The National Society of Accountants for Cooperatives (NSAC) is comprised of professionals actively involved with the financial management and planning of cooperatives. The Society strives to provide accounting, tax, finance and business education uniquely tailored to cooperatives, supports cooperatives in business interests, and offers networking and professional development opportunities and connections.
The Tax, Finance & Accounting Conference for Cooperatives is the premier annual conference for those professionals working working in this space. The complete program and registration for the 2021 event will be available the first week of April 2021.
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This 60-minute session focuses on the improvements in the timeliness and efficiencies and will help attendees identify time saving and stress saving processes for month ending closings. The strategies and processes associated with month ending closings are vital routines that should be implemented and continually refined and improved within an organization. Participants will be able to take away several tips and time saving ideas from this ...
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May 05, 20212:00 PM ET / 1:00 PM CT / 12:00 PM MT / 11:00 AM PT In this 60-minute zoom, you'll discover the importance of strong risk governance in successfully and safely navigating today’s cooperative organizations. This requires good alignment and transparency between the board/trustees, management, and the monitoring disciplines of the organization. Sufficient connection and alignment must be maintained across governance, ...
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The Small Business Administration’s Paycheck Protection Program (PPP) has been an important source of support during the COVID-19 pandemic, but it has led to many implementation questions among cooperatives and the CPAs who serve them. This 60-minute zoom will feature a discussion on 2nd draw loans, loan forgiveness, and updates on the PPP from the perspective of the cooperative community, including patronage considerations. During this ...
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Due to the uncertainty surrounding COVID-19, including travel restrictions and caution for the safety and well-being of our attendees, the Atlantic Chapter 2021 Annual Meeting will be held in June as an all-virtual event. We look forward to delivering the same quality content and technical exchanges while ensuring health and safety. Details regarding the meeting and virtual platform will be coming soon. We will be back together in Charleston in ...
More InformationThe Financial Accounting Standards Board released an accounting standards update that gives private companies and nonprofits an accounting alternative to decrease the complexity of performing a goodwill triggering event evaluation. Under current U.S. GAAP, goodwill needs to be tested for impairment when a triggering event happens that indicates that it’s more likely than not that the fair value of the reporting unit is less than ...
The IRS released guidance explaining when the temporary 100% deduction for restaurant meals is available and when the 50% limitation on the deduction for food and beverages continues to apply for Sec. 274 purposes (Notice 2021-25). Under Sec. 274(n)(1), a deduction for any expense for food or beverages is generally limited to 50% of the amount that would otherwise be deductible. However, the Consolidated Appropriations Act, 2021, P.L. 116-260, ...
Change and uncertainty are a feature of our world alongside innovations in our fast-changing economy. Investments in new business models and intangible assets — such as brands, technology and customer relationships — are increasingly key to driving value creation as companies research new technologies, cultivate customer relationships, manage their workforce and more. But information related to these important assets is often limited ...
In addition to the serious public health threat it poses, the COVID-19 pandemic has affected the current and future financial performance of many entities, with its impact showing on both projections of future cash flows and estimated earnings. As a result, goodwill impairment has been an area of increased focus when it comes to financial reporting since the onset of the pandemic. FASB also has ongoing projects that look not only to broadly ...