Latest News

Recently the Capitol Chapter held their annual meeting in Gettysburg Pennsylvania. In honor of the historic battle that unfolded on those grounds, Dave Antoni and Barry Groebel engaged in a display of recognition for the historic setting for their annual meeting.

FASB Moves to Simplify Business Combination Accounting
FASB issued new guidance Friday designed to simplify accounting for adjustments made to provisional amounts recognized in a business combination.

FASB Addresses Issues Raised During Drafting of the New Leases Standard
The FASB made several decisions on issues that arose as its staff was drafting the final leases standard it plans to issue in late 2015 or early 2016.

FASB Proposes Narrow Changes to Revenue Recognition Standard
FASB proposed changes that are designed to improve guidance on collectability, noncash consideration, and completed contracts at transition in the new revenue recognition standard.

How Should Materiality Be Applied? FASB Weighs In
FASB issued two exposure drafts that address the use of materiality—an attempt to help organizations eliminate unnecessary disclosures in financial statements.

FIN 48 Deterred Earnings Management
The Financial Accounting Standards Board’s 2007 standard on accounting for uncertainty in income taxes, FASB Interpretation No. 48, or FIN 48, has helped discourage companies from using tax reserves to manage their quarterly earnings reports, according to a new study.

Online Banking Fraud: A Devastating New Threat to Your Business
The biggest risk to your manufacturing company’s financial security does not come from domestic regulations and taxes, or even from a highly competitive China.

NSAC Publications

NSAC provides a variety of training sessions, publications, and research tools to enhance the professional competence of its members and improve the level of service they can offer cooperatives.

  • The Cooperative Accountant is a quarterly technical journal featuring timely and useful information on cooperative tax, accounting, finance, and economic issues.

  • Financial Reporting by Cooperatives explains and offers examples of financial statement entries unique to cooperatives.

  • The Electronic Tax Library provides easy access to a searchable data base of IRS administrative rules and rulings and court cases concerning tax treatment of cooperatives. Available in the Members section of this website.

  • Welcome to Cooperatives is a basic explanation of how cooperatives are organized and operated, including equity management and tax treatment. It is must reading for new employees without a background in cooperation.

  • Membership Handbook provides an overview of the many publications, benefits, programs and structure of NSAC. This guide includes information on how to order extra items and how to find out more about all benefits available to members.
    View/Download Handbook