Grain Accounting, Auditing, Tax, and Legal Update  (GATU)

6.00 CPE Credit Hours

An in depth study of the grain industry.

Designed For
CPAs in audit and tax practice, controllers, financial officers, and other financial managers who work with grain companies.

Objective
To bring you up-to-date on the latest in grain accounting, auditing, tax, and legal issues related to grain companies.

Highlights
Grain inventory, merchandising, contracting, and hedging concepts - accounting, audit, tax, and legal issues. Financial aspects of federal and state grain dealer and warehouse regulations. USDA, Iowa, Illinois, South Dakota.Financial statement reporting including accounting disclosures, grain analytics and financial ratio analysis.Grain inventory observation including grain measurements, grain quality, and grain bin safety issues.Production tax issues related to grain. IRC 263A UNICAP and IRC 199 Domestic Production Activities Deduction. AICPA Audit Guide: Audits of Agricultural Procedures & Cooperatives- concepts and issues for discussion. IRS Audit Technical Guide for Grain Farmers- concepts and issues for discussion.

Prerequisites
Experience working with or for grain companies

Advanced Preparation
None

Developer
Bergan Paulsen & Co PC

Presenters
Michael Regan,
Eric Thuente,

Level of Knowledge
Update