Names in the News
CliftonLarsonAllen Acquires Illinois Agricultural Auditing Association
Senators Introduce Bill to Reinstate Biodiesel Tax Break
Senators Maria Cantwell, D-Wash., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation to reinstate a tax incentive for the production of domestic biodiesel fuel.
To the Point: FASB and IASB Boards back away from some key aspects of leases proposal
In joint redeliberations, the IASB supported a single on-balance sheet model for lessee accounting while the FASB supported a dual on-balance sheet model.
FASB responds to post-implementation review report on fair value
The FASB said it sees no need to undertake a comprehensive review of Statement No. 157, Fair Value Measurements...
FASB Proposes Disclosure Framework
The Financial Accounting Standards Board has issued a draft version of its long-awaited Disclosure Framework...
Accounting Fraud on the Rise at U.S. Companies
More than half of U.S. organizations that experienced fraud in the past two years reported an increase in the number of occurrences
Treasury and IRS Amend Final FATCA Regulations
The Treasury Department and the Internal Revenue Service released a final package of regulations to implement the Foreign Account Tax Compliance Act
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
- 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
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