Latest News

Operating vs. Finance Leases: The Impact of the New Standard
The clock is ticking on the countdown to the implementation of the new lease accounting standard for private companies. According to reports from the Securities and Exchange Commission and the U.S....
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Hidden in Plain Sight: Accounting for Embedded Leases
FASB’s new lease accounting standard is having a significant effect on a broad range of balance sheets for all types of entities, with some companies reporting financial obligations of billions of...
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Unclaimed Property Audit Fallacies and Myths
Despite the strong economy and their fuller coffers, states across the nation continue to take an aggressive approach in administering their unclaimed property statutes. Illinois, for example, has...
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IRS Finalizes Rules for 100% Depreciation Deduction
The Internal Revenue Service and the Treasury Department released the final regulations for the new 100 percent additional first year depreciation deduction included as part of the Tax Cuts and Jobs...
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IRS Updates Per Diem Rates for Lodging and Meal Expenses When Traveling
The Internal Revenue Service issued new per diem rates for business travelers to use for lodging, meals and incidental expenses, effective Oct. 1, 2019. Notice 2019-55 provides the annual update to...
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Mission Statement and Long Range Goals

Mission Statement
Serve 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.
  • Participating in standard-setting and implementation processes enabling members to effectively apply those accounting standards.

Goals

  • Goal #1 - Providing a superior membership experience through increased use of technology.
  • Goal #2 - Rededicating resources nationally and with the chapters, in support of recruiting and retaining members.
  • Goal #3 - Strengthening the NSAC brand by focused outreach to those new to the profession, industry and cooperatives.
  • Goal #4 - Developing increased opportunities for networking and professional connections within membership.