Latest News

FASB changes presentation of defined benefit costs
FASB issued an accounting standard that is designed to increase the transparency and usefulness of information about defined benefit costs for pension plans and other post-retirement benefit plans...

The ROI of Revenue Automation in a Post-ASC 606 World
The new revenue recognition standards issued jointly by the Financial Accounting Standards Board and the International Accounting Standards Board have been a long time in the making, and merging U.S....

FASB Clarifies Scope of Asset Derecognition Guidance
FASB issued a standard that clarifies the scope of its asset derecognition guidance and adds accounting guidance for partial sales of nonfinancial assets. The guidance is included in Accounting...

Nonqualified Patronage Distributions Provide Alternative for Coops
Cooperatives distribute member-based income to patrons in the form of patronage dividends. Historically, these took the form of qualified patronage dividends with a portion paid in cash and the rest...

IRS Warns W-2 Phishing Scam Is Spreading Wider
The Internal Revenue Service is cautioning a variety of organizations that the W-2 phishing email scam is now spreading to more organizations beyond corporate America, with schools, restaurants,...

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

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