Scholarship Criteria and Eligibility
The Society will be awarding scholarships to graduating high school seniors or students currently enrolled in a college or university who have an interest in pursuing a career in cooperative accounting or finance.
The applicant will have an immediate family member (parent, guardian, or grandparent) who is a member of the National Society of Accountants for Cooperatives (NSAC), and expresses an interest, or declares a major in pursuing a career in cooperative business, accounting or finance. The applicant must be US citizen and the institution they attend must be in the United States. Scholarship funds will be sent to and made payable to the school of choice.
Applications must be submitted online by midnight local time by April 30 of each year. Official high school or post-secondary institution transcripts can be uploaded to the application or mailed directly to NSAC from the institution. Transcripts mailed must be postmarked no later than April 30.
Scholarship applicants will be notified of their application status by June 1 of each year.
INSTRUCTIONS AND ELIGIBILITY CRITERIA
Purpose
To provide ongoing support for NSAC members and their families and to encourage the pursuit of an advanced degree in accounting or finance with a focus or intent to pursue a career in cooperative accounting.
Application/Selection Process
- Visit our on-line application before April 30 of each year.
- Complete all sections of the application and submit on or before the stated deadline.
- Have a copy of your official transcripts uploaded with the application or sent directly from your institution to NSAC.
- Applications and transcripts will be verified for eligibility by the Selection Committee.
Recent Happenings
ROI for Electric Cooperatives
Investopedia defines ROI as “a ratio that measures the profitability of an investment by comparing the gain or loss to its cost” (Beattie, 2024, para. 1). Beattie goes on to point out that ROI is calculated by subtracting the initial cost of the investment from its final value, then dividing this new number by the cost of the investment, and finally, multiplying it by 100. This value is then represented as a percentage of ROI. ROI ...
More Information
Internal Revenue Service Data Book 2023 Publication 55-B (April 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 ...
More Information
FASB ISSUES Proposed Accounting Standards Update (exposure draft) DERIVATIVES AND HEDGING (Topic 815) and REVENUE FROM CONTRACTS WITH CUSTOMERS (Topic 606)
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 ...
More Information