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Two Classic Workshops Return to IDFA Spring Lineup

Nov 12, 2015

Spring training isn’t just for baseball anymore.

IDFA has announced the dates for two of its classic technical courses: the Milk Procurement Workshop, April 5-6, and the Dairy Accounting and Finance Workshop, May 11-12. Led by industry and subject matter experts, these workshops will offer a straightforward look at several dairy fundamentals, allowing new employees to develop the skills they need and seasoned professionals to further hone their skills.

Milk Procurement Workshop

Offered only once a year, this workshop provides a hands-on overview of milk price regulations for dairy industry professionals who need to know how dairy’s complicated regulations affect their business.

The course will be led by Bob Yonkers, Ph.D., who is vice president and chief economist for IDFA and a nationally recognized milk pricing expert. Yonkers analyzes the economic impacts of marketing conditions, government regulations and alternative policies on U.S. and international dairy for IDFA. He will offer his insight and experience during the workshop, providing:

  • an industry overview and introduction to price and income support programs and trade policies;
  • the essentials of the Federal Milk Marketing Order System;
  • component and class price formulas, minimum prices paid by plants, minimum prices received by dairy producers, milk pooling, and other features of milk price regulation; and
  • risk management concepts like forward contracting and futures and options for dairy.

“Navigating the pricing policies of dairy gets complicated, both inside and outside the Federal Milk Marketing Order System,” said Yonkers. “That’s why it is important for both new and established professionals in the industry to take the time to keep up, and this is course that can help.”

Register here for IDFA’s Milk Procurement Workshop, April 5-6 in Rosemont, Ill.

Dairy Accounting and Finance Workshop

Presented by Herbein + Company, Inc., a professional services firm, this workshop will help dairy accountants and financial managers learn strategies and skills to both enhance their understanding of corporate financial functions and increase the profitability of their companies.

Efficiency, strategy and skill will be the focus of every session. Carl Herbein, president and CEO of Herbein + Company, and Ronald Mong, CPA and senior manager, will cover the following topics:

  • the Federal Milk Marketing Orders and pricing formulas;
  • forward contracting and hedging in price risk management;
  • best practices in financial reporting for dairy plants;
  • hot topics for chief financial officers and controllers;
  • cooperative accounting, cost-reduction and merger acquisition techniques; and
  • controlling milk shrinkage and pooling.

Other sessions will review the latest financial software, industry news and benchmarks for cheese, ice cream, milk and cultured products.

Sixteen hours of Accounting and Auditing Continuing Professional Education Credit (CPE) will be awarded with the completion of this workshop.

Register here for IDFA’s Dairy Accounting and Finance Workshop, May 11-12, in Rosemont, Ill.

For more information, contact Maria Velasco, IDFA meetings coordinator and registrar, at mvelasco@idfa.org.

 
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