Latest News

Companies not ready to automate fixed assets accounting
Relatively few companies are using dedicated fixed assets accounting software, according to a new survey, and are instead relying on homegrown spreadsheets and databases.  The survey, by Bloomberg...
Read More >>

Proposal Would Simplify How Entities Determine the Balance Sheet Classification of Debt
The FASB proposed replacing today’s rules-based guidance for determining whether to classify debt as current or noncurrent on the balance sheet with a principles-based approach. Debt would be...
Read More >>

FASB Clarifies Business Definition
The Financial Accounting Standards Board has released guidance aimed at clarifying the official definition of a “business” for purposes of the accounting rules.  The new accounting...
Read More >>

FASB addresses debt classification, inventory disclosures
In separate proposals issued recently, FASB addressed balance sheet classification of debt and the disclosure requirements for inventory under the board’s Disclosure Framework.  The proposed...
Read More >>

IRS Adjusts Employer-Provided Vehicle Maximums for 2017
The Internal Revenue Service has issued a notice describing the maximum vehicle values for 2017 that taxpayers need for determining the value of personal use of employer-provided vehicles under the...
Read More >>

Mission Statement and Long Range Goals

Mission Statement
To be the acknowledged leader in:
• providing accounting, tax and business education uniquely tailored to cooperatives;
• providing networking and professional development opportunities for our membership; and
• supporting cooperative business interests in standard setting processes enabling our membership to effectively serve cooperatives

Goals
Goal #1 Identify and respond to relevant accounting and tax issues on a timely basis
Goal #2 Identify opportunities for collaboration with other cooperative groups
Goal #3 Generate a positive operating income.
Goal #4 A net gain in membership and achieving at least a 90% renewal rate.
Goal #5 Provide support and guidance to enhance chapter effectiveness.
Goal #6 Enhance and expand educational programs