“My membership in NSAC opens a vast source of written technical aids regarding legal tax and accounting aspects of cooperatives.”
Associate, law firm working with cooperatives
“This is where cooperative professionals from both large and small cooperatives meet to exchange ideas, information, and resolutions to the unique challenges they face... on a continual basis”
Partner, major accounting firm
“The local and national meetings give me a chance to update my skills and network with other professionals with the same issues I face.”
Cooperative Development Specialist
“I have been reading and using NSAC's quarterly technical journal, The Cooperative Accountant, for over 25 years. I habe been writing articles for the past 10 years. The Cooperative Accountant is oftne the only source for much needed cooperative accounting information. It justifies the modest membership fee all by itself.”
“NSAC is the only organization representing the needs, interests and concerns of cooperative finance professionals.”
Cooperative Chief Financial Officer
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.
Education is perhaps the most valuable service a professional association can offer its members. NSAC provides quality education and educational materials to its membership and has set a goal to build on that service. Educational opportunities available for members include:
- Tax and Accounting Conference for Cooperatives (TACC) is an annual national conference featuring noted presenters and numerous breakout sessions on developments in cooperative tax, accounting, finance, and management. TACC attendees can earn 20 or more Continuing Professional Education (CPE) credits• Regional Chapter meetings offer 8-12 hours of CPE-accredited discussion on the latest developments of interest to professional advisers to co-ops.
- Basic and Advanced Cooperative Accounting Seminars offer CPE-accredited training in the core concepts unique to working for or with cooperatives, such as equity management, tax planning, and risk management.
- Cooperative Learning Network (CLN) webinars provide inexpensive, easy access to CPE-accredited reports by experts on a variety of issues important to cooperative advisers. No travel expenses, no time away from the office – just watch your computer and listen over the phone in your office or conference room.
- Chapter Annual Meetings and Educational Programs provide technical programming during their annual meetings and fall technical programs. Each of NSAC’s 10 Chapters feature a variety of cooperative-related topics.. These meetings usually provide 8-16 hours of CPEs.
Publications & Research
- 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.
- 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.
For many years NSAC limited its activity to reporting on developments of importance to its members. However, as we move into the 21st Century, the leadership recognized a need to be ready to work with policy makers inside the accounting community to make sure the rapid evolution of accounting standards recognized the unique needs of cooperatives.
- FASB. Several years ago, NSAC began inviting a representative from the Financial Accounting Standards Board (FASB) to address TACC. This has opened direct contacts with FASB staff and led to invitations from FASB to NSAC to send provide comments on FASB proposals to change accounting standards and to participate in meetings to discuss those proposals. As a result of NSAC’s involvement, cooperative concerns are now regularly considered when FASB reviews rules that impact co-ops.
- IFAS. In recent years, much discussion has taken place about the adoption in the United States of International Financial Accounting Standards. Building on our experience with FASB, NSAC has become the industry leader in educating people who are considering this move about how it would impact co-ops and suggesting modifications that would remove any impediments to doing business on a cooperative basis.
NSAC strives to make sure the members have access to the latest news and technical information required to do their jobs.
- Conferences. Our nationals and regional conferences offer more than access to quality presentations. Participants have ample opportunities to network with other cooperative advisers who they can contact when that person may be able to help resolve an issue they are resolving.
- Electronic Membership Directory. NSAC members have access to an electronic data base where they can locate contact information on other members on the basis of name, firm, location, and professional specialty. This allows for easy identification of persons who might help with an issue.
- Electronic Reports to Members. The NSAC National Office provides regular updates through E-Counters, our electronic member newsletter, and special electronic reports on upcoming events and current developments in technical areas important to the members.
- Social Media. NSAC has established a presence on Facebook and other social media outlets to reach out to members and others who are using the latest communication platforms.
NSAC considers developing leadership skills of the members a key to keeping NSAC strong and improving the effectiveness of those members in their professional and personal lives. While becoming a national director or officer is an important leadership role, NSAC has several other activities that prepare members for those and other leadership roles in their lives.
- National Committees. Much of the activity of NSAC is planned and handled by its national standing committees and their sub-committees. NSAC members are encouraged to join one or more of these committees and actively participate in the programs they prepare and present.
- Chapter Directors, Officers, and Program Leaders. It takes dedicated people willing to get something done to keep the Chapters functioning in a manner that provides value to the membership. Members are always in demand to serve as Chapter directors and officers and to manage program planning, member recruitment, new member mentoring, and other activities that produce strong chapters and, in turn, a strong national organization.