NSAC Happenings and Latest News - Page 3
FASB ISSUES Accounting Standards Update 2025-02 LIABILITIES (Topic 405) Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122 - March 2025
Summary This Accounting Standards Update amends the GAAP Taxonomy (Codification of Standards) in accordance with SEC Staff Accounting Bulletin No. 122. The Section of the Codification that is amended is paragraph 405-10-S99-1 which relates to the topic Accounting for Obligations to Safeguard Crypto-Assets and Entity Holds for Its Platform Users. The entire paragraph is removed. The ASU, including replacement information, is available at ...
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The Cooperative Accountant Summer 2025
The Summer 2025 issue of The Cooperative Accountant (TCA) has been released! Focusing on cooperative-related issues, such as accounting and auditing, finance, cooperative management, legal and regulatory issues and taxation, this journal has become widely recognized as the industry standard. NSAC members, please log into Connect to view or download the latest issue.
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Key Financial Considerations for Electric Cooperatives Implementing Distributed Energy Resources (DER) Programs
Introduction As electric cooperatives evaluate the implementation of Distributed Energy Resources (DERs) Programs, finance professionals must carefully evaluate financial, regulatory, and operational impacts of any programs under consideration. A well-structured DER program for an electric cooperative aligns technology, infrastructure, financial models, policy, and consumer engagement to maximize grid reliability, cost-effectiveness, and member ...
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FASB Issues Standard That Clarifies Guidance for Identifying the Accounting Acquirer in a Business Combination
The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update (ASU) that improves the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification® Topic 805, Business Combinations. The ASU is based on a recommendation of the Emerging Issues Task Force (EITF). “The new ASU is the first recommendation from the recently reconstituted EITF to be issued ...
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In Tribute: Remembering Two Members of the NSAC Family
The National Society of Accountants for Cooperatives (NSAC) is deeply saddened to share the passing of two cherished members of our community. They will be profoundly missed for their presence, dedication, and the many ways they enriched our professional family. We extend our heartfelt condolences to their families, friends, and colleagues during this difficult time. Richard French The NSAC community has lost a cherished friend, member, and ...
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