The annual conference of the Farm Financial Standards Council is scheduled for July 30-August 1 in Minneapolis. We’ll be talking a lot about our ongoing effort to “tune up” the Financial Guidelines for Agriculture as tax laws, practices, and industry standards change. The focus on this year’s conference will be on refining some specific areas of the Guidelines so they will continue to fit everyone who sits down to “play.”
(Please note that the conference will be held in Bloomington, Minnesota — not Illinois, as one earlier registration form indicated.)
Download the full information packet and registration form here.
Topics to be covered include:
— Recommendations on Using Financial Information (Section IV)
• Trends toward using financial data in farm benchmarking
• Issues to consider when using financial data for farm benchmarking • Accounting issues that can affect comparisons and interpretation of financial performance
— Using Financial Information in Farm Benchmarking
• How we use farm financial benchmarks with our clients
• How can financial benchmarking help farmers improve the financial
performance of their businesses
• What are some of the pitfalls of using financial benchmarks with
producers
— How do you handle Hedging?
• The difference between a cash flow hedge and a fair value hedge
• Two different methods for accounting for hedges
• Examples for crops and livestock using the two methods
— Evaluating the New Century Go-Go Farmers — The FFSC Online Education Program
PLUS
• A Special Presentation by Thomas Gillaspy, Ph.D., retired Minnesota State Demographer
• Annual FFSC Pro/Am Golf Classic (Want to put together a 4-some?)
• Minnesota Twins vs Kansas City Royals
(Optional activity. A block of tickets has been reserved for FFSC. Uncommitted tickets will be released on July 9. Therefore, reservations to be part of this group activities are required by July 8th. Those attending the game will go to the game as a group on the afternoon of July 31. You will be notified of a final price prior to the July 8 cutoff. Payment can be made with your conference registration.)
