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Testimony, Comments and Statements2008Letter to FASB Responding to Questions about Co-ops - December 12 -- The Financial Accounting Standards Board (FASB) held a Roundtable discussion on a proposal to reclassify equity. NCBA participated in the Roundtable discussion and was asked to respond to questions raised by Board Member Linsmeier about the way in which co-ops operate and whether a new "perpetual" approach to equity classification would address the needs of co-ops. Letter to President-elect Obama - December 11 -- NCBA engages the President-elect and his transition team by explaining the role cooperatives play in reinvigorating our economy. US Cooperative Development Appropriations - July 11 -- Letter urging members of Senate Appropriations Subcommittee to support a request for $7.5 million for the Rural Cooperative Development Grant program, including $500,000 to continue research on economic impact of cooperatives. International Co-op Development Appropriations - July 3 -- NCBA letter to House and Senate Appropriations Committee members urging them to include $12 million for Cooperative Development Program (CDP) and to ensure USAID allocates it all to CDP program.
US Cooperative Development Appropriations - June 12 -- Letter urging members of House Appropriations SubCommittee to support a request for $7.5 million for the Rural Cooperative Development Grant program, including $500,000 to continue research on economic impact of cooperatives. Comments to FASB Accounting Proposal - May 30 -- The Financial Accounting Standards Board (FASB) recently issued its Preliminary Views (PV - see below) document, which describes a new approach to classifying equity and liabilities referred to as the "basic ownership approach." FASB has asked for comments to be submitted by May 30. FASB and International standard setters will use the document as a starting point to develop the international accounting standard on equity classification.
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