General Article Archives - Page 11
Small Business Forum: (Ac)Counting on Disruption: An Accounting Guide to Surviving the Rapidly Changing Business Landscape While Adding Value to Your Firm
Originally Published in The Cooperative Accountant, Winter 2020 IssueCovid-19 reportedly started as a limited issue in a Wuhan wet market as early as November 2019. It spread, slowly at first, and then exponentially. By March, the virus had spread around the globe and less than a year from the first outbreak, more than 1 million people had died. If the virus could have been understood and contained in those early months, before the Pandoras Box ...
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Final Regulations Under IRC Section 163(J)
Originally Published in The Cooperative Accountant, Winter 2020 Issue On July 28, 2020, the Treasury Department released final regulations with guidance on applying the limitations on the deductibility of business interest expense (BIE) under IRC Section 163(j) (the Final Regulations), which was significantly modified by the Tax Cuts and Jobs Act (TCJA) and then temporarily modified by the Coronavirus Aid, Relief, and Economic Security Act ...
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FASB Approve Accounting Update to Presentation and Disclosure by Not-For-Profit Entities for Contributed Nonfinancial Assets
Originally Published in The Cooperative Accountant, Winter 2020 Issue. On September 17, 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve transparency in the reporting of contributed nonfinancial assets, also known as gifts-in-kind, for not-for-profit organizations. Examples of contributed nonfinancial assets include fixed assets such as land, buildings, and equipment; the ...
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Revenue Planning During COVID-19 and Beyond
Originally Published in The Cooperative Accountant, Winter 2020 Issue Introduction The pandemic has brought overall economic slowdown and changes in social patterns resulting from impacts due to the SARSCoV-2 virus (COVID-19). This is making it more difficult for electric cooperatives to project future revenue patterns, and challenging to forecast future financial outcomes. This article discusses trends in revenue forecasting for the electric ...
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The Cooperative Accountant is Going Digital
NSAC's quarterly technical journal, The Cooperative Accountant, often referred to as the TCA, is going digital! Members will receive both the digital and printed versions of the winter 2020 edition, and the digital TCA will arrive through email and Connect thereafter. Watch below as Nick Mueting, NSAC President, and Bill Miller, NSAC Immediate Past President, discuss the new found benefits of the digital TCA.
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