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CliftonLarsonAllen Acquires Illinois Agricultural Auditing Association

Senators Introduce Bill to Reinstate Biodiesel Tax Break
Senators Maria Cantwell, D-Wash., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation to reinstate a tax incentive for the production of domestic biodiesel fuel.

To the Point: FASB and IASB Boards back away from some key aspects of leases proposal 
In joint redeliberations, the IASB supported a single on-balance sheet model for lessee accounting while the FASB supported a dual on-balance sheet model.

FASB responds to post-implementation review report on fair value 
The FASB said it sees no need to undertake a comprehensive review of Statement No. 157, Fair Value Measurements...

FASB Proposes Disclosure Framework
The Financial Accounting Standards Board has issued a draft version of its long-awaited Disclosure Framework...

Accounting Fraud on the Rise at U.S. Companies
More than half of U.S. organizations that experienced fraud in the past two years reported an increase in the number of occurrences

Treasury and IRS Amend Final FATCA Regulations
The Treasury Department and the Internal Revenue Service released a final package of regulations to implement the Foreign Account Tax Compliance Act

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.