General Article Archives

Internal Revenue Service Data Book 2023 Publication 55-B (April 2024

Internal Revenue Service Data Book 2023 Publication 55-B (April 2024

Published October 31, 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)

FASB ISSUES Proposed Accounting Standards Update (exposure draft) DERIVATIVES AND HEDGING (Topic 815) and REVENUE FROM CONTRACTS WITH CUSTOMERS (Topic 606)

Published October 10, 2024

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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The Cooperative Accountant Fall 2024

The Cooperative Accountant Fall 2024

Published October 1, 2024

The Fall 2024 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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Workplace Bullying: What it is and What to do about it

Workplace Bullying: What it is and What to do about it

Published September 10, 2024

Workplace Bullying: What it is and What to do about it Workplace bullying is defined as “situations where an employee repeatedly and over a prolonged period is exposed to harassing behavior from one or more colleagues (including subordinates and leaders) and where the targeted person is unable to defend him/herself against this systematic mistreatment” (Nielsen & Einarsen, 2018, p.73).  While the negative effects of ...

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NSAC Elects New Board of Directors for 2024-2025 Term

NSAC Elects New Board of Directors for 2024-2025 Term

Published August 30, 2024

The National Society of Accountants for Cooperatives (NSAC) is pleased to announce the new Board of Directors for the 2024-2025 term. The Board of Directors aids in determining the culture, strategic focus, and overall direction of the NSAC. The Board supports NSAC’s mission of serving cooperatives by providing accounting, tax and business education uniquely tailored to professionals working for and with cooperatives; providing networking ...

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