FASB issues new financial instruments recognition and measurement standard
FASB issued a new standard designed to improve the recognition and measurement of financial instruments through targeted changes to existing GAAP.
IASB issues leases standard; FASB to follow
The International Accounting Standards Board (IASB) issued a much-anticipated new accounting standard.
Controversial charitable donation rules withdrawn
The IRS announced that it is withdrawing proposed regulations released last September that would have allowed charities to file information returns with the IRS and donors.
Dealing with IRS Tax Notices
Receiving a tax notice from the IRS or a state department of revenue may not be what you were hoping for in the day’s mail. But in many cases the notice can be resolved both quickly and painlessly.
The Tax Extenders in Detail
The Protecting Americans from Tax Hikes Act of 2015 extends a number of important tax breaks, and makes many of them permanent.
The Writing Is on the Wall
Accounting systems are moving to the cloud.
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.