Welcome to the NSAC Website!
What Is NSAC? The National Society of Accountants for Cooperatives(NSAC) is comprised of professionals actively involved with the financial management and planning of cooperative business. NSAC strives to provide accounting, tax and business education uniquely tailored to cooperatives, supports cooperatives in business interests, and offers networking and professional developement opportunities.
What Members Say about NSAC
I am retiring at the end of the month and I will be staying in NSAC as a retired member. “It's been a good 30 years of active membership. I met lots of good people and received lots of valuable information. My replacement has already joined NSAC”.
RP (Ron Peterson) Minnesota.
NSAC's group-live, educational teleconferences uniquely tailored for cooperatives
Upcoming CLN Workshop(s):
Pension Fiduciary Primer
May 12th, 2015
Chapter Leadership Seminar
May 14th, 2015
May 28th, 2015
June 2nd, 2015
Changes in Defined Benefit Plans
June 9th, 2015
SAVE THE DATE! August 2-5, 2015
More Details Soon
FASB to propose a one-year deferral of the new revenue standard
The FASB decided to propose a one-year deferral of the effective date for its new revenue standard for public and nonpublic entities reporting under US GAAP.
Boards agree to propose additional changes to revenue standard
FASB and the International Accounting Standards Board (IASB) voted to propose additional changes to the converged revenue recognition standard to address implementation concerns of financial statement preparers.
FASB plans two new proposals to simplify accounting
FASB took steps to simplify accounting in two areas when it voted to direct the board’s staff to prepare a pair of proposed Accounting Standards Updates.
New Lease Accounting May Favor IFRS Filers
When new lease accounting standards eventually take effect, companies reporting under the international rules are likely to look more profitable than those reporting under U.S. GAAP.
The IRS Has New Favorite People to Audit
If you’re scared of an audit by the IRS, there’s less to fear these days. New data show that budget cuts at the IRS mean the agency is investigating fewer wealthy taxpayers.
Change is coming: Accounting method changes under the tangible property regulations
The new tangible property regulations form a framework of rules for the capitalization of tangible property that affects the treatment of fixed asset additions and disposals