Accounting Manual
Accounting
Manual for Federal Credit Unions
Credit unions with under $10 million in assets are provided this Accounting Manual
for Federal Credit Unions as a guide in accounting
for financial transactions and reporting. In accordance
with the Credit Union Membership Access Act (CUMAA), credit unions with $10 million or more in assets must follow generally
accepted accounting principles (GAAP) in the call
reports they file with NCUA. These credit unions
should not look to this Manual,
but should seek the advice of an independent accountant
to gain a full understanding of GAAP and its implementation.
The manual may be adopted
by federally insured, state-chartered credit unions
(FISCUs) under $10 million in assets at the option
of the credit unions and their
state supervisor.
Address any questions
or comments to the Office of Examination and Insurance (EIMAIL@ncua.gov). |