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Topic 1

Role of Farmers Organization


Role of Farmers Organization to
Community Development.
1. Organizational and Bus.
Development
2. Gender Equality
3.
Sustainable
Agricultural
Production
and Climate Change

4. Market Access and Sales


5. Financial Services
6. Policy Development and
Advocacy

Topic 2
Organizational Structure
What
is
Organizational
Structure?
- The typically hierarchical
arrangement
of
lines
of
authority, communication, rights
and duties of an organization.
Organizational
structure
determines how the roles, power
and
responsibilities
are

ORGANIZATIONAL STRUCTURE
General Assembly

Education
Committee

Credit
Committee

Board of Directors

Election
Committee

Secretary
Manager

Cashier

Bookkeeper

Election
Committee

GENERAL
ASSEMBLY

Executive :

Secreta
ry

President
V-Pres.
Treasurer
Committee
Chair

Committe
e
ARCCESS
Project

Staff

Credit
Committe
e

Audit &
Inventor
y
Committ
ee

Education
Committe
e

Sgt. At Arms

: Mgt. Staff :
Manager
Cashier
Bookkeeper

Election
Committ
ee

Topic 3
Work Flow
Definition of Work Flow:
Work flow is the sequence of
connected steps that make up
a work process. Work flow is
considered as an abstraction of
real work involving the effort
of
a
group
of
people.
Determining an efficient work
flow can add significant value

A work flow is a depiction of a


sequence
of
operations.
It
describes the overall tasks,
steps, people involve, tools input
and output required for every
step in a business process. Work
flow models represents real work
are enable through a systematic
organization
of
resources,
information flows and defined
roles.

Receiving Payment
Member
1

Cashier

Bookkeeper

1. Issue receipt of payment to member


1. a. conduct cash count
1 b. check cash on hand against cash receipts
(balance)
2. C. Record all transaction (Cash Book)
2. Check cash receipts
2. Record all transaction (Cash Receipts
Book)

Disbursing of Funds/Money

Manager

2B

BOD

1
2A

Bookkeeper

Cashier

Receiver

1.
Prepare Voucher
2.A. Check/Approved/Recommend amount
2.B. Approved Voucher
3. Check Voucher/Release funds/record transaction
4. Sign Voucher/Received money
5. Check released voucher/record voucher to
Disbursement book

Management flow on loan processing


Member
1

Manager
2

Crecom

5 President

8B

7 8A

Bookkeeper
1.
2.
3.
4.

Cashier/
Treasurer

Check application/interview applicant


Check loan ledger
Recommendation (approved/disapproved) of loan.
Conduct CIBI. Approved/disapproved. Recommend Amount
Loan
5. Check application (approved/disapproved). Amount Loan
Approved
6. Check application/amount approved by president
7. Prepare voucher
8.A Sign voucher ( refer policy)
8.B. Sign voucher

MANAGEMENT REPORT

Organizational Plan
Accomplishment Report

General Assembly

Financial Report
Administrative Report
Special Projects Report
BOD REPORTS
Annual Report to CDA/DOLE
COMMITTEE REPORTS
Education Committee
Audit & Inventory Committee

Credit Committee
Election Committee
Other Committees

Topic 4
Pagbadyet
Pagbadyet- Usa ka plano kon unsaon pagangkon ug paggamit sa mga kapaninguhaan
sulod sa usa ka tinong panahon aron makabot ang mga katuyoan sa organisasyon. Usa
kini ka buluhaton diin gahin-gahinon ang
pundo sa programa ngadto sa mga kalihokan
ug buluhaton nga mahinungdanon aron
makab-ot ang tumong. Maingon usab nga
kini usa ka pagtan-aw sa panginahanglan sa
organisasyon nga gipadayag sa porma nga
maihap. Usa kini ka mahinungdanon himan
sa pagplanoug pagkontolar sa organisasyon.

Mga katuyoan sa paghimog badyet:


a. Aron mapatuman ang mga plano
nga gihimo ug makab-ot ang mga
tumong sa organisasyon pinaagi sa
pagpalihok ug pagmaksimisa sa
mga kapaninguhaan.
b. Aron maapod-apod og tarong sa
pinaaging epektibo ang mga
kapaninguhaan nga subay sa
nanag-unang panginahanglan.
k. Aron mabantayan ang dagan sa
panalaping bahin sa organisasyon
sa tibuok tuig ug umaabot nga mga

d. Aron sa pagpanalipod sa
organisasyon
isip
usa
ka
instrumentong mopanalipod batok
sa walay pugong nga paggasto
tungod sa kakulang sa mga
basehanan sa paggasto.
e. Aron mabaliktan-aw ug matuki
ang mga lihok ug buhat sa matag
lumilihok o trabahante.
g. Aron adunay sukaranan sa
paghimog imbento sa mga butang
o kagamitan sa organisasyon.

Hugna sa Pagbadyet
A.Sa dili pa ang aktwal nga
pabadyet
1. Pagtino sa direksiyon sa
organisasyon
Tumong
Duso
Prayoridad
2. Pagplano sa pagabuhaton
Kalihukan

B. Aktwal nga pagbadyet


1. Pagbanabana sa kinatibuk-ang
galastohon aron makab-ot ang mga
katuyoan
2. Pabanabana kon pila ang kinatibukang halin o pundong madawat sa
organisasyon
3. Pagtandi sa kinatibuk-ang halin o
pundong
madawat sa organisasyon ngadto sa
kinatibuk- ang galastohon ug paghusay
sa kalainan sa
duha base sa nanag
unang duso ug katuyoan niini.

K. Human ang aktwal nga


pagbadyet
Pagprisintar
sa
gihimong
badyet ngadto
sa
Hunta
Direktiba
o
sa
General
Assembly aron sa pag-aprobar
ug pagsagop niini.

Mga Lakang Paghimog


Badyet

1. Pag-ila sa mga prayoridad nga mga


tumong
ug
bulohaton
ug
pagbutang niinig kantidad sa
salapi nga kinahanglan
2. Pagsubli kon makatarunganon ba
ang pagplastar sa mga kantidad
3. Ang pagtan-aw sa mga tuboran sa
pinansiya sa mga katuyoan niining
mga kwarta, ug ang pagplastar sa
pinansya sa mga importanteng
bulohaton.

Mga Hiyas sa Maayong


Pagbadyet
1. Malangkobon
2. Klaro ug daling sabton
3. Mahimong ayohon kon
kinahanglan
4. Tukma ug manukad sa
tinuod nga
kahimtang

Topic 5
Definition of Terms
Bookkeepingis
a
systematic
recording of companys/members
transaction
Book of Accounts- The financial
records, ledgers and journals to
make up the accounts of a
organization. A organizations book
of accounts or book represent the
financial
meaning
of
the
organization and are crucial for
continuity,
decision
making,

Books- a organizations record of


its transactions, such as ledgers
and journals. These records
must fully and accurately reflect
the financial situation of the
organization at any given time.
Assets- any item of economic
value owned by individual or
organization,
especially
that
which could be converted to
cash.

Liabilities- a organization legal


debts or obligations that arise
during the course of business
operations. Liabilities are settled
overtime through the transfer of
economic benefits including
money, goods and services.
Liabilities recorded on the
balance sheet (right side),
liabilities include loan, accounts
payables, mortgages, differed
revenues and accrued expenses.

Equity
1. A stock or any security
representing
an
ownership
interest.
2. On a organizations balance
sheet, the amount of the funds
contributed by the owners (the
stockholders) plus the retained
earning
(or
losses)
also,
referred to as shareholders
equity

3. In the context of real estate, the


difference between the current market
value of the property and the amount the
owner still owes on the mortgage. It is
the amount that the owner would receive
after selling a property and paying off
the mortgage.
4. In terms of investment strategies,
equity (stocks) is one of the principal
assets classes. The other two are fixedincome (bonds) and cash/cash
equivalents. These are used in assets
allocation planning to structure a desired
risk and return profile for an investors
portfolio.

Single Entry- an accounting


methods in which transactions
are recorded as a single entry,
rather than as both a debit and
credit as in double entry
bookkeeping.
Single
entry
accounting
tends
to
be
suitable
only
for
small
companies
with
simple
financial statement.

Double Entry- an accounting


technique
which
each
transaction as both a credit and
a
debit.
Credit
entries
represents
the
sources
of
financing and the debit entries
represents the uses of that
financing. Since each credit has
one or more corresponding
debits (and vice versa), the
system
of
double
entry
bookkeeping always leads to a

Topic 6
Cash Receipts
What is Cash Receipts?
Cash receipts is a printed
documents that is logged by a
business each time cash is
received for a food and
services.

3 Important Purposes of Cash Receipts


1.Tracking and Reconciliation
A cash receipts with a unique
identification number can be used to
identify a sale/payment transaction.
Cash receipts are issued only in
respect of those transactions which
have been made against cash, it
becomes
easier
to
distinguish
between the value of cash sales and
credit sales made by the organization.
It is also become easier to

reconcile
the
cash
balance
available with the organization
with the amount of total cash
sales made by the company.
2. Support and Profit Estimations
Cash receipts can be used to
support the value of total sales
made by the organization. Cash
receipts help in estimating the
profitability of the business.
Cash receipts when compared
with business expenses can help

3.Avoidance
of
Fraudulent
Transactions
In the absence of cash
receipts,
it
may
become
impossible to calculate the
value of cash sales. It is quite
possible that employees may
resort to fraudulent tactics in
order to make some quick
money.
A organization can reduce

issue cash receipts in respect


of each sales transaction or
cash sales. Proper internal
controls and monitoring can
help a organization in ensuring
compliance (employees) with
various accounting policies and
procedures.

Sample of Cash Receipts


______

Name of Organization

O.R. NO.

Address
Received From:______________
Address: _____________
The sum of pesos: ______________________ ( ________ ) in the
_____________________ .

Particulars

TOTAL

Cashier/Treasurer

Received by:
_________________

Date: ________
payment of

Amount

Topic 7
Cash Voucher
What is Cash voucher?
A
printed
document
supporting payments of cash
of goods and services.

Sample of Cash Voucher


Name of Organization
Address

CASH VOUCHER
No. _________
Date __________
Paid to _______________________________________
Address _______________________________________
PARTICULARS

Amount

TOTAL
Received from _________________________________ the sum of Pesos
___________
___________________ ( ______ ) in full payment of the amount described
above.
Prepared by ___________
Received by __________
Approved by ___________ Released by __________

Topic 8
Purchases Book
What is Purchase Book?
Purchases made on credit will be
recorded in the Purchases book.

Sample of Purchases Book


Purchases
Dat
e

Purcha
ses
From

D.R./
CR
Sales
Inv.

P.O.
NO.

Accou
Farm
nts
Pala Input
Payabl
y
s
e
CR

DR

DR

Gen.
Merchan
dise

Othe
rs

DR

DR

Topic 9
Sales

What is sales book?


Sales book record all sales
transaction of the
organization.

Sample of Sales Book

Dat
e

Sold
to

Sales
Accounts
Invoice Receivables
No.
DR

Pala
y

Veg.

Farm
Inputs

CR

CR

CR

Gen.
Merch Remar
andise ks
CR

Topic 10
Individual Loan Ledger
What is loan ledger?
Loan ledger record individual
transactions (loan released
and payment) of member.

Sample of Loan Ledger


INDIVIDUAL LOAN LEDGER
Name: _________________________
Residence: ______________________

Parti
Date cula Ref
rs
.

Amou
nt
Loan

Int
Rec.

Payments
Prin.

Int. Penalt
y

Balances
Prin
.

Int.

Penalt
y

Remar
ks

Topic 11
CBU/Monthly Dues Ledger
What is CBU/Monthly Dues Ledger?
An individual form of ledger
records all payments of CBU or
Monthly dues of its member.

Sample of
CBU/Monthly Dues Individual Ledger
Individual Ledger
CBU/Monthly Dues
Name: _________________
Address: _______________
Payments
Dat
e

OR
No.
Particulars

CBU

Monthly
Dues

Total
Remark
s

Topic 12
Individual Savings Deposit Ledger
What is Savings Deposit Ledger?
Is a Ledger where all deposits
and withdrawals of individual
member recorded.

Sample of Individual Savings


Deposits Ledger
Name: __________________
Address: ________________

Date

O.R./C.V.
Particula
rs

Debit
Credit

Number

Balance

Topic 13
Inventory Ledger
What is inventory Ledger?
Ledger that records the
remaining and dispose stocks
in the given period.

Sample of Inventory
Ledger
INVENTORY LEDGER
Name of item/mdse.: _________________
Date
of
Refe
Purc renc QTY.
hase
e

IN
COS
T

TOT
AL

OUT
QTY.

COS
T

TOT
AL

BALANCE
QTY.

COS
T

TOT
AL

Topic 14
Equipment Ledger
Name of Equipment: _____________________
Date of Purchase/Acquired:________________
Reference

Cost

Depreciatio
n

Book Value

Topic 15
Cash Book
What is a Cash Book?
Is a book that records every
transaction
made
by
the
treasurer.
2 kinds of Cash Books:
1. Cash Book-Cash on Hand
2. Bank Cash Book

Sample of Cash Book


(Cash on Hand)
Cash On Hand

DATE

PARTICULARS

DEBIT

CREDI
T

BALANC
E

Sample of Bank Cash Book


Bank Cash Book

DATE

PARTICULARS

DEBIT

CREDI
T

BALANC
E

Topic 16
Cash Receipts Book
What is Cash Receipts Book?
Cash Receipts Book is used
for recording all cash received
as reflected in the Official
Receipts (O.R.)

Sample of Cash Receipts


Book
Cash Receipts Book
Dat
e

Rec O.R. Cas


eive No. h in
d
Ban
fro
k
m
DR

Sha
re
Cap
.

Loa
ns
Rec
eiva
ble

Int.
on
Loa
ns

Ser Pen
vice alty
fee

Me
mb
ers
hip
fee

savi CBU
ngs

CR

CR

CR

CR

CR

CR

CR

CR

Topic 17
Cash Disbursement Book
What is Disbursement Book?
Cash Disbursement Book is used
for recording of all payments.
The basis should be approved
Cash
Voucher
and
the
corresponding checks issued for
the purpose. These are recorded
in daily in numerical order.

Sample of Cash
Disbursement Book
Cash Disbursement Book
Dat Pai
e
d
to

C.V. Che Cas


No. ck
h in
No. Ban
k

Loa
ns
Rec
eiv
abl
e

Int.
on
Loa
ns

Ser
vic
e
fee

Cas
h
Pur
cha
ses

Cas
h
Adv
anc
es
offi
cer

Ho
nor
ari
um

Re
pre
sen
tati
on

Sal.
,
Wa
ges

CR

CR

DR

DR

DR

DR

DR

DR
CR

PRO-FORMA
BALANCE
SHEET &
INCOME
STATEMENT

PRO-FORMA BALANCE SHEET


Name of Organization
Balance Sheet/Statement of Financial Condition
As of ______ 31, 2012

ASSETS
Current Assets:
Cash on Hand
Cash in Bank
Cash Advances to officers & Employees
Short term Investment
Loans Receivables
Current
Restructured
Other Receivables:
Past Due
Computerization
Cost

Current
Year

Prior
Year

Property & Equipment:


Land
Land Improvement
Less: Accumulated. Dep. (Improvements)
Building
Less: Accumulated Dep. (Building)
Furniture, Fixtures & Office Equipment
Less: Accumulated Dep. (FF & OE)
Transportation & Equipment
Less: Accumulated Dep. (Trans, Equipment)
TOTAL ASSETS

LIABILITIES
Current Liabilities:
Savings Deposits
Loans Payable Short Term
Withholding Tax Payable
Interest on Share Capital Payable
Patronage Refund Payable
Due to CETF (Apex)
Other Payable
Long Term Liabilities:
Loans Payables- Long Term
Revolving Capital Payable
Other Liabilities:
Mutual Benefits
TOTAL LIABILITIES

Current
Year

Prior
Year

EQUITY
Members Equity:
Share Capital
Donations/Grants:
Donations
Grants
Statutory Funds:
Reserve Fund
Educational & Training fund
Optional Fund

TOTAL LIABILITIES AND EQUITY

PRO-FORMA INCOME STATEMENT


Name of Organization
Income Statement/Statement of Operation
As of ________ 31, 2012

REVENUE:
Interest Income from Loans
Service Fee
Filing Fee
Fines, Penalties, Surcharges
Membership Fees
Income/Interest from Investment
Total Revenue
EXPENSES:
Financing Cost
Interest Expense on Deposits

Current
Year

Prior
Year

Administrative Cost:
Salaries and Wages
Training & Seminars
Office Supplies
Power Light and Water
Travel &Transportation
Insurance
Repair and Maintenance
Rental
Taxes and Licenses
Professional Fees
Bank Charges
Collection Expenses
Litigation Expenses
TOTAL EXPENSES

Net Surplus on Operations:


Add/(Deduct) Extraordinary Items
Gain or loss on Sale of Acquired Assets
Property and Equipment
Gain or Loss on Investment
Net Surplus (For Allocation)
Reserve Fund (Min. of 10% of Net Surplus)
Coop Educational & Training Funds
(Max.10% of NS)
Optional Fund (Max. 10% of NS)
Amount Available for Interest on Share
Capital
and patronage Refund
NET SURPLUS (AS ALLOCATED)

PRO-FORMA BALANCE SHEET


Name of Company
Balance Sheet
As of ____________ 31, 1997

ASSETS

Current
Year

Current Assets:
Cash
Accounts Receivable
Finished Goods Inventory
Work-In-Process Inventory
Raw Materials Inventory
Pre-paid Expenses

Total Current Assets

Prior
Year

Fixed Assets
Land
Building (Net)
Machinery and Equipment
Delivery Equipment
Furniture & Fixtures

Total Fixed Assets


Other Assets
TOTAL ASSETS

LIABILITIES & EQUITY


Current Liabilities:
Accounts Payable
Notes Payable
Accrued Liabilities
Taxes Payable
Total Current Liabilities

Long Term Liabilities


Total Liabilities

Equity:
______, Capital
Add: Net Income

Total Equity

Name of Company
Income Statement
For the Period Ending ___19___

Current
Year
Sales
Less:

(No. of units sold x selling price per unit)


Sales Returns (rejects)

Net Sales
Less:

Cost of Goods Sold


Purchase
Less: Purchase Returns
Net Purchase
Add: Merchandise Inventory, Beginning
Good Available for Sale
Less: Merchandise Inventory, Ending
Cost of Goods Sold

Prior
Year

Gross Profit
Less:

Operating Expenses
Salaries
Rent
Total

Net Operating Profit

Less: Other Expenses-Interest Expense


NET PROFIT BEFORE TAXES

ACCOUNT TITLE

BRIEF
DEFINITION/DESCRIPTION
Standard Chart of Accounts for Credit
and Other Types of Cooperatives with Credit Services

ASSETS ACCOUNTS
Economic resources of a cooperative that are recognized and measured in conformity with
generally accepted accounting principles.
CURRENT ASSETS
Include cash and other assets that are reasonably expected to be realized in cash or sold or
consumed during the normal operating cycle of the business, which is usually one year.
101Cash on Hand
money order
cooperatives

Money (bills and coins), checks except post dated checks, postal
(PMO), and demand drafts still in the possession of the
custodian. This includes cash items awaiting deposits.

102

Cash in Bank
savings,
account is used

Money deposited in the bank under the name of the cooperative, i.e.
current, time deposits, and combo-account. A separate ledger
to keep track of deposits made in the bank.

103

Petty Cash Fund


maintained under
from the general
and expenditures such

104

Revolving Fund
proceeds and
expert
Fund is
of
amount of

Limited amount of money set aside for small expenditures


an imprest system. It is a revolving cash fund, withdrawn
cash account and made available for small purchases
as: stationery and supplies, taxi fares or staffs meals.

The amount set aside to pay/meet members withdrawals, loan


other operations as may be determined by the cooperative,
encashment of other checks. Like the Petty Cash, the Revolving
maintained under an imprest system, that is, the total amount
expenditures, properly supported by documents must match the
the fund.

112 Cash Advances to Officers


Duly approved cash advances for official business to
officers and employees
and Employees
subject to immediate liquidation.
140 Short Term Investment

Investment in marketable securities, government bonds, and


other mutual funds that are readily convertible into cash.

150 Loans Receivable-Current

The total loans granted to members, which are not yet due.

151 Loans ReceivableCollectibles from the member-borrowers whose loan accounts


were
Restructured
restructured upon full payment of interest due.
152 Loans ReceivableTotal collectibles from past due loans of member-borrowers.
Aging of loans
Past Due
receivable should be prepared to determine how much are the past
due loans.
153 Loans ReceivableLoan or
Loans in Litigation
of the legal

Total collectibles from past due loans under legal action. The
advance shall remain in this account during the pendency
proceedings and until fully paid/restructured/foreclosed.

154 Allowance for Probable Allowance set aside in the books of the cooperative to provide
for possible
Losses on Loans
losses due to uncollectible accounts. This account may also be
referred to as
Allowance for Doubtful Accounts. This is a contra to Loans
Receivable.
161

Receivable from

Total collectible from shortages and other losses due from

162 Other Receivables


Transactions/adjustments not classified under any of the
receivable
accounts mentioned. These also represent.
The amounts currently owed by the cooperative by persons other than
the members for services rendered.
Advances to members on account of their expenses not previously
covered by deposits such as insurance premiums on properties
pledged
to the cooperative, taxes and other government imposts,
inspection fees,
wire charges and other expenses.
170 Unused Office Supplies Office supplies on hand at the end of the accounting period.
174 Prepaid Expenses
Payments made in advance in exchange for a future benefit
usually within
one year (e.g., insurance, interest, advertising, rentals,
etc.)
LONG TERMS INVESTMENTS
Investments which the cooperative intends to hold for more than a year.
182

Long Term Investmentscooperatives.


Cooperatives

184

Long-Term InvestmentsInvestments in securities and bonds issued by the


government and its
Government Securities/Bonds
instrumentalities.

185 Long-Term InvestmentsOther (Specify)

Equity investments of the cooperative in other

All other investments not included in the above.

PROPERTY AND EQUIPMENT


Include all tangible assets with an estimated useful life beyond one year, are used in the

191Land
The cost of the land used for its main operation plus all incidental cost
such as
title, sales commission, delinquent taxes, surveying fees, legal fees,
etc. All
these are reflected in a single cost (fair market value or
appraised value if
donated). Taxes paid by the cooperative as a
contribution to the cost of public
environments (special assessment) are
treated as past of the cost of the land.
192 Land Improvement
pavement,
pavements, etc. that

of clearing
193

The cost of depreciable improvement after land acquisition (i.e.,


fencing, water system, drainage system, sidewalks and
are subject to depreciation over their useful life).

Land improvements not subject to depreciation are changed to the land


account. Examples of these expenditures are cost of surveying, cost
cost of grading, cost of subdividing, cost of landscaping, etc.

Accumulated Depreciation- Sum of depreciation on land improvements that are set-up


periodically against
Land Improvements
current operation.

196 Building
prolong

Cost of the building constructed on the land owned by the cooperative and
used for its main operation. Major repairs or improvements that will
the life of the building are considered additional cost.

197

Accumulated Depreciation Sum of depreciation on building that are set-up periodically


against current
Building
operation.

205

Furniture, Fixtures and The cost or appraised value or other appropriate value of movable
(furniture),

Furniture, fixtures and office equipment may be acquired through donations


and without any cash outlay on the part of the cooperative.
206 Accumulated Depreciation- Sum of depreciation on furniture, fixtures and office
equipment that are
Furniture, Fixtures and set-up periodically against current operation.
Office Equipment
208

Transportation Equipment
such as motorcycles,
goods, services or
if donated.

Cost of equipment which are owned by the cooperative


pick-ups, vans and other vehicles used in transporting
personnel. This is recorded at cost or appraised value

209 Accumulated Depreciation- Sum of depreciation on transportation equipment that are


set-up periodically
Transportation Equipment against current operation.
210 Leasehold Rights and
land/premises
Improvement

Cost of building and/or improvements made on leased


including cost of rights paid.

OTHER ASSETS
Are assets which do not fit into any of the preceding asset classifications.
250

Organizational Costs
Expenses incurred prior to the actual operations of the
cooperative such as
promoting and organizing. This can be amortized
over a period not exceeding
five (5 years).
Among others, these costs are:
a. Legal fees in connection with the organization;
b. Registration fees;
c. Cost of printing share capital certificates and transfer books, seal of the
c
cooperative, etc.; and
d. Other cost of services rendered in the information of the cooperative.

251

Computerization Costs
and other
exceeding three (3 years).

252

Other Funds and Deposits


Holdout deposits on guarantee fund given by the
cooperative to the funding
institutions in compliance with the requirements
of certain agreements; the
corresponding fund set aside from the reserve,
optional fund and any other
funds that may set-up by the cooperative. This
may be in the form of time
deposits or other securities. This
cooperative has the option to create subaccounts.

The cost acquisition or development of computer programs


software. This can be amortized over a period not

256 Due from Head Office/ Receivables


Branch/Subsidiary

from head office/branch or subsidiary.

257 Assets Acquired in Settlement Real or personal properties acquired by the cooperative
through judicial or
of Loans
extra-judicial settlements of loans. Should the cooperative use such
assets in
its main operation, the same assets be re-classified accordingly.

258 Other Land


main

Cost of the land owned by the cooperative, which is not used for its
operation.

259 Other Building


used for its main

Cost of the building owned by the cooperative, which is not


operation.

260 Accumulated Depreciation- Sum of depreciation on other building that are set-up
periodically againsts
-Other Building
current operation.
261 Miscellaneous Assets

Assets not falling in any of the above categories.

LIABILITY ACCOUNTS
Economic obligations of a cooperative that are recognized and measured in conformity with
generally accepted accounting principles.
CURRENT LIABILITIES
Obligations that are reasonably expected to be settled through the use of existing current
assets or the creation of other current liabilities in the same statement of condition within the
normal operating cycle of the cooperative which is usually one year.
300

Saving Deposits
at the option

Deposits made by the members that can be withdrawn anytime


of the depositors.

303

Time Deposits
specified period of

Deposits made by the members in the cooperative over a


time and withdrawable at a pre-determined date.

304

Loans Payable-Short Term


institutions, other
basis not exceeding one(1)

The indebtedness of the cooperative to financial


cooperatives, or person(s), payable on short-term
year.

308

SSS/ECC/PhilHealth
Amounts withheld by the cooperative to financial institutions
income of its
Premium and Pag-ibig
employees representing their contribution to SSS,
PhilHealth and Pag-ibig
Contributions Payable
agencies. As an employer, the cooperative has its
corresponding share of
contributions and this should be set-up every
payroll period.

309

Withholding Tax Payable


All taxes withheld as prescribed by law including the
unremitted withholding
tax deducted from the employees salaries
representing part of their possible
income tax liability to the Bureau of Internal
Revenue (BIR).

310

Accrued Expenses
statement of
period. This
for services
not yet paid.

311

Interest on Share
share capital, which
Capital Payable

Expenses that have been incurred but not yet paid as of date of
financial condition but payable within the next accounting
account represents the amount due to creditors/employees
rendered/received and other expenses already incurred but
Liability of the cooperative to its members for interest on
can be determined only at the end of every accounting period.

312 Patronage Refund Payable


refund, which can be
period.
313

Liability of the cooperative to its members for patronage


determined only at the end of every accounting

Due to CETF (Apex) An amount set aside for the education and training fund of an
apex
organization, which 50% of the amount allocated, by the
cooperative in
accordance with the provision of the cooperatives by-laws

316 Other Payables


preceding current

Other liabilities that cannot be classified under any of the


liability account.

LONG TERM LIABILTIES


Liabilities payable beyond one year.
320 Loans Payable-Long Term
The indebtedness of the cooperative to financial institutions,
other
cooperatives, or person(s), payable beyond one year.
321 Revolving Capital Payable
patronage refund,

The deferred payment of interest on share capital and


which should be agreed upon in the General Assembly.

322 Retirement Fund Payable


income of the
participating

Accumulated retirement benefits costs charged against the


cooperative over the expected remaining working lives of
employees.

323 Other Long Term Payables

Other long-term payables not elsewhere classified.

OTHER LIABILITIES
The totality of all other liabilities that cannot be classified under any of the preceding liability
refunds.
331 Deposits for Share Capital
Amount paid by the members for future subscription of
additional share
Subscription
capital when the authorized capital has been fully subscribed and
paid
pending amendment of the Cooperatives Articles of Cooperation and
Buy-Laws.
332Project Subsidy Fund Payable Unused portion of the donation/grant for training, salaries
and wages, etc.

334 Due to Head Office


/Branch/Subsidiary

Liabilities to head office/branch or subsidiary.

EQUITY ACCOUNTS
Excess of a cooperatives assets over its liabilities.
MEMBERS EQUITY
Interest of members in the cooperative.
361 Subscribed Share CapitalThe amount of share capital subscribed by regular
members payable over a
Common
certain period of time.
362 Subscription Receivable- The total unpaid subscribed share capital of regular members.
Common
363 Paid-up Share Capital Commonto the cooperative that is
membership in the cooperative.

Subscribed share capital paid by the regular member


not withdrawn during the term of his/her

364 Treasury Share Capital- Common shares bought back by the cooperative. This account
should only by Common
used in the event that there are no members who are
willing to buy the shares
of outgoing members.
365 Subscribed Share CapitalThe amount if share capital subscribed by members
(regular and associate),
Preferred
payable over a certain period of time.
366 Subscription ReceivableThe total unpaid subscribed share capital of regular
members. (regular and Preferred
associate).

367 Paid-up Share Capital- Preferred share capital subscribed and paid by the members.
Preferred
(regular and associate)
368Undivided Net Surplus (LOSS) The accumulated net surplus of the cooperative that will be
allocated and
distributed at the end of each accounting period in
accordance with Articles
86 and 87 of RA 6938
DONATION/GRANTS
381Donations and Grants
grants, aids,
interest on share

Amounts received by the cooperative as awards, subsidies,


awards, etc. This shall not be available for distribution as
capital and patronage refund.

STATUTORY FUNDS
Mandatory funds established/set up in accordance with Articles 86 and 87 of the cooperative
code.
391 Reserve Fund
Amount set aside annually for the stability of the cooperative
(equivalent to at
least 10% of net surplus). A corresponding fund should be
set up either in the
form of time deposit with local banks or government
securities. Only the
amount in excess of the share capital may be used for
the expansion and
authorized investment of the cooperative as provided
for in its by-laws.
392 Education and Training Fund The amount retained by the cooperative out of the
mandatory allocation as (local)
stipulated in the cooperatives by-laws.
393

Optional Fund
for future use

Fund set aside from the net surplus (should not exceed 10% )
such as land and building, community development, etc.

STATEMENT OF OPERATION
REVENUES
Gross increase in assets or gross decreased in liabilities recognized and measured in
conformity with generally accepted accounting principles that result from those types earning
activities of a cooperative that can change owners equity.
401 Interest Income from Loss
interest charged on

Income earned and collected by the cooperative from the


the loans granted to their members.

405 Service Fees


Fees collected by the cooperative for loan
processing/servicing/collecting.\
406 Filing Fees
the

Fees collected by the cooperative upon filing of loan applications by


member-borrowers.

407 Fines, Penalties, Surcharges


delayed amortization
408 Membership Fees
upon approval of

Fees imposed and collected by the cooperative on the


payment of the member-borrower.

Amount collected from the cooperatives member-applicants


their membership in the cooperative.

409Income/Interest from
Income earned by the cooperative form bank deposits and
investments made Investment
in financial institutions/government/business
organization. This shall include
interest income derived from the deposits
of statutory funds in the bank until
utilized. Interest on these funds shall not be
used to increase the fund.
410Miscellaneous Income
account has

All other income earned by the cooperative for which no specific


been set-up.

EXPENSES
Gross decrease in assets or gross increases in liabilities recognized and measured in
conformity with generally accepted accounting principles that result from those types
earning-directed activities of a cooperative that can change members equity.
FINANCING COSTS
501Interest Expense on Deposits Interest incurred on savings and time deposits of both
regular and associate
members.
502Interest Expense on Borrowings

Interest incurred in borrowings.

503Other Charges on Borrowings Services charges, filing fees and other fees for borrowings
incurred by the
cooperative.
ADMINISTRATIVE COSTS
516Salaries and Wages
overtime pay.

Amount incurred for services rendered by employees including

517Employees Benefits

Benefits given to employees other than salaries and wages.

518SSS/ECC/ PhilHealth
contribution to SSS,
Pag-Ibig Contribution

The organization/cooperative share in the employees


ECC, Philhealth, Pag-Ibig

519Retirement Benefit Expense The cost of providing retirement benefits to employees for
their services rendered. The cost recognize as an expenses in the periods during which the
services are rendered.

538 Officers Honorarium and Amount incurred for services rendered by directors
Allowances
and staff
539 Trainings and Seminar
Amount incurred for officers, directors, members and
employees,
for attending trainings and seminars including all expenses
related thereto after exhausting the CETF (local). For purposes of
analysis, amount incurred may be classified as to the recipients of
the trainings and seminars.
540Office Supplies
operation.

Expenses incurred for stationery and various supplies used for

551Power, Light, Water


incurred in business

Cost of electricity, water, gasoline, diesil,oil and lubricants


operations.

552Travel and Transportation Amount incurred for fares, gasoline and fuel for service vehicles,
toll fees,
board and lodging, per diem and meal allowance of officers and
employees
and members while on official travel.
553Insurance
the

Expenses incurred to insure the assets/properties of the cooperative and


bonds of accountable officers and employees.

554Repairs and Maintenance Expenses incurred in the repair and maintenance of each facility
and
equipment except major repairs that prolong the life in the asset.
555Rental
the

Expenses incurred in the building/office spaces or facilities leased by


cooperative.

556Taxes and Licenses


entities, both

Expenses incurred for taxes and fees due to government


national and local.

557Professional Fees
rendered.

Fees and related expenses incurred for professional services

558Communication Expense Amount incurred for courier (letters), telephone, e-mail, fax,
internet,
messengerial, all other means of communication.
559Representation
official

Expenses incurred related to accommodating visitors and guest on


business.

560General Assembly Expenses


meeting whether

Expenses incurred in the conduct of general assembly


regular of special.

561Meeting and ConferencesExpenses incurred for meeting and conference of directors,


committee
members, officers and staff.
562Bank Charges

Bank fees and other chargers.

563Collection Expense
effecting the

Amounts, including commissions, incurred as incentives in


collection of loans of the cooperative.

564Litigation Expense

Expenses incurred in legal cases

565Affiliation Fees
annual dues

Amount incurred to cover membership or registration fees and


to a federation or union.

566Social Services Expenses Expenses incurred by the cooperative in its social community
involvement
including provision for KBGF/CGF.
567Promotional Expenses

Expenses incurred for advertising and promotions.

586Periodicals, Magazines
publications.
Subscriptions

Expenses incurred for periodicals, magazines and other

587General Support ServicesExpenses incurred for employing the services of security


guards, janitors and messengers

570Members Benefits Expenses All expenses incurred for the benefit of the members.
575Miscellaneous Expense
under any of

All other expenses incurred by the cooperative not classified


the specified expense accounts.

576Depreciation and AmortizationAmount provided for wear and tear of property and
equipment and
amortization of intangible assets.
577Amortization of Leasehold
and improvements.
Right and Improvements
578Provision for Probable
probable
Losses on Loans

Amount provided for amortization of leasehold rights

Allocation or provision for estimated losses arising from


uncollectible accounts/loans.

EXTRAORDINARY ITEMS
590Project Subsidy
account to

This shall appear at the statement of operation as a contra


Subsidized Project Expenses.

591Subsidized Project Expenses


training, salaries and

Portion of the Project Subsidy Fund expended for


wages and other activities subsidized by donations

592Gain or Loss on Sale of Gain or loss derived from the sale of acquired assets/properties
and
Acquired Assets/Properties equipment.
and equipment
593 Gain or Loss InvestmentIncome earned or loss incurred from the disposal or permanent
decline of
value of investments.