Latest News

Greetings to all NSAC members from the President!
It is hard to believe that the harvest season is here for many of our members! It does not seem that long ago that we were all talking about the wet/dry, hot/cold weather than seemed to stay around...
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COSO Releases Updated Enterprise Risk Management Framework
The Committee of Sponsoring Organizations of the Treadway Commission released a long-awaited update Wednesday to its ERM Framework: Enterprise Risk Management–Integrating with Strategy and...
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3 Steps To Protecting Your Business From Workplace Fraud
Every few months, a major fraud investigation hits the news. According to a new report titled Keeping Business Clean: A CGMA Guide to Countering Fraud & Corruption by the Association of...
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Companies shouldn't rush to adopt new hedge accounting standard
The Financial Accounting Standards Board released its long-awaited hedge accounting standard this week, but companies may want to be careful about adopting it early, or else they could miss out on...
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Embezzlement by Employees
In the cult film "Office Space", workers at a technology company seek revenge for boring jobs and bad treatment by ripping off their employer via software that skims fractions of pennies with each...
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Financial Reporting By Cooperatives

  • Have you ever had a new issue arise that required special treatment or disclosure in your cooperative's financial statements and wished you knew how other cooperatives have handled such matters in their statements?
  • Have you ever wondered how the financial statement treatment or the footnote disclosure you "developed" compares with other cooperatives' treatment of similar matters?
  • Have you ever struggled with the writing of a footnote disclosure and wished you had access to others' solutions to comparable dilemmas so you wouldn't have to "reinvent the wheel?"

If any of these questions were true, then this may be the answer for you. The primary focus of “Financial Reporting by Cooperatives” relates to the uniqueness of financial statement disclosures by cooperatives, an area that is not well addressed by the body of accounting pronouncements. Of the few authoritative sources available to refer to for guidance in dealing with unique cooperative financial statement disclosure issues, this publication certainly ranks high! The information, extracted from the database of over 40 actual cooperative financial statements, has been sorted by financial statement classification. Each major section of the publication includes a discussion of the accounting principles relevant to that area of the financial statement. The discussion is followed by the examples of actual financial statement footnote disclosures on areas of the financial statements that include elements unique to cooperatives.

Financial Reporting by Cooperatives should prove to be an indispensable tool to every preparer of financial statements for cooperatives, to students of cooperative accounting and to anyone who has occasion to work with such statements. The publication is available free of charge to members by link only. Please click here. It is revised each year by members of NSAC’s Accounting & Auditing Committee.

The cost for a one-year subscription is $75 and for a three-year subscription is $225 for non-members.
Click here for an online order form
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