Earlier this month, I, along with a number of our agribusiness team members, attended the 2012 National Society of Accountants for Cooperatives (NSAC) Tax and Accounting Conference for Cooperatives in Las Vegas. The NSAC Conference is always a highlight for me – I am able to gain valuable information from other agricultural cooperatives and accounting firms from all across the country and bring that knowledge back to our clients, employees, and Midwestern communities.
Our team was able to delve deeper into technical areas such as the financial standards updates, lease accounting standards, and current cooperative tax developments. We were also able to learn from other firms about their real-world experiences with advanced fraud interviewing skills and investigative techniques, enterprise risk management and management decision making.
One of the best things about this conference is the opportunity to get to know others in the field and build relationships with the best agribusiness accountants and CPAs in the country. During the NSAC Conference, members are awarded for their efforts, and one of which awards is the Silver Bowl Award. This year, two well deserving individuals received the award – Russ Wasson and Mike McIntyre. Sadly, Mike received his award posthumously, but the NSAC really honored his dedication and passion for the industry and the organization through a wonderful awards luncheon.
For me, the highlight of the conference was the Large and Small Cooperative Roundtable Panel at the end of day two. Members discussed current accounting and tax issues through informal industry break-outs for grain, dairy, marketing, and supply cooperatives.
The three-day conference concluded with all of us coming together to review the state of the agribusiness industry. As our clients know, the agribusiness industry is constantly changing, and the session provided timely insight on global economies in transition and the implications for rural America. It was also an opportunity to celebrate 2012 being the International Year of the Cooperative.
Oh, and I couldn’t visit Vegas without checking out some of the sites! The NSAC’s President’s Reception was held at Planet Hollywood offering the opportunity to visit with other conference attendees in a more relaxed setting. We met up with several accountants from other cooperatives at spots such as Margaritaville and Toby Keith’s I Love This Bar & Grill (to name a couple!) along the Las Vegas Strip.
I always leave the NSAC Conference refreshed and energized – and looking forward to what is in store for 2013!
With a combination of audit and tax experience, Mike brings his clients a unique perspective. Having grown up on a dairy farm in Waukon, IA, Mike knows the dedication necessary to make an agribusiness successful. Specializing in analyzing and providing business recommendations to agribusiness cooperatives, private elevators, and farmers, Mike works hard to help his clients become more profitable while maximizing working capital and minimizing income tax liabilities. Read more about Mike.
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