Mission Statement
NSAC serves cooperatives by providing accounting, tax and business education uniquely tailored to professionals working for and with cooperatives; providing networking and professional development opportunities for members, prospective members and others supporting the cooperative sector; and participating in standard-setting and implementation processes enabling members to effectively apply those accounting standards.
Goals
- Providing a superior membership experience through continuing EDUCATION on timely topics, issues and relevant information.
- Rededicating an expanded list of RESOURCES nationally and throughout the chapters, in support of recruiting and retaining members.
- Developing increased opportunities for networking and professional CONNECTIONS within the membership and with focused outreach to those new to the profession, throughout the industry and within the experienced cooperative arena.
Upcoming Events
2025 Technical Exchange
Unlike any other, the 2025 Technical Exchange is here to immerse you in an extraordinary one-and-a-half-day fly-in event. Join us on January 27-28, 2025, and prepare to be part of something exceptional. Collaborate with top experts and peers within a small group setting. This facilitates intimate conversations centered around the challenges specific to your cooperative or the cooperatives you're engaged with. Walk away with actionable insights and solutions tailored to your unique context.
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The Cooperative Compass
NSAC is excited to announce The Cooperative COMPASS - pointing accounting, tax, and finance professionals in the co-op industry towards an extraordinary educational and networking experience - taking place May 5-6, 2025 in vibrant Kansas City in cooperation with NSAC’s Mid-West Chapter. This unique conference is tailored specifically for professionals dedicated to the financial management and strategic planning of cooperatives. COMPASS ...
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NSAC 2024 North Central Fall Meeting
Save the date for the NSAC North Central Fall Meeting on Thursday, November 21 at Pinstripes in Edina, MN! Join us for 6 hours of CPE, including 1.5 hours of Ethics, followed by a social hour and indoor bocce ball fun. It’s the perfect blend of relevant education, networking, and friendly competition—don’t miss it!
More InformationRecent Happenings
ROI for Electric Cooperatives
Investopedia defines ROI as “a ratio that measures the profitability of an investment by comparing the gain or loss to its cost” (Beattie, 2024, para. 1). Beattie goes on to point out that ROI is calculated by subtracting the initial cost of the investment from its final value, then dividing this new number by the cost of the investment, and finally, multiplying it by 100. This value is then represented as a percentage of ROI. ROI ...
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Internal Revenue Service Data Book 2023 Publication 55-B (April 2024
As in the past, this year’s IRS Data Book provides some information as to tax returns (Form 1120-C) filed by Subchapter T cooperatives. The Data Book aggregates Form 1120-C returns with other Form 1120 returns in the information it provides regarding the number of returns filed for fiscal years 2022 and 2023. So, it does not reveal the number of cooperative returns filed in those years in tables showing returns filed. However, it does ...
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FASB ISSUES Proposed Accounting Standards Update (exposure draft) DERIVATIVES AND HEDGING (Topic 815) and REVENUE FROM CONTRACTS WITH CUSTOMERS (Topic 606)
The Board is issuing the amendments in this proposed Update to address stakeholders’ concerns about (1) the application of derivative accounting to contracts with features based on the operations or activities of one of the parties to the contract and (2) the diversity in accounting for a share-based payment from a customer that is consideration for the transfer of goods or services. The proposed amendments are expected to (a) reduce the ...
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