What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Who presents the information for one of these courses?
Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Delivery Method: Group-Live.

CLN Policies
Refunds for CLNs are not provided. Member registrants, if unable to participate, will be provided with a link to the PODCast. Note PODCasts are not eligible for CPE credit.

For more information regarding refund, complaint and/or CLN cancellation policies, please contact our offices at (937) 222-6707 or info@nsacoop.org.

What does my registration include?
Your registration includes long-distance charges for the audio portion and log-in to the video presentation. All handouts and presentation files are downloadable and may be printed out or saved to the participant's computer once they are logged in to the course meeting room. Sessions include one Certificate of Attendance. Certificates for additional participants are $10.00 each.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A computer, device and/or telephone are all the equipment you need.

CLNs are ideal for multiple attendees. Registrants may use a monitor and speakers/speakerphone and invite others to participate - at no extra cost to you. Additional attendees seeking CPE credit for viewing the session will incur a $10 fee per certificate request.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.

For more information contact the National Office at 937-222-6707 or email to: info@nsacoop.org

Cooperative Learning Network

Lease Accounting Project Update
Date: Tuesday, April 29, 2014
Time: 12:00 PM ET / 11:00 AM CT / 10:00 AM MT / 09:00 AM PT [Prevailing Time]
Presenter(s): Phil Miller, VA Cooperative Council
Objective: This 1 hour CLN will delve into that project and will discuss where Lease Accounting may be headed. We will discuss reasons for the project, the (huge) scope of the related issues, a chronology of the project, a closer look at current authority, and the recent Exposure Drafts coming out of the project.
Field of Study: Accounting
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group-Live

No advanced preparation or prerequisites are required for this course.

Course Description
Leasing is an important activity for many organizations—whether a public or private company, or a not-for-profit organization. It is a means of gaining access to assets, obtaining financing, and reducing an organization’s exposure to the risks of asset ownership. Many organizations lease assets such as real estate, airplanes, trucks, ships, and construction and manufacturing equipment. Because of the prevalence of leasing, it is important for users of financial statements to have a complete and understandable picture of an organization’s leasing activities.

The existing accounting models for leases require lessees and lessors to classify their leases as either capital leases or operating leases and to account for those leases differently. Those models have been criticized for failing to meet the needs of users of financial statements because they do not always provide a faithful representation of leasing transactions.

As a result, there has been a widespread request from users of financial statements and other stakeholders to change the accounting guidance so that lessees would be required to recognize assets and liabilities arising from leases. This request has been further highlighted due to efforts of the FASB and IASB to converge to an International set of accounting standards, resulting in a joint project on Lease Accounting.

This one hour CLN will delve into that project and will discuss where Lease Accounting may be headed. We will discuss reasons for the project, the (huge) scope of the related issues, a chronology of the project, a closer look at current authority, and the recent Exposure Drafts coming out of the project.

Presenter Bio(s)
Philip W. Miller is the Executive Secretary and chief executive officer for the Virginia Cooperative Council and the Virginia Foundation for Cooperation, both headquartered in Richmond, VA. In 2009 he retired as Vice President & Controller for Southern States Cooperative in Richmond, Virginia, after a thirty-six year career. While at Southern States, he served as an Internal Auditor, Senior Auditor, Assistant Manager of Internal Audit, Manager of Corporate Accounting and Assistant Controller before being promoted to Controller in 2000. Prior to his joining Southern States, Phil worked for Walden Inventory Services. Prior to that, he served for two years in the United States Army as a member of the President’s Honor Guard in Ft. Meyer, Virginia. He was born in Nevada and grew up on a farm in southern Indiana.

Phil received his BA in Economics from Berea College in 1968 and completed post graduate studies in Accounting at Virginia Commonwealth University in 1978. He is a retired licensed CPA in Virginia and former member of the AICPA and the Virginia Society of CPAs. He is a former national director for the National Society of Accountants for Cooperatives (NSAC), and served as national president of NSAC in 2001-2002. He serves as an editor and writer for NSAC’s national magazine, the Cooperative Accountant.

A PODCast of this workshop is now availble. Click here to order/view.

Additional Information

For more information regarding this series or administrative policies such as complaint and refund, please contact the NSAC National offices, 136 S. Keowee St., Dayton, OH 45402, 937-222-6707, email: info@nsacoop.org

The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org