NSAC Happenings and Latest News - Page 38
Expenses Paid with 2020 PPP Loans Can Be Deducted on 2021 Tax Returns
The IRS announced a safe harbor for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible expenses because they relied on guidance issued before the enactment of the Consolidated Appropriations Act, 2021 (CAA), P.L. 116-260, in December 2020.
Read MoreCooperatives and Covid: Managing for Safety
“Three-quarters of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships,” writes Fred Reichheld, Bain & Company, quoting from a study of the AICPA (Reichheld, 2012, p.1). The expansion of performance measures beyond the traditional financial accounting measures was accelerated by the landmark Harvard Business Review article, The ...
Read MoreBest Practices: 6 Strategies for Leading Through Uncertainty
If there was ever any doubt about the importance of a leader’s ability to navigate change, uncertainty, and disruption, the emergence of the global pandemic in 2020 made this necessity abundantly clear. And while we all hope to avoid future pandemics, one thing is certain — we cannot avoid ever-increasing complexity. The leaders we work with often report feeling stuck, ill-equipped, or overwhelmed as they face the growing challenges ...
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NSAC releases the Spring 2021 issue of The Cooperative Accountant
NSAC publishes a technical journal, The Cooperative Accountant (TCA), exclusively for its membership on a quarterly basis. Each issue includes articles covering many cooperative related issues. Topics include accounting & auditing issues, finance and banking, cooperative management and operations, legal and regulatory issues and taxation. Sections addressing the specific needs of individual groups of members include: Small Cooperative ...
Read MoreInternal Auditors Move Toward Cloud
Nearly a quarter of internal audit teams intend to implement cloud-based audit management or governance, risk and compliance software this year, according to a new survey. The report, by the Institute of Internal Auditors’ Internal Audit Foundation and the audit, risk and compliance software developer AuditBoard, surveyed 134 internal audit leaders and found that 22 percent of the respondents indicated they intend to implement ...
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