Latest News

Five Things to Consider Under the New Lease Accounting Standards
The Financial Accounting Standards Board (FASB) released the long-awaited lease accounting standard on Feb. 25. The first exposure draft on the topic was originally released in August 2010 and has...

The Raw Nerve of Materiality
FASB’s plan to use only the U.S. Supreme Court’s definition of materiality draws fire. Last year, when the Financial Accounting Standards Board first proposed jettisoning existing...

New Product or Different Presentation?
Courts and the IRS differ over a key qualification for the domestic production activities deduction. Since its inception, the Sec. 199 domestic production activities deduction (DPAD) has caused...

FASB Proposes to Streamline Goodwill Impairment Tests
The Financial Accounting Standards Board is proposing to simplify the test for goodwill impairment for public companies and nonprofits similar to recent accommodations it made for private...

FASB Makes Additional Revenue Recognition Clarifications
FASB issued a third round of clarifications to its revenue recognition standard recently, focusing on narrow-scope changes and practical expedients.  In coordination with the International...

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