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The Rise of Cybercrime in the Accounting Profession Continues
The July 15 tax filing deadline is finally behind you. Now is the perfect time to address the growing number of cyberattacks still taking place in the accounting industry.  Many accounting...
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IRS Says Companies Are Responsible for Deferred Payroll Taxes
The Internal Revenue Service said companies will be responsible for collecting and paying back any deferred payroll taxes under a directive by President Donald Trump aimed at helping workers while...
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Guidance Issued on Payroll Tax Deferral
The IRS issued much-anticipated guidance on the payroll tax deferral that was ordered by President Donald Trump in a presidential memorandum on Aug. 8 (Notice 2020-65). The notice allows employers to...
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Will PPP Fraud Turn into the Next Wave of 'Liar's Loans'?
In April, Andrew Marnell of California applied for millions of dollars of loans in federal assistance through the Paycheck Protection Program. Based on his applications, Marnell received...
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IRS Issues More Bonus Depreciation Rules
The IRS issued final regulations (T.D. 9916) providing guidance on additional first-year (bonus) depreciation under Sec. 168(k), which was amended by the law known as the Tax Cuts and Jobs Act, P.L....
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About NSAC

The National Society of Accountants for Cooperatives (NSAC) is a professional society, formed in 1936, comprised of approximately 1.500 individual members actively involved with the financial management and planning of cooperative business. NSAC members are either employed by a cooperative or provide professional services for cooperatives.

Serving Individual members and their respective organizations

  • Employees of cooperatives who are accountants, bookkeepers and office managers; controllers and tax directors; internal auditors and in-house legal staff, as well as CFOs and other finance professionals
  • Professionals advising and providing services to cooperatives such as independent auditors and CPAs, tax advisors and preparers, cooperative bank professionals, professionals working for law firms, government employees advising cooperatives and cooperative association employees

Providing

  • Continuing Educational Programming
  • Continuing Professional Education (CPE) credits Resources on Financial Reporting Programs for both Small and Large Cooperatives
  • A Directory of Other Cooperative Professionals
  • Networking Opportunities
  • A Quarterly Technical Journal

History
In 1935, auditors for the Northern States Cooperative League began holding meetings. Due to the success of these gatherings, they decided to form a national organization. NSAC Milestones:

1943 – Formally structures as an independent, nonprofit corporation
1948 – Begins publishing The Cooperative Accountant
1952 – Publishes first cooperative accounting report
1980 – Hires first professional manager1998 – Organizes nationwide Electric Cooperative Chapter
2001 – Begins actively participating in FASB projects that impact co-ops
2008 – Becomes industry leader in international accounting standards development
2011 – Celebrates 75th Anniversary at Annual Meeting in Orlando, FL