A specialty course that 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. 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 -
- Define and put in place a monthly routine that produces accurate and timely
financial statements.
- Understand the different ways mark-to-market valuations on cash grain positions
can be made and the effect each has on the financial statement.
- Make and record accurate valuations of Inventory, Purchase & Sales Contracts,
and Open Futures Positions in compliance with GAAP.
- Understand the impact changes in basis, spreads and price have on the Income
Statement.
- Know what to look for when the numbers don't make sense.
With the purpose of using the financial statements to effectively report, manage
and strengthen the financial health of the business -
- Present the company's financials clearly and confidently to the lender, board
member and other interested parties.
- Know what the lender looks for on your financial statements.
- Understand key financial ratios, what they tell about your business and what it
will take to improve your numbers.
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.
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View Course Syllabus
This course features a 1½ day Live Event for all enrolled.
There is no additional cost to attend besides travel expenses.
2019 Mark-to-Market Live Events
Wed., April 24 & Thurs., April 25 in Stratford, ON
TBD - US location/date
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