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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).