Interactive Event Calendar

2010 Dairy Cost Accounting Workshop

May 11-12, 2010

Hyatt Regency Rosemont | Rosemont, IL



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Overview

Attention Dairy Accountants and Financial Managers: Are you up to speed in the latest software, best practices, tax breaks and pricing information?

Attend IDFA's 2010 Dairy Cost Accounting Workshop to increase your accounting efficiency, strategy and skill.

Learn what you need to do right now to ensure your company is performing at maximum capacity in the accounting department. This two-day workshop will give you the latest information to remain or become a top dairy accountant or financial manager.

The Dairy Cost Accounting Workshop sessions are designed to bring you up to date on the current issues and best solutions the industry has to offer. Whether you're new to the position and need to increase your cost accounting know-how or simply want to know how to streamline your plant's finances, this workshop is for you.

From milk pricing to depreciation, from risk management to strategic planning, these 18 highly informative sessions will give you the tools you'll need to expand your knowledge of the dairy industry.

Exploring top trends in the dairy industry and how they apply to dairy cost accounting will give you the skills you need to enhance your company's bottom line and your career.

Please be sure to make your reservations at the Hyatt Rosemont on North River Road and specify this location, not  the Hyatt Regency O'Hare, when traveling to the hotel by cab or shuttle. 

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Agenda

Day One - Tuesday, May 11, 2010

8:00 a.m.

Registration and Continental Breakfast
8:30 - 9:00 a.m.

What's HOT in the Dairy Industry?
This session will outline important trends and current events and how they affect dairy financial professionals.
9:00 - 10:30 a.m.

Go to the Head of the Class: Basic Milk Pricing
This session will review the basics of milk pricing regulations and how they apply to dairy cost accounting. Learn what Federal Milk Marketing Orders are, how milk prices are calculated, which products are in each class and more. Case studies on fluid milk costing, monthly milk price changes and calculating prices for component values and classes will help you understand how milk pricing applies to your daily job.
10:30 - 11:30 a.m.

Milk Pricing and the Finished Product
Building on a basic understanding of milk pricing regulations, this session will take a look at how to determine costs for fluid cream, ice cream, cheese, condensed skim milk and more. It will also cover costing and yield for nonfat dry milk powder and butter, and show how additional processing, such as shredding or grating cheese, can affect your costs. Case studies on ice cream and cheese costing will be presented.
11:30 a.m. - noon

The Tax Man Cometh, but Tax Credits Are Available
Expenditures for product improvement and plant efficiency can result in significant tax savings. Explore how the Research & Experimentation Federal Tax Credit for a dairy manufacturer applies to your operation and how to take advantage of this valuable tax credit.
Noon - 1:00 p.m.

Group Luncheon
1:00 - 1:30 p.m.

Cost Segregation: How to Put Depreciation to Work For You.
The Internal Revenue Service offers a much faster depreciation method for some types of buildings and building components than others. Learn how cost segregation can help your company at tax time.
1:30 - 2:30 p.m.

The "NEW" Dairy Cost Accountant
Dairy cost accountants play an important role in strategic planning for a dairy company, and this role is particularly important in raw milk acquisition. Some of the controversial and evolving areas the session will cover are:

  • Paper pooling, distant pooling and de-pooling

  • Over-order premiums

  • Federal-order-regulated vs. non-regulated plants

  • California milk pricing

  • Cost accounting using milk components versus skim and butterfat

  • New products with longer shelf life (ESL and aseptic)
2:30 - 4:00 p.m.

Keeping the Glass Half Full
Explore accounting strategies that will help to keep costs down and profits up. These include:

  • Analytical costing of purchased products and containers

  • Cost accounting for container and packaging

  • Product line cost analysis

  • Delivery dynamics - warehouse vs. store door

  • Route distribution analysis and profitability
4:00 - 5:00 p.m.

Checking All the Boxes
Preparing accurate and timely federal order and state milk reports are a major component of the dairy cost accountant's job. This session will explore proven preparation techniques for improving these reporting tasks.

Day Two - Wednesday, May 12, 2010

8:00 a.m.

Registration and Continental Breakfast

8:30 - 9:30 a.m.

Trend Setting: Using Lean Manufacturing to Your Advantage
Lean manufacturing - breaking each production step down to its essentials to increase efficiency - is becoming increasingly popular in dairy plants. Learn how you can work this trend to your advantage by applying the same concepts to the accounting department. This session will also explore how to use lean manufacturing to more accurately demonstrate the cost of adding a new line, such as drinkable yogurt or milk beverage processing, to your 9:30 - 10:00 a.m.plant.
9:30 - 10:00 a.m.

The Customer Is Always Right: Cost Accounting for Customer Contracts
This session will examine standard costing techniques to use when a customer's invoicing depends on specific costs in your operation.
10:00 - 10:30 a.m.

Financing in the Best and Worst of Times
From borrowing for capital investments to obtaining working capital, access to financing is critical to the success of a dairy plant. This session will explore financing strategy that can work during tough financial times and will examine leasing as an alternative financial model.
10:30 - 11:00 a.m.

New Software for Accountants
Up-to-date accounting software can be the difference between a headache and a hallelujah. This session will discuss the selection and installation of new dairy software and review how to troubleshoot roadblocks associated with software installation and daily use.
11:00 a.m. - noon

Speaking the Same Language: Financial Statements and Reporting
Learn how the accounting and finance department can redesign financial statements to communicate more effectively with management. This session will also cover how to provide a dashboard view of the business to your colleagues that includes:

  • Activity analysis and key performance indicators

  • Reporting cost per gallon in fluid plant

  • Reporting cost per pound in cheese plants

  • Financial reporting to non-financial managers

  • Balance sheet analysis and key ratios
Noon - 1:00 p.m.

Group Luncheon

1:00 - 2:00 p.m.

Controlling Shrinkage
This session will help you determine the source of shrinkage in your facilities, and then outline the steps you need to take - in processing, accounting, distribution, and sales and marketing - to control it. You will learn how to construct a daily milk loss report for a cheese plant.
2:00 - 2:30 p.m.

Developing Cost Centers
You'll learn how to setup and apply cost centers to each product your plant produces. The session will highlight specific examples of a variety of product lines, including cultured products, cheese, milk and ice cream.
2:30 - 4:00 p.m.

Accounting Accountability: Best Practices and Industry Benchmarks
Every successful financial manager needs to know effective ways to measure plant efficiency. You'll learn proven best practices and industry benchmarks used to account for dollars, product pounds, butterfat, people and hours.
4:00 - 4:30 p.m.

Managing Milk-Price Risk
Recent changes to the Federal Milk Marketing Orders allow forward contracting for fluid milk. That's good news for financial managers, but just how does that affect your plant's accounting function? Learn the latest techniques to help your plant manage risk. Discussion of differences and similarities of forward contracting and hedging.
4:30 - 5:00 p.m.

Dairy Formulas: A "How To" Workshop
This session will look at the costing of several complex dairy products not already covered over the past two days. Attendees are encouraged to bring batch formulas to discuss with the workshop leaders.

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Hotel and Travel

This year, the 2010 Dairy Cost Accounting Workshop will be held at the Hyatt Regency Rosemont. April 9, 2010 is the deadline to secure a room at the discounted IDFA rate of $129. Reservations can be made by calling the hotel directly at 847-518-1234.Hyatt Regency Rosemont

A large block of rooms have been secured; however, once all the rooms have been reserved, we cannot guarantee that additional space will be available. Check-in time is 3:00 p.m., check-out time is noon.

Address
6350 N. River Road,
Rosemont, Ill., 60018
Tel: 847-518-1234
Fax: 847- 518-0855

Website
www.rosemont.hyatt.com

Services and Amenities
• Complimentary transportation to and from O'Hare International Airport.
• Handicap accessible
• Business center services available
• High speed internet access available in Lobby area, Lounge/Restaurant, Meeting
• Rooms and Sleeping Rooms
• Complimentary covered parking
• Laundry and dry cleaning
• Multilingual staff
• Safe deposit boxes at front desk and in rooms

Dining

River Terrace Cafe
Enjoy breakfast, lunch and dinner in the inviting River Terrace Cafe. From robust sandwiches and steaks to lighter health conscious fare, the American cuisine will delight every palate.

Cuisine:
Contemporary American

Dress Code: Casual
Opening Dining Hours:
6:30 a.m. to 11:00 p.m.

Lounge Hours:
4:00 p.m. to midnight
Food service ends at 11:00 p.m.

River Terrace Lounge
Located within the River Terrace Cafe serving a wide selection of fine spirits, wines and beers. Enjoy your favorite beverage and catch the latest news and sporting events on a plasma screen or one of the multi-screen televisions. Full menu selections are available.

Hours: 4:00 p.m. to midnight, daily
Food service ends at 11:00 p.m.

Recreation

Local Attractions:

• Allstate Arena
• Donald E. Stephens Convention Center
• Jogging and Biking Paths
• White Pines Golf Course

Getting to Rosemont

Getting There By Air


The city of Rosemont is served by O'Hare International Airport. We are pleased to announce discounts with American, Continental, Delta/Northwest, JetBlue and United Airlines for the IDFA Dairy Cost Accounting Workshop.

American Airlines offers a 5 percent discount off published fares. The discount applies to all applicable fares that are available for your date and time of travel. To make a reservation, visit www.aa.com and use the authorization number 9750AB as the aa.com promotion code or please call the American Airlines Meeting Services Desk at 800-433-1790

Continental Airlines offers discounts off published fares of 2 to 15 percent or Zone Fares. Book your reservations online at www.continental.com for maximum savings and receive an additional 3 percent discount off the published fares. Click on www.continental.com and choose your flight times and access your meeting discounts by inserting ZG1KAW5HQS in the offer code box.

Or you may call your travel professional or Continental MeetingWorks at 800-468-7022 Refer to Z Code ZG1K and Agreement Code AW5HQS

Delta and Northwest Airlines are pleased to offer discounted airfares. Use WorldFile/Ticket Designator NY295 to purchase your tickets online and discounts from 2 - 7 percent will be applied. Individuals should go to www.nwa.com, and travel agents should go to www.worldagentdirect.com. Northwest will provide reservations and ticketing assistance at 800-328-1111.

JetBlue Airways offers a 5 percent discount on the lowest available fare by simply booking online! To make a reservation, visit www.jetblue.com/promo and use DAIRYACCOUNTING as the promotion code.
If you have any questions just contact our dedicated Meetings Desk at 888-JET-BLUE (538-2583), option 4 or jetblueconventions@jetblue.com

United Airlines offers 5 to 10 percent off published fares. To make a reservation, please visit www.united.com and use the meeting ID 586MT as the united.com promotional code.
Or call the Meetings Plus reservation service at 800-521-4041

Getting to the Hyatt Rosemont

From O'Hare Airport:
I-190 East toward Chicago to the River Road North exit. Follow River Road 1/2 mile north to Devon Avenue. Turn left. The hotel is located on the corner of Devon and River Road.

Hyatt Rosemont Shuttle
Cost: Complimentary
Pick up Details: Runs every 15-20 minutes from O'Hare bus/shuttle center door #1. Follow the RED bus/shuttle signs to the designated pick-up. The shuttle runs from 6 a.m. - midnight. The shuttle travels between Hyatt Rosemont, Hyatt Regency O'Hare and the Airport. (Between midnight and 5 a.m. use the courtesy phone located at the baggage claim to arrange pick-up.)

Where's the Hyatt Rosemont Shuttle Bus?

The new Bus/Shuttle Center is an indoor facility that has seating, heating, air conditioning and concessions. However, the center is a three-to-six minute walk from the baggage claim area, which is currently the regular pick up area for taxis, limousines, and other ground transport.

The complimentary Hyatt Rosemont shuttle bus service runs approximately every 15 minutes, 24-hours per day. The Hyatt Rosemont shuttle bus picks up only at Door #1 at the Shuttle Center for domestic flights.
If you arrive on an international airline, please proceed to terminal 5E and call for the shuttle from our courtesy phone.

Departure to the airport from the Hyatt Rosemont will be a direct route to the airport, and our driver will take you directly to your terminal.

DIRECTIONS:
The Bus/Shuttle Center is centrally located between Terminals 1,2, and 3. Follow the overhead signs in the Baggage Claim (Lower Level) areas of each Domestic Terminal to the nearest underground Pedestrian Walkway. Proceed to Elevator Centers 3 or 4 and press the Bus/Shuttle Center button.

MIDWAY AIRPORT SHUTTLE:
The Omega Shuttle service from Midway to O'Hare International Airport is located at door M-1 outside of Southwest Airlines. The Omega shuttle runs every hour on the hour from 7 a.m. - 10 p.m. 7 days a week. This service, with a fee of $17.00 one way, does not require advance reservations. The shuttle will bring you directly to Door 5 at the O'Hare International Airport's Shuttle Center. Please wait for the blue Hyatt Rosemont Shuttle bus at Door 1. Our shuttle runs every 15 - 20 minutes.

Directions to the Hyatt Rosemont:

From Midway Airport:
Follow 294 North until you see 109 West O'Hare River Road. Stay in your left lane and pay the toll. Exit on River Road to the right. Follow River Road for two blocks and the hotel is on the left on the corner of Devon and River Road.

From Downtown Chicago:
Take I-90 (Kennedy Expressway) West, following the signs to O'Hare Airport, to HWY I-190 and exit at River Road. Turn left at the light and travel 1/2 mile north to Devon Avenue. Turn left. The hotel is located on the corner of Devon and River Road.

From I-294 (Indiana/Michigan):
I-294 North to I-190 O'Hare, exit River Road. Turn left onto River Road and travel 1/2 miles north to Devon Avenue. Turn left. The hotel is located on the corner of Devon and River Road.

From I-294 (Milwaukee):
I-294 South to I-190 West, O'Hare exit. Proceed through the tollbooth and exit at Mannheim Road South. At the top of the exit ramp, follow the signs on the right for I-190 East to Chicago. Follow I-190 East to the River Road North exit. Follow River Road and travel 1/2 mile north to Devon Avenue. Turn left. The hotel is located on the corner of Devon and River Road.

From I-90 (Rockford/West Suburbs):
I-90 East towards Chicago to I-190 West, O'Hare exit. Proceed through the tollbooth and exit at Mannheim Road South. At the top of the exit ramp, follow the signs on the right for I-190 East to Chicago. Follow I-190 East to the River Road North exit. Travel 1/2 mile north on River Road to Devon Avenue. Turn left. The hotel is located on the corner of Devon and River Road.

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Frequently Asked Questions

1. When will the 2010 Dairy Cost Accounting Workshop be held?
IDFA's Dairy Cost Accounting Workshop will be held Tuesday, May 11 through Thursday, May 12, 2010.

2. Why should I attend the Dairy Cost Accounting Workshop?
The Dairy Cost Accounting Workshop is an annual event where you can learn what you need to do right now to ensure your company is performing at maximum capacity in the accounting department. This two-day workshop will give you the latest information to remain or become a top dairy accountant or financial manager.

3. Who attends the Dairy Cost Accounting Workshop?
Whether you're new to the position and need to increase your cost accounting know-how or simply want to know how to streamline your plant's finances, this workshop is for you.

4. Will there be exhibits?
No, there are no exhibits for this event.

5. Which hotel has been reserved? What is the rate?
The Dairy Cost Accounting Workshop will be held at the Hyatt Regency Rosemont in Rosemont, Illinois. IDFA has a special room rate of $129 per night.

6. Can I make my hotel reservations now?
Yes, you can make your reservation directly with the hotel by calling 847-518-1234 to reserve your room today. When calling, refer to IDFA's Dairy Cost Accounting Workshop to receive the special room rate.

7. What is the schedule for the Dairy Cost Accounting Workshop?
The agenda, including a program and activities schedule, is available online. Please note that the program schedule is subject to change.

8. How do I register for the Dairy Cost Accounting Workshop?
The fastest and easiest way to register is online.
You may also email your registration to registrar@idfa.org, fax it to 202-331-7820 or mail it to IDFA Registrar, 1250 H St, NW, Suite 900, Washington, D.C. 20005.

9. What is the registration fee?
The price of the Dairy Cost Accounting Workshop is based on membership. The member price is $895; the non-member price is $1,095. If you have questions about membership, please email membership@idfa.org.

10. What does my registration fee include?
Your registration fee includes two continental breakfasts, lunch both days, and coffee breaks. You will also receive conference materials with printed PowerPoint presentations from each of the sessions.

11. Will I receive a confirmation of my registration?
Yes, you will receive a confirmation for your registration via e-mail or fax. It will contain detailed information about this year's Dairy Cost Accounting Workshop.

12. What is the registration cancellation/refund policy?
Full refunds will be granted for written cancellations received up to three weeks before the meeting. Cancellations received one to three weeks before the meeting will be eligible for a 50 percent refund. No registration refunds will be granted after May 4, 2010. All cancellations must be received in writing. Substitutions may be made without penalty.

13. I am a member of the news media, do you have press registration?
Please contact Jessica Lee, coordinator for meetings and educational services, at 202-220-3532 or jlee@idfa.org for special consideration.

14. Are there any airfare discounts?
Yes, IDFA has partnered with various airlines to offer discounts to attendees. We are pleased to announce discounts with American, Continental, Delta, Jet Blue and United Airlines. Visit the hotel and travel section for more information.

15. What is the dress code?
Business casual attire is highly recommended.

16. My question is not here! Who should I contact?
If you have further questions about the 2010 Dairy Cost Accounting Workshop, please contact Kellie Bland, meetings assistant & registrar, at 202-220-3557 or kbland@idfa.org.

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How to Register

Registration for this event is closed.

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