General Article Archives
FASB ISSUES Accounting Standards Update 2025-10 GOVERNMENT GRANTS (Topic 832) Accounting for Government Grants Received by Business Entities – December 2025
Summary Why Is the FASB Issuing This Accounting Standards Update? The FASB is issuing this Update to improve generally accepted accounting principles (GAAP) by establishing authoritative guidance on the accounting for government grants received by business entities. GAAP does not provide specific authoritative guidance about the recognition, measurement, and presentation of a grant received by a business entity from a government.
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Beyond the Numbers: Depreciation Studies as Strategic Tools for Electric Cooperatives
Introduction: Depreciation as a Strategic Utility Function Within the electric utility industry, depreciation is often viewed narrowly as an accounting requirement—a routine financial calculation necessary to allocate the cost of utility plant over time. Yet for electric cooperatives operating in today’s rapidly evolving energy environment, depreciation studies have become far more than technical accounting exercises. They are ...
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The Cooperative Accountant Summer 2026
The Summer 2026 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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The IRS begins to issue guidance with respect to new Sections 1062 and 139L
The Winter 2025 edition of the TAXFAX Column described two new sections added to the Code by the One Big Beautiful Bill Act (“OBBBA”) – Section 1062 (Gain from the Sale or Exchange of Qualified Farmland Property to Qualified Farmers) and Section 139L (Interest on Loans Secured by Rural or Agricultural Real Property). Since then, the Internal Revenue Service (“IRS”) has issued preliminary guidance for both new ...
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TaxFax Articles
The Spring 2026 TaxFax contains the following high interest articles. Here is a brief summary of them. For the whole article, please visit The Cooperative Accountant Spring 2026 in Connect The IRS begins to issue guidance with respect to new Sections 1062 and 139L The Winter 2025 edition of the TAXFAX Column described two new sections added to the Code by the One Big Beautiful Bill Act (“OBBBA”) – Section 1062 ...
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