Essentials of Cooperative Accounting

Date: Thursday, October 22, 2026
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenter: Nick Mueting, CPA, CFE, Managing Shareholder, Lindburg Vogel Pierce Faris, Chartered
Moderator: Wayne Sine, CPA, MBA, Education Director, National Society of Accountants for Cooperatives
Learning Objectives:
• Recognize financial statement accounts and presentation matters that are unique to cooperatives.
• Explain how patronage earnings are calculated, allocated, and distributed to members through cash and equity.
• Differentiate among common forms of cooperative equity, including revolving fund credits, per-unit retains, retained earnings, and written notices of allocation.
• Describe the accounting treatment and financial statement presentation of investments in other cooperatives.
• Distinguish between qualified and nonqualified patronage allocations and explain their general tax treatment for the cooperative and its patrons.
Field of Study: Taxes
Program Level: Basic
CPE Credit: 1.5 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

This course provides an introduction to the accounting concepts and financial statement elements that distinguish cooperatives from other business organizations. Participants will examine cooperative financial statement presentation, patronage allocations, members' equity, and investments in other cooperatives. The course will also address the taxation of patronage distributions, including qualified and nonqualified written notices of allocation and the relationship between patronage allocations and cooperative taxable income.

Presenter and Moderator Bios

Presenter: Nick Mueting, CPA, CFE, Managing Shareholder, Lindburg Vogel Pierce Faris, Chartered

Nick Mueting, CPA, CFE is the Managing Shareholder of Lindburg Vogel Pierce Faris, Chtd. (LVPF), a regional public accounting firm serving agricultural cooperatives and  agribusinesses clients. Nick specializes in cooperative accounting, taxation, auditing, internal controls, and governance matters affecting agricultural and rural cooperatives. He works with clients throughout the Midwest, assisting boards, management teams, and finance professionals with financial reporting, strategic planning, and emerging industry issues. Nick is an active speaker at cooperative industry conferences and educational programs, focusing on practical solutions and best practices for cooperative finance and accounting professionals.

Moderator: Wayne Sine, CPA, MBA, Education Director, National Society of Accountants for Cooperatives

After retiring as Tax Director of a regional supply cooperative on the East Coast, Wayne Sine was asked to serve as Education Director for NSAC. As an active and long-term member of NSAC, Wayne previously served as Chair of NSAC’s Tax Committee, President of the Atlantic Chapter, and was a recipient of NSAC’s Silver Bowl Award. In addition to his work with NSAC, Wayne has also served on the Legal, Tax, and Accounting (LTA) Committee of the National Council of Farmer Cooperatives, Chaired the Tax Committees for both the Virginia Chamber of Commerce and the Virginia Manufacturers Association, served on the Tax Policy Committee of the Virginia Society of CPAs, and served as Region Vice President for Tax Executives Institute.

Cost
Free for NSAC Members / $65.00 for Non-Members

  Online Registration

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.