The straight line

By definition, an involuntary conversion is a mandatory liquidation of assets (such as a loss due to fire, wind, flooding, or tornado). The lost property is normally replaced by another asset, such as cash from insurance proceeds. According to generally accepted accounting principles (GAAP), the difference between the value of the asset lost (property) and the value of the asset received (cash) is recognized in financial statements as a gain or loss. An involuntary conversion, and the resulting gain or loss, is considered to have occurred even if an entity reinvests the monetary assets with non monetary replacement assets.

By: Emily Gardiner, Marketing Manager  |  email           This past April, one of our firms Senior Accountants, Blake Miller, passed his Certified Fraud Examiners (CFE) test. Blake is a CPA who works out of our Des Moines office and has been with the firm since 2011. The CFE credentials denote an...

Because of this we have seen a polarizing affect to the format of the meetings...It is held really as a formality; having conducted the board elections by mail ballots prior to the meeting. There are still a large number though, that hold a meeting in the “cooperative spirit”, providing a meal and discussing past operations and future plans.

As we start into 2014, it looks like the current climate is one where we are going to start to see merger conversations ramp up. There appears to be several reasons why these mergers are happening (or why discussions are ensuing). Amongst them are:

In honor of our 50th year in business, GT would like to reflect on the past and the client relationships we have been fortunate to have created. In this article we would like to place a spotlight on two of the longest standing managers we have had the pleasure of working with; Brad Davis of Gold-Eagle Cooperative in Goldfield, Iowa and Michael Whittie of Federal Employees Credit Union in Des Moines, Iowa.

The Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act proposes to extend several individual, business and energy incentive for up to two years. Those incentives include: