Revenue Recognition Disclosure Requirements: A Challenge That Can't Wait
FASB's revenue recognition standard includes complex disclosure requirements that will take effect sooner than companies think. As companies scramble to implement the FASB's revenue recognition...
IRS Enforcement Activities Dropped in 2016
The IRS reported several large drops in its enforcement activities in fiscal year 2016, including a 16% drop in audits, a 40% drop in levies, and a 9% drop in liens compared to the prior year. These...
Rules Proposed for Accounting Method Changes to Reflect FASB Revenue Recognition Standards
The IRS is asking for comments on proposed procedures for requesting consent to make accounting method changes to reflect FASB's new revenue recognition standards (Notice 2017-17). The proposed...
Proposal on Inventory Disclosures
The FASB proposed requiring all entities to make additional disclosures regarding changes in inventory that are outside the normal purchase, manufacture or sale of inventory and the composition of...
Reminder About Setting Effective Tax Rates
With companies once again setting their annual effective tax rates, we'd like to remind you of some basic principles. The tax provision for the year is the same whether a company prepares only annual...
Mission Statement and Long Range Goals
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