Latest News

NSAC Installs new Board of Directors, Officers, announces membership campaign recipients and recognizes members with years of service to the Society.
During our time in Austin we introduced the new elected leadership team for 2018-19, they are as follows: President, William Miller, CPA Electric ChapterVice President, Nick Mueting, CPA, CFE...
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How to Master Performance Reviews
Express gratitude for any kind of feedback you receive, because it presents opportunities to improve.  Traditional Performance evaluations are going extinct. The rapid pace of change in the modern...
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FASB Expands Private Company Consolidation Relief
FASB addressed an area of accounting that has long been a concern for private companies with the issuance of a standard designed to improve consolidation accounting for private companies.  The...
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It's Crunch Time for Private Companies on Revenue Recognition
It’s understandable that FASB’s new revenue recognition standard might not be top-of-mind for private company finance personnel despite the impending effective date.  The standard takes effect...
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Auditors See Challenges in New Leasing Standard
The new lease accounting standard that takes effect for public companies next year poses obstacles for the audit firms that have begun implementing it for their clients.  The leases standard, which...
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Financial Reporting By Cooperatives

  • Have you ever had a new issue arise that required special treatment or disclosure in your cooperative's financial statements and wished you knew how other cooperatives have handled such matters in their statements?
  • Have you ever wondered how the financial statement treatment or the footnote disclosure you "developed" compares with other cooperatives' treatment of similar matters?
  • Have you ever struggled with the writing of a footnote disclosure and wished you had access to others' solutions to comparable dilemmas so you wouldn't have to "reinvent the wheel?"

If any of these questions were true, then this may be the answer for you. The primary focus of “Financial Reporting by Cooperatives” relates to the uniqueness of financial statement disclosures by cooperatives, an area that is not well addressed by the body of accounting pronouncements. Of the few authoritative sources available to refer to for guidance in dealing with unique cooperative financial statement disclosure issues, this publication certainly ranks high! The information, extracted from the database of over 40 actual cooperative financial statements, has been sorted by financial statement classification. Each major section of the publication includes a discussion of the accounting principles relevant to that area of the financial statement. The discussion is followed by the examples of actual financial statement footnote disclosures on areas of the financial statements that include elements unique to cooperatives.

Financial Reporting by Cooperatives should prove to be an indispensable tool to every preparer of financial statements for cooperatives, to students of cooperative accounting and to anyone who has occasion to work with such statements. The publication is available free of charge to members by link only. Please click here. It is revised each year by members of NSAC’s Accounting & Auditing Committee.

The cost for a one-year subscription is $75 and for a three-year subscription is $225 for non-members.
Click here for an online order form
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