June 25 & 26 in Mississauga, ON
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"I knew how to mark my positions to market before I took the accounting class last year, but now my financials actually make sense without the panic of a monthly fire drill. There are a lot of monthly fluctuations in our business and being prepared for those changes like the volatility with spreads this year helps to prepare my entire team including my banker and CPA for what is really happening at the elevator. Instinctively I always knew if something wasn’t right – now I can prove it!"
Marilyn Sullivan
Edgewood, IA
Course Syllabus
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Module 1: Mark-to-Market Essentials
7 Lessons + Practice + Assignment + Additional Studies
Objectives of this module:
- Clarify the purpose of mark-to-market
- Outline the mark-to-market routine
- Compare accepted valuation methods and their impact on the financials
- Learn how to do a basis analysis to gain a clearer understanding of the numbers
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Module 2: Structuring Sound Month-End Routines
5 Lessons + Assignments + Additional Studies
Objectives of this module:
- Examine "best practices" of mark-to-market in a grain operation
- Layout the process for valuing the futures side of the basis transaction
- Review recommendations for account set-up on Financial Statements
- Outline reversing entries needed at the start of a new month/year
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Module 3: Spreads, Options, and Other Accounting Issues
3 Lessons + Assignments + Additional Studies
Objectives of this module:
- Learn how pre-spreads enter the merchandising transaction
- Integrate spreads into the trade analysis
- Review the accounting of minimum price contracts
- Review other accounting issues you could encounter
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Supplemental Studies
Having a general understanding of basis trading concepts and practices is important to getting the most from this course. For those needing additional studies, this section contains a variety of training videos pertaining to different aspects of the practices of basis trading in a typical grain operation.
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Live Event: MTM Grain Accounting Workshop
Opportunity for all those who play an integral part in grain merchandising operations to come together for 1½ days to discuss issues specific to their success. This includes the merchandiser, general manager, CFO, controller, accountant, lender, and anyone else needing a deeper understanding of the connection between the merchandising, accounting, and financing sides of a grain operation. There is no additional charge to attend the live event for those enrolled in the course.
CEU credits available for online modules and live event.
Printed Edition of Textbook Included