Accounting, tax, finance and business education uniquely tailored to cooperatives.

The National Society of Accountants for Cooperatives

The only professional organization dedicated to providing education, resources and connections to professionals exclusively involved in the financial management and planning of cooperatives.

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.

Events

Upcoming Events  |  CLN Workshops
NSAC Technical Exchanges
January 10 - 11, 2022

NSAC Technical Exchanges

This day-and-a half-day fly-in event will feature two technical-focused exchanges, and attendees can choose between the Tax+A&A Exchange or the CFO Exchange.  This is an intense program with two separate exchanges for those dedicated to staying current on everything tax, finance, and accounting related to cooperatives. This unique program won't involve a day of PowerPoint ...

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2022 Tax, Finance & Accounting Conference for Cooperatives
July 31 - August 3, 2022

2022 Tax, Finance & Accounting Conference for Cooperatives

Make sure you save the date for the 2022 Tax, Finance & Accounting Conference for Cooperatives! The conference is being held IN-PERSON in San Antonio from July 31-August 3, 2022. TFACC is the premier national conference for cooperative tax, finance and accounting professionals. TFACC is a can't miss event, as it is the only conference uniquely tailored to providing education, resources and connections to professionals involved in the ...

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Common Fraud Schemes Facing Small Businesses Today
December 7, 2021

Common Fraud Schemes Facing Small Businesses Today

With the pandemic challenging traditional business processes and procedures, companies and their management are having to adapt to more electronic processes and different forms of communication. Fraudsters are mirroring these adaptations with ways of getting business information and how they execute their fraud schemes. We’ll discuss the most relevant fraud schemes affecting small businesses in this new business environment.

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North Central Chapter Fall Meeting
December 9, 2021

North Central Chapter Fall Meeting

This event will enable participants to become more effective professionals working for and with cooperatives by providing a professional forum for the discussion of cooperative accounting, tax, and other business issues.

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Current Tax Developments
December 15, 2021

Current Tax Developments

Please save the date for this informative session about tax developments during the past year of particular interest to cooperatives.

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Happenings

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Meal Portion of Per Diem Allowance Can Be Treated as Attributed to a Restaurant

December 6, 2021

The 100% deduction allowable as a business expense in 2021 and 2022 for food or beverages provided by a restaurant applies to the meal portion of a per diem rate or allowance, the IRS clarified Tuesday in Notice 2021-63. Under Sec. 274(n)(1) and Regs. Sec. 1.274-12, a deduction of any expense for food or beverages generally is limited to 50% of the amount otherwise deductible (i.e., as an ordinary and necessary business expense that is not ...

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New FASB Standard Requires Businesses to Disclose Government Aid

December 1, 2021

A FASB standard issued will require businesses to disclose information in the notes to the financial statements about certain government assistance they receive. Previously, GAAP contained no specific, authoritative guidance for business entities on accounting for or disclosing government assistance they receive. The types of assistance the new standard requires to be disclosed include cash grants and grants of other assets. The ...

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FASB Declines to Extend Nonpublic Lease Accounting Effective Date

November 30, 2021

Private companies and not-for-profits will not see further relief from the effective date of FASB's new lease accounting standard after the board voted unanimously Wednesday to reject a request for a two-year extension that was submitted by the Pennsylvania Institute of CPAs (PICPA). The current effective date for nonpublic entities is for fiscal years beginning after Dec. 15, 2021, and interim periods within fiscal years beginning after Dec.

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5 Steps to Prevent Fraud

November 29, 2021

While no one wants to believe fraud is occurring at their organization or nonprofit, unfortunately, it can and does happen. Typically, fraud is a crime of opportunity, which means that putting preventative fraud measures in place can help you reduce fraud before it starts.  Here are five steps you can put in place no matter what size your organization is to decrease your risk of fraud. Remember, when you have formal reporting mechanisms in ...

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