The National Society of Accountants for Cooperatives (NSAC) serves individual members and their respective organizations. Employees of cooperatives such as CFOs, controllers, tax directors/managers, accountants, bookkeepers, office managers, internal auditors, in-house legal staff, and other financial professionals are included as members. Professional service providers advising cooperatives such as CPAs, attorneys, banking professionals, government employees advising cooperatives and cooperative association employees are amongst members as well.
The organization provides professionals with education, resources, and connections needed to stay actively involved and on the cutting edge when it comes to the financial management and planning of cooperative business.
In 1935, auditors for the Northern States Cooperative League began holding regular meetings and discussing the need for collaboration and a more formalized organization. Out of these meetings, the National Society of Accountants for Cooperatives was formed:
1943 – Formally structures as an independent, nonprofit corporation
1948 – Begins publishing The Cooperative Accountant
1952 – Publishes first cooperative accounting report
1980 – Hires first professional manager
1998 – 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
2015 – Partners with the NRECA to bring the profession the premier tax, finance and accounting conference for cooperatives
2020 – Continues efforts to bring more virtual opportunities to professionals globally
Upcoming Events
Risk Assessment: More Than Insurance
Effective risk assessment goes far beyond securing insurance—it’s about understanding and managing the broad spectrum of business risks that impact your cooperative's success. This session, designed for cooperative board members, takes a high-level look at key business risks, including interest rate fluctuations, industry-specific challenges, and regulatory policies. Explore unique risk factors such as commodity market volatility ...
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Risk Management: Understanding Insurance
When it comes to addressing business risk, insurance is often one of the first areas turned to help offset that balance sheet exposure. However, the type and scope of insurance products are wide and varied. Likewise, understanding what needs to be considered when setting limits equally key in the risk transfer process.Come join our expert and learn not only about relevant insurance products available, but also some key areas to consider when ...
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Think Like a Hacker: Cybersecurity Update
Roman will walk through a plethora of necessary components of an accounting teams security planning including the latest information breach statistics and the specifics of how to minimize your organization’s greatest exposure: YOUR PERSONNEL. Security is consistently listed as one of the AICPA’s Top Technology concerns, but few organizations take it seriously until they have been impacted by a breach. Roman will walk through a variety of solutions to protect your cooperative or firm including updates on the latest IRS “legal” requirements. He will also apprise attendees on the latest threats and share security resources to minimize exposure and educate personnel.
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