Latest News

NSAC supported the International Summit for Cooperatives in Quebec.

IRS Adjusts Tax Rate and Deduction Levels for 2015
IRS announced the annual inflation adjustments for tax year 2015 for more than 40 tax provisions...

Changes Coming Next Year in W-2 and 1099 Forms
The Internal Revenue Service is making changes in W-2 and 1099 forms and reporting requirements.

FASB Studies Possible Deferral for Revenue Recognition
The Financial Accounting Standards Board plans to consider in early 2015 whether to give companies more time to adopt the massive new standard on revenue recognition.    

Key Differences Between New Private Company and GAAP Reporting Standards
FRF for SMEs provides an alternative to U.S. GAAP for private companies.

Reducing unnecessary complexity remains a key focus of FASB
Taking unnecessary cost and complexity out of the U.S. financial reporting system has been a primary objective for Russell Golden since he became FASB’s chairman in July 2013.

Global cyber-attacks up 48% in 2014
It should be no surprise amid the constant barrage of headlines about cyber-security incidents that the number and cost of breaches is on the rise.

Cyber-security: How big is risk to small businesses?
Although large companies tend to make the biggest headlines when they are hit by data breaches, it’s a mistake to assume that hackers don’t target small businesses.

Ethical performance moves up on the corporate agenda 
Businesses are placing increasing emphasis on ethics and compliance, and the area is set to gain further importance in the near future.

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.