Latest News

Past NSAC President named to top Government Post
Kenneth Spearman was NSAC President in 2002‐2003 and recent decisions from the Whitehouse have helped strengthen the mystique of being an NSAC Past President.
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IRS Clarifies Procedures for Changing Accounting Method
The Internal Revenue Service is clarifying some of its procedures for changing a method of accounting.
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IRS Weighs Revenue Recognition Standards' Impact on Tax Accounting
The Internal Revenue Service has issued a notice asking for comments on the effect of the new revenue recognition standards on taxpayers’ methods of tax accounting.
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FASB Proposes to Simplify Accounting for Measurement-Period Adjustments
The Financial Accounting Standards Board has released a proposed accounting standards update to simplify the accounting for measurement-period adjustments in business combinations.
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What to Consider Before Monitoring Employee Smartphones
The prevalence of cell phones in today’s society, especially smartphones, presents a myriad of operational and legal challenges for employers. Just ask Tom Brady.
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IRS Needs to Improve Internal Controls
The Internal Revenue Service has new deficiencies in its internal controls over financial reporting, according to a new report from the Government Accountability Office.
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Regulators Say Firms Need 'Reasonable' Data Safeguards
If your firm isn't taking reasonable precautions to protect client data, you could face enforcement action. 
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What a Robust Compliance Program Looks Like
During a keynote speech today at the Compliance Week 2015 conference, Leslie Caldwell provided some insight on what a robust compliance function looks like.
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About NSAC

The National Society of Accountants for Cooperatives (NSAC) is a professional society, formed in 1936, comprised of approximately 2,000 individual members actively involved with the financial management and planning of cooperative business. NSAC members are either employed by a cooperative or provide professional services for cooperatives.

Serving Individual members and their respective organizations

  • Employees of cooperatives who are accountants, bookkeepers and office managers; controllers and tax directors; internal auditors and in-house legal staff, as well as CFOs and other finance professionals
  • Professionals advising and providing services to cooperatives such as independent auditors and CPAs, tax advisors and preparers, cooperative bank professionals, professionals working for law firms, government employees advising cooperatives and cooperative association employees

Providing

  • Continuing Educational Programming
  • Continuing Professional Education (CPE) credits Resources on Financial Reporting Programs for both Small and Large Cooperatives
  • A Directory of Other Cooperative Professionals
  • Networking Opportunities
  • A Quarterly Technical Journal

History
In 1935, auditors for the Northern States Cooperative League began holding meetings. Due to the success of these gatherings, they decided to form a national organization. NSAC Milestones:

1943 – Formally structures as an independent, nonprofit corporation
1948 – Begins publishing The Cooperative Accountant
1952 – Publishes first cooperative accounting report
1980 – Hires first professional manager1998 – Organizes nationwide Electric Cooperative Chapter
2001 – Begins actively participating in FASB projects that impact co-ops
2008 – Becomes industry leader in international accounting standards development
2011 – Celebrates 75th Anniversary at Annual Meeting in Orlando, FL