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Announcements

  • New Member Welcome

    We are pleased to welcome our newest members to the NSAC family! 

    -Rebecca Little, Central Alabama Electric Cooperative
    -Michelle Freel, CPA, Cloverland Electric Cooperative
    -J
    oe O'Connor, Wegner CPAs

    We are so happy to have you aboard! 
  • Don't Miss this Upcoming CLN: Financial Forecasting

    October 28, 2021 | 11:00 AM EST

    Is your cooperative forward looking? Is it preparing financial forecasts? Learn how to grow your business and establish attainable, data-driven goals by attending our upcoming CLN! Financial forecasting is essential to any business’s long term success, because it gives insight into future performance based on current and past business decisions, market trends, and critical analysis. In this session, attendees will explore the value of financial forecasting, what tools and information are required to prepare one, and when it is beneficial to use one. Learn what decisions are profitable and which ones aren’t, how to create accurate budgets, how to determine future expenses and revenue, and what steps you need to take to establish a clear direction for your company.

    Register now! 

  • New Member Welcome

    Please join us in welcoming the NSAC's newest members!

    -Jason Maxwell, Sioux Valley Energy
    -Melissa Satterly, Plains Coopertative Telephone Association
    -Christina Hickert, S&T Telephone Cooperative Association
    -Clinton Richardson, United Electric Cooperative
    -Christine Duncan, Peoples Rural Telephone Cooperative Corp Inc.
    -Damon Means, Upshur Rural Electric Cooperative Corporation

    Thank you for joining the NSAC! We can't wait to watch you grow!

Happenings

  • Posted in: All-Member Community

    The IRS issued its annual update of special per-diem rates for substantiating ordinary and necessary business expenses incurred while traveling away from home ( Notice 2021-52 ). The new rates are in effect from Oct. 1, 2021, to Sept. 30, 2022. Specifically, they are the special per-diem rates, including ...

  • Posted in: All-Member Community

    The Internal Revenue Service has issued the special per diem rates that take effect Oct. 1, 2021, which taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home. Notice 2021-52 includes the special transportation industry rate, ...

  • Posted in: All-Member Community

    When I started my auditing career during the rollout of Sarbanes-Oxley, there was sustained debate within the industry as to which type of internal control was better: preventive or detective. While preventive controls are intended to prevent unauthorized or unwanted activities and variances from the ...

  • Posted in: All-Member Community

    In early 2020, the COVID-19 pandemic added another element of business disruption for organizations to manage while the effective dates to comply for FASB's new lease accounting standards were quickly approaching. Following a pandemic-related delay, the new standard takes effect for entities within ...

  • Posted in: All-Member Community

    The legislation known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, eliminated the general deduction of business entertainment expenses under Sec. 274(a). The TCJA mostly left intact, however, the deductibility of food and beverage expenses as a business expense (generally, at 50% of the expense ...