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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Join Michael Cheng for a 60-minute CLN and a plain English discussion about recent and pertinent technical accounting matters that may affect you as you close out 2020 and begin 2021 when it comes to financial statements and recently issued accounting standards and pronouncements from FASB. If time permits, upcoming FASB and PCC projects will be reviewed. Michael Cheng joined Frazier & Deeter in 2019 as the Partner who oversees the firm's ...
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Fraud is something that occurs in every business. During this 60-minute CLN, Hand in the Cookie Jar? participants will gain an understanding of fraud risks in their utility and how to design and implement controls to timely identify when someone has their hand in the cookie jar. These controls are essential, especially with many utilities changing to a more virtual control environment. This course will discuss fraud risks, control ...
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SAVE THE DATE! Atlantic Chapter Members, join us on February 18th from 6:00-7:00PM for a virtual game night! Details coming soon.
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Having a strong and healthy finance function is important to every effective organization. But there are many challenges that can weaken an organization's finance function at its core including turnover in key positions, too few internal controls, doubtful data, too many time-consuming manual processes, having your best thinking depend on complicated Excel schedules, and finding it impossible to get financial statements done on time. Do any of ...
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Introduction The pandemic has brought overall economic slowdown and changes in social patterns resulting from impacts due to the SARSCoV-2 virus (COVID-19). This is making it more difficult for electric cooperatives to project future revenue patterns, and challenging to forecast future financial outcomes. This article discusses trends in revenue forecasting for the electric utility industry, and offers some guidance in revenue projection and ...
The optional standard mileage rates for business use of a vehicle will decrease once again in 2021 after increasing significantly in 2019, the IRS announced in Notice 2021-02. For business use of a car, van, pickup truck, or panel truck, the rate for 2021 will be 56 cents per mile after decreasing to 57.5 cents per mile in 2020, down from 58 cents per mile in 2019. Taxpayers can use the optional standard mileage rates to calculate the ...
NSAC's quarterly technical journal, The Cooperative Accountant, often referred to as the TCA, is going digital! Members will receive both the digital and printed versions of the winter 2020 edition, and the digital TCA will arrive through email and Connect thereafter. Watch below as Nick Mueting, NSAC President, and Bill Miller, NSAC Immediate Past President, discuss the new found benefits of the digital TCA.
As we wrap up an unpredictable year, let’s explore the Financial Standards Accounting Board’s recent roundtable discussions, new guidance on lease implementation for public and nonpublic organizations, and what we can expect for non-public implementation next year. Public companies understand the new lease standard now that they have completed their implementations. For the most part, the guidance works as intended, and the standard ...