Top Stories in Accounting in 2014
If you thought the webinar had changed continuing professional education, wait until some of things talked about in the American Institute of CPAs’ “Future of Learning” report come about.
Boards complete redeliberations of the definition of a lease
The FASB and IASB (collectively, the Boards) decided against adding an additional requirement to their proposed definition of a lease
Substantiating Expenses: All or Nothing
Under Sec. 274(d), for certain expenses, taxpayers are required to be able to provide specific detailed information to substantiate the expenses. As the recent case of Garza, T.C. Memo. 2014-121, demonstrates, this is an all-or-nothing proposition
Ben Affleck Will Star as 'The Accountant''! What?
In what may prove to be either a casting coup or a disaster in the making, Ben Affleck is set to star in an action thriller entitled “The Accountant.”
No more extraordinary items: FASB simplifies GAAP
TA FASB initiative designed to simplify GAAP has yielded its first standard: The board is eliminating the concept of extraordinary items from GAAP.
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.