CDA Memorandum Circular No. 004-09

September 14, 2009

CDA MEMORANDUM CIRCULAR NO. 004-09

TO	:	All Concerned

SUBJECT	:	Standard Chart of Accounts for Cooperatives

Pursuant to Section 3 of

I. Scope

This Circular shall be applied in the accounting and financial reporting of all types of cooperatives, duly registered with the Cooperative Development Authority pursuant to

II. Objective and Purposes

The basic purpose of prescribing the standard chart of accounts is to provide guidelines in the use of account and account titles in the preparation of financial statements for the use of all types of cooperatives. Specifically, these shall:

a) ensure uniformity and common understanding of accounts;

b) guide in the installation of accounting and internal control systems;

c) facilitate the conduct of audit; cTIESa

d) enhance transparency;

e) sets standards and discipline in measuring the financial safety and soundness;

f) facilitate the analysis and evaluation of financial management performance;

g) provide basis in monitoring, supervision and business linkages.

III. Financial Statements

A complete set of financial statements includes the following components:

A. Statement of Financial Condition (Balance Sheet) shows assets, liabilities, and equity accounts of a business entity as of a given date. Assets and liabilities are further classified as current or non-current. Non-current assets include property, plant and equipment, intangible assets, investments and financial assets (excluding investments under the equity method, trade and other receivables and cash equivalents); while non-current liabilities include long-term debt, long-term term provisions and other liabilities that will be settled after the current operating cycle or will not require the use of current assets. Equity accounts for a cooperative include members' share capital, donations and/or grants, and statutory funds.

B. Statement of Operations (Income Statement) presents revenues, costs and expenses, gains and losses and net surplus or net loss. The items presented are recognized in the books using modified accrual basis of accounting. Expenses are classified according to their function as part of cost of sales/services rendered, distribution or administrative activities. In a cooperative the difference between revenues and expenses is called net surplus that is allocated in accordance with the

C. Statement of Changes in Equity shows separately the changes in members' equity, donations and grants and statutory funds. Transactions affecting these accounts include members' capital build-up, refund of share capital due to membership withdrawal, acceptance of donations and grants in cash or in kind and subsequent utilization, allocation of net surplus to and utilization of statutory funds. AaIDCS

D. Cash Flows Statement is a formal statement summarizing all the cash activities of the cooperatives. These include their operating, investing and financing activities. Notes to Financial Statements include narrative descriptions or more detailed analyses of amounts shown on the face of the financial statements as well as additional information not presented on the face of the Statement of Financial Condition, Statement of Operation and Statement of Cash Flow to achieve fair presentation. It also describes the accounting policies and the measurement basis/bases used in the preparation of the financial statements.

IV. Standard Chart of Accounts for Cooperatives

Account	Account Title	Definition
Code		Statement of Financial Condition

10000	Asset Accounts Economic Resources of Cooperatives that are
	recognized and measured in conformity with Philippine Financial
	Reporting Standard taking into consideration cooperative laws,
	principles and practices in the Philippines.

11000-12000	Current	Cash and other assets that are reasonably
	Assets	expected to be realized in cash or intended for sale
		or consummation within twelve months after the
		balance sheet date, or the normal operating cycle
		of the business, unless it is restricted from being
		exchanged or used to settle a liability for at least
		twelve months after the balance sheet date (PAS 1)

11100	Cash and Cash	This account refers to cash on hand and demand
	Equivalents	deposits and other cash equivalents that are: (1)
		readily convertible to known amounts of cash; and
		(2) so near their maturity (original maturities of 3
		months or less) that they represent negligible risk
		of changes in value because of changes in interest
		rate. (PAS 7)

11110	Cash on Hand	This account refers to money (bills and coins) still
		in the possession of the cooperative's custodian.

11120	Checks & Other	This account refers to dated checks, Postal Money
	Cash Items	Order (PMO) and demand drafts awaiting deposits
	(COCI)

11130	Cash in Bank	This account refers to money deposited in the bank
		under the name of the cooperative, i.e., savings,
		current, time deposits, and combo-account. A
		subsidiary ledger shall be maintained for each bank
		account.

11140	Cash in	This account refers to money deposited in the
	Cooperative	federations to which they are affiliated, i.e.,
	Federation	savings and time deposits which are unrestricted
		and readily available when needed. A subsidiary
		ledger shall be maintained for each account.

11150	Petty Cash Fund	This account refers to limited amount of money set
		aside for small expenditures such as stationeries,
		supplies and fares maintained under an imprest
		system. It should be replenished periodically when
		the fund gets low.

11160	Revolving Fund	This account refers to the amount set aside to
		cover disbursements for recurring transactions
		maintained under an imprest system. It should be
		replenished periodically when the fund gets low.
		This may include emergency purchases,
		withdrawal of deposits, release of loan proceeds,
		etc., the maximum amount of which shall be
		predetermined by the Board of Directors.

11170	Change Fund	This account refers to the reasonable amount of
		money set aside by BOD to change bigger amount
		of bills to smaller denomination or coins or vise
		versa.

11200	Investment at Fair	This account refers to financial assets that is
	Value through	classified as held to trading and upon initial
	Profit or Loss	recognition are designated by the coop as at fair
		value through profit or loss. This shall comprise of
		both debt and equity securities and shall be
		accounted for in the same manner as Hold to
		Maturity (HTM) securities.

11300	Held-to-Maturity	This account refers to debt securities maturing
	(HTM) Financial	within the year, quoted in an active market with
	Assets	fixed or determinable payments and fixed maturity
		that the cooperative has the positive intention and
		ability to hold to maturity (PAS 39).

11310	Unamortized	This account refers to the unamortized
	Discount/	discount/premium on HTM debt securities, which
	Premium	shall be debited/credited monthly based on the
	HTM	effective interest method with the corresponding
		credit/debit to "Interest Income - HTM Debt
		Securities".

11400	Available-for-Sale	This account refers to securities that are designated
	(AFS) Financial	as available-for-sale, and are not classified as: (a)
	Assets	loans and receivables; (b) held to maturity
		investments; and (c) financial assets at fair value
		through profit and loss.

11410	Accumulated	This account refers to cumulative gains/(losses)
	Gains/Losses	arising from change in the fair value of AFS
	AFS	securities. The contra cumulative account is "Net
		Unrealized Gains/(Losses) on AFS Financial
		Assets", which is a separate component of equity.

11420	Allowance for	This account refers to the amount of impairment
	Probable	loss that has been incurred on AFS Securities. This
	Losses AFS FA	is a temporary account to offset unrealized gains
		on investments AFS.

11500	Unquoted Debt	This account refers to debt instruments that do not
	Securities	have a quoted market price in an active market and
	Classified	whose fair value cannot be reliably measured,
	As Loans	including derivatives that are linked to and must be
		settled by delivery of such unquoted debt
		instruments, which shall be measured at cost.

11600	Investment in Non-	This account refers to equity instruments that do
	Marketable Equity	not have a quoted market price in an active market,
	Securities (INMES)	and whose fair value cannot be reliably measured,
		but which shall be measured at cost.

11610	Allowance for	This account refers to cumulative amount of
	Probable	impairment loss that has been incurred on INMES.
	Losses INMES

11700	Loans and	These refer to financial assets with fixed or
	Receivables	determinable payments that are not quoted in an
		active market other than Available for Sale, Held
		to Maturity and Investment at Fair Value through
		Profit and Loss.

11711	Loans Receivable	This account refers to the outstanding balance of
	Current	loans granted to the members which are not yet
		due

11712	Loans Receivable	This account refers to outstanding balance of loans
	Past Due	to member-borrowers not paid on installment due
		date, considered as Portfolio at Risk (PAR).

11713	Loans Receivable	This account refers to receivables from the
	Restructured	member-borrowers whose loan accounts were
		restructured upon full payment of interests due.

11714	Loans Receivable	This account refers to receivables from member-
	Loans in	borrowers under legal action. The loan shall
	Litigation	remain in this account during the pendency of the
		legal proceedings and until fully
		paid/restructured/foreclosed and undergone
		proceedings.

11715	Unearned	This account refers to interest already received but
	Interests and	not yet earned and presented as a contra asset
	Discounts	account.

11716	Allowance for	This account refers to the cumulative amount set
	Probable Losses	up against the current operation for possible losses
	on Loans	arising from non-collection of loans.

11721	Accounts	This account refers to the amount due from
	Receivables	member and/or non-member patrons resulting from
	Trade Current	services rendered and sales of related goods/
		merchandise which are expected to be collected
		within the credit terms set by the Board of
		Directors.

11722	Accounts	This account refers to total trade receivables due
	Receivables	from members and/or non-member patrons which
	Trade Past Due	remain unpaid beyond the credit terms set by the
		BOD.

11723	Accounts	This account refers to total Trade receivables from
	Receivables	the member & non-member patrons whose
	Trade	accounts were restructured upon full payment or
	Restructured	settlement of interests due and/or penalties.

11724	Accounts	This account refers to total trade receivables from
	Receivables	member and non-member patrons under legal
	Trade in	action. The receivables shall remain in this account
	Litigation	during the pendency of the legal proceedings and
		until fully settled.

11725	Allowance for	This account refers to the cumulative amount set
	Probable Losses	up against the current operation for possible losses
	on Accounts	arising from non-collection of accounts.
	Receivable Trade

11730	Installment	This account refers to the amount due from
	Receivables	members and non-member patrons for sale of
	Current	merchandise/goods on a deferred payment or
		installment plan.

11731	Installment	This account refers to amount due from members
	Receivables	and non-member patrons for sale of merchandise/
	Past Due	goods on a deferred payment or installment plan
		which remain unpaid beyond the terms set by the
		cooperative.

11733	Installment	This account refers to amount due from members
	Receivables	and non-member patrons for sale of merchandise/
	Restructured	goods on a deferred payment or installment plan
		that were restructured upon full payment or
		settlement of interests due and/or penalties.

11734	Installment	This account refers to amount due from members
	Receivables in	and non-member patrons for sale of merchandise/
	Litigation	goods on a deferred payment or installment plan
		under legal action. The receivables shall remain in
		this account during the pendency of the legal
		proceedings and until fully settled.

11735	Allowance for	This account refers to the cumulative amount set
	Probable	up against the current operation for possible losses
	Losses on	arising from non-collection of installment
	Installment	receivables.
	Receivables

11736	Unrealized Gross	This account refers to the unrealized portion of the
	Margin	gross margin on goods sold on installment basis.
		This is a contra account to installment receivable.
		(used by coops involved in real estate operations)

11740	Sales Contract	This account refers to amortized cost of the
	Receivable	receivables arising from installment sale of assets
		acquired in settlement of loans/obligations.

11741	Allowance for	This account refers to the cumulative amount of
	Probable	impairment loss that may arise from non-collection
	Losses Sales	of payment on Sales Contract Receivables.
	Contract
	Receivables

11750	Advances to	This account refers to duly approved cash
	Officers,	advances for official business to officers,
	Employees and	employees and members, subject to liquidation in
	Members	accordance with the policy of the cooperative.

11760	Due from	This account refers to total collectibles due from
	Accountable	accountable officers and employees arising from
	Officers and	shortages, losses and unliquidated cash advances
	Employees	beyond the prescribed period, that are subject to
		immediate settlement.

11770	Finance Lease	This account refers to current portion of the long
	Receivable	term lease receivables arising from sale of
		goods/property under finance lease agreement.

11780	Other Current	This account refers to transactions/adjustments not
	Receivables	classified under any of the receivable accounts
		mentioned.

11800	Inventories	These refer to cost or other appropriate value of
		merchandise and other goods on hand, in-transit,
		on consignment with other entities and in process
		which are intended for sale or production.

11810	Merchandise	This account refers to cost of goods on hand, in
	Inventory	consignment and in-transit, available for sale at the
		end of the accounting or reporting period.

11820	Repossessed	This account refers to fair value of inventories
	Inventories	previously sold but regained as a result of the
		default of the payments due from
		members/customers.

11830	Spare	This account refers to spare parts/materials and
	Parts/Materials	other goods on hand and in transit which are held
	& Other Goods	for sale.
	Inventory

11840	Raw Materials	This account refers to cost of raw materials on
	Inventory	hand and in transit at the end of the accounting or
		reporting period.

11850	Work in	This account refers to cost of job or work in
	Process	process on hand at the end of accounting or
	Inventory	reporting period.

11860	Finished Goods	This account refers to cost of completed job or
	Inventory	work orders and goods manufactured/produced/
		processed on hand and ready for sale at the end of
		accounting or reporting period.

11870	Agricultural	This account refers to the harvested product of the
	Produce	biological assets and shall be measured at its fair
		value less estimated point-of-sale costs at the point
		of harvest.

11880	Equipment for	This account refers to cost of equipment on hand
	Lease	intended for lease purchase agreement.
	Inventory

11890	Allowance for	This account refers to allowance set aside to
	the Decline in	provide for impairment losses on inventory. This is
	Value of	a contra account to Inventories.
	Inventory

11900	Biological Assets	This account refers to the cost of living animals
		and plants that are intended for sale. This shall be
		measured at its fair market value less estimated
		point-of-sale costs, except when estimates of fair
		value are determined to be clearly unreliable.
		Biological assets refer to living animals or plants.
		(PAS 41).

12000	Other Current	This account refers to any other assets which are
	Assets	expected to be realized, consumed or used within
		the year. It also includes any other current assets
		that are not assigned to cash and cash equivalents,
		and loans and receivables.

12100	Input Tax	This account refers to value-added tax due from or
		paid by a VAT registered/registrable entity on the
		importation or local purchases of
		merchandise/goods or services including lease or
		use of property.

12200	Deposit to	This account refers to the amount paid in advance
	Suppliers	to suppliers.

12300	Unused	This account refers to cost of supplies on hand.
	Supplies

12400	Prepaid	This account refers to payments made in advance,
	Expenses	to be amortized within one (1) year (e.g.,
		insurance, interest, rentals, etc.)

13000-	Non Current	All other assets not classified as current to include
17000	Assets	tangible, intangible, operating and financial assets
		of a long term nature.

13100	Held-to-Maturity	This account refers to debt securities quoted in an
	(HTM) Financial	active market with fixed or determinable payments
	Assets	and fixed maturity that the cooperative has the
		positive intention and ability to hold to maturity
		(or as defined under PAS 39).

13110	Un-amortized	This account refers to the unamortized
	Discount/	discount/premium on HTM debt securities, which
	Premium	shall be debited/credited monthly based on the
	HTM	effective interest method with the corresponding
		credit/debit to "Interest Income HTM Debt
		Securities".

13120	Allowance for	This account refers to the cumulative amount of
	Probable	impairment loss that has been incurred on HTM
	Losses HTM-	LT FA securities.
	LT FA

13200	Available-for-	This account refers to securities that are designated
	Sale (AFS)	as available-for-sale, and are not classified as: (a)
	Financial Assets	loans and receivables; (b) held to maturity
		investments; and (c) financial assets at fair value
		through profit and loss.

13210	Accumulated	This account refers to cumulative gains/(losses)
	Gains/Losses	arising from change in the fair value of AFS
	AFS	securities. The contra cumulative account is "Net
		Unrealized Gains/(Losses) on AFS Financial
		Assets", which is a separate component of equity.

13220	Allowance for	This account refers to the amount of impairment
	Probable	loss that has been incurred on AFS Securities. This
	Losses AFS	is a temporary account to offset unrealized gains
	FA	on investments AFS.

13300	Unquoted Debt	This account refers to debt instruments that do not
	Securities	have a quoted market price in an active market and
	Classified As	whose fair value cannot be reliably measured,
	Loans	including derivatives that are linked to and must be
		settled by delivery of such unquoted debt
		instruments, which shall be measured at cost.

13400	Investment in	This account refers to equity instruments that do
	Non-Marketable	not have a quoted market price in an active market,
	Equity Securities	and whose fair value cannot be reliably measured,
	(INMES)	but which shall be measured at cost.

13410	Allowance for	This account refers to cumulative amount of
	Probable Losses	impairment loss that has been incurred on INMES.
	INMES

13500	Investment in	This account refers to the amount of the
	Subsidiaries/	cooperative's investment in the equity instruments
	Associates and	of unconsolidated subsidiaries/associates, or joint
	Joint Ventures	ventures. Accounted for in accordance with PAS
		27 for Investment in Subsidiaries, PAS 28 for
		Investment in Associates and PAS 31 for
		Investment in JVs.

13600	Investment	Cost of property (land or building or a portion
	Property	thereof) used to generate income or capital
		appreciation or both, not used in production of
		goods, supply or services nor for administrative
		purposes nor sale in the ordinary course of
		business measured at cost and subject to
		depreciation. Fair value of property must be
		disclosed at the end of accounting/reporting period
		(PAS 40).

13610	Investment	This account refers to cost of land or a portion
	Property	thereof to generate income or capital appreciation
	Land	or both, not used in production of goods, supply or
		services nor for administrative purposes or sale in
		the ordinary course of business measured at cost.
		Fair value of the property must be disclosed at the
		end of the accounting/reporting period.

13620	Investment	This account refers to the cost of building or a
	Property	portion thereof to generate income or capital
	Building	appreciation or both, not used in production of
		goods, supply or services nor for administrative
		purposes or sale in the ordinary course of business
		measured at cost and subject to depreciation.

13630	Accumulated	This account refers to the total amount of
	Depreciation	depreciation and impairment on Investment
	& Impairment	Property Building that are set up periodically
	Investment	and charged against the current operations.
	Property-Bldg.

13700	Real and Other	This account refers to real and other properties,
	Properties	acquired by the co-op in settlement of loans and
	Acquired (ROPA)	receivables through foreclosure or dacion en pago
		and/or for other reasons. Should the cooperative
		use such assets in its main operation, the same
		assets shall be re-classified accordingly.
13710	Allowance for	This account refers to the cumulative amount of
	Probable	impairment loss incurred on ROPA, which shall
	Losses	be accounted for in accordance with PAS 36.
	ROPA

14000	Property, Plant	All tangible assets with an estimated useful life
	and Equipment	beyond one year, are used in the conduct of the
		business, and not intended for sale in the ordinary
		course of business. Recorded at cost or fair value
		if donated.

14110	Land	This account refers to the acquisition cost of the
		land used for its main operation plus all incidental
		costs such as title, taxes, surveying fees, legal fees,
		restoration cost, and other cost, etc. All these are
		reflected in a single cost (fair market value or
		appraised value if donated). Taxes paid by the
		cooperatives as a contribution to the cost of public
		improvements (special assessment) are treated as
		part of the cost of the land. At the end of the
		accounting/reporting period, fair value of the
		property must be disclosed.

14111	Accumulated	This account refers to the total amount of
	Impairment	impairment that are set up and charged against the
	Loss	current operation.

14120	Land	This account refers to the cost of depreciable
	Improvements	improvements after land acquisitions such as
		fencing, roadways, landscaping, etc., that are
		subject to depreciation over their useful lives.

14121	Accumulated	This account refers to the total amount of
	Depreciation	depreciation/impairment cost on land improvement
	Land	that are set up periodically and charged against the
	Improvements	current operations.

14130	Building and	This account refers to the acquisition/construction
	Improvements	cost of the building and its improvement on the
		land owned and used for its main operation. Major
		repairs or improvements that will prolong the life
		of the building are considered capitalizable cost.
		At the end of the accounting/reporting period, fair
		value of the property must be disclosed.

14131	Accumulated	This account refers to the total amount of
	Depreciation	depreciation/impairment cost on building that are
	Building and	set up periodically and charged against the current
	Improvements	operations.

14140	Building on	This account refers to the cost of construction of
	Leased/Usufruct	new building on a leased/usufruct land and shall be
	Land	depreciated over the estimated life of the building
		or the lease/usufruct term whichever is shorter.

14141	Accumulated	This account refers to total amount of depreciation
	Depreciation	on Building on Leased/Usufruct Land based on
	Building on	cost that are set-up periodically and charged
	Leased/Usufruct	against the current operations.
	Land

14150	Utility Plant	This account refers to cost of property and
		equipment used in the generation of power/water
		and other utilities for operation and/or for
		distribution to consumers.

14151	Accumulated	This account refers to total amount of depreciation
	Depreciation	cost on Utility Plant that are set up periodically
	Utility Plant	and charged against the current operations.

14160	Property, Plant	This account refers to the cost determined by the
	& Equipment	fair or present value of leased Property, Plant and
	Under Finance	Equipment.
	Lease

14161	Accumulated	This account refers to total amount of depreciation
	Depreciation	on PPE under Finance Lease that are set-up
	Property, Plant	periodically against current operations.
	& Equipment
	Under Finance
	Lease

14170	Construction in	This account refers to the cost of materials, labor
	Progress	and other construction related costs incurred on
		unfinished construction project, prior to
		occupancy/actual use.

14180	Furniture,	This account refers to the cost of movable
	Fixtures &	(furniture), immovable (fixtures) properties and
	Equipment	office/production/store equipment used in the
	(FFE)	ordinary course of business such as but not limited
		to desks, chairs, cabinets, computers, vaults,
		including incidental expenses incurred in acquiring
		them, up to the time they are received and ready
		for use.

14181	Accumulated	This account refers to the total amount of
	Depreciation	depreciation/impairment cost on Furniture, Fixture
	FFE	and Office Equipment that are set up periodically
		and charged against the current operations.

14190	Machineries,	This account refers to the cost of machineries,
	Tools and	tools and equipment owned and used in producing
	Equipment	goods, providing services and repairs.

14191	Accumulated	This account refers to the total amount of
	Depreciation	depreciation on machineries, tools and equipment
	Machineries,	that are set-up periodically and charged against the
	Tools and	current operations.
	Equipment

14200	Kitchen,	This account refers to the cost of equipment,
	Canteen &	cutleries and other tools used in food preparation
	Catering	and serving including incidental expenses incurred
	Equipment/	in acquiring them up to the time they are received
	Utensils	and ready for use.

14201	Accumulated	This account refers to the total amount of
	Depreciation	depreciation on Kitchen, Canteen and Catering
	Kitchen,	Equipment/Utensils that are set-up periodically
	Canteen &	against current operations.
	Catering
	Equipment/
	Utensils

14210	Transportation	This account refers to the cost of equipment owned
	Equipment	and used in transporting goods, services or
		personnel such as motorcycles, pick-ups, vans and
		other vehicles.

14211	Accumulated	This account refers to the total amount of
	Depreciation	depreciation/impairment cost on Transportation
	Transportation	Equipment that are set up periodically and charged
	Equipment	against current operations.

14220	Linens and	This account refers to the cost of linens and the
	Uniforms	uniforms used by employees and staff including
		costs of tablecloth, curtains, blankets and similar
		items.

14221	Accumulated	This account refers to the total amount of
	Depreciation	depreciation on linens and uniforms that are set-up
	Linens and	periodically against current operations.
	Uniforms

14230	Nursery/	This account refers to the cost of nursery and
	Greenhouses	greenhouse facilities and equipment used for
		seedling production and growing of vegetables.
14231	Accumulated	This account refers to total amount of depreciation
	Depreciation	and impairment on nursery and greenhouse that are
	Nursery/	set-up periodically and charged against the current
	Greenhouse	operations.

14240	Leasehold	This account refers to the cost of improvements on
	Rights &	premises under operating lease including cost of
	Improvements	rights and concession rights which are subject to
		amortization over the useful life of the property or
		the term of the lease, whichever is shorter.

15100	Biological	This account refers to cost of breeding
	Assets-Animals	stock/working animals owned by the cooperative.

15101	Accumulated	This account refers to total amount of depreciation
	Depreciation	and impairment on Biological Assets - Animals
	Biological	that are set-up periodically and charged against the
	Assets -	current operations.
	Animals

15200	Biological	This account refers to living plants that produces
	Assets-Plants	seeds, seedlings, flowers or fruits.

15201	Accumulated	This account refers to total amount of depreciation
	Depreciation	and impairment on BA - plants that are set-up
	Biological	periodically and charged against the current
	Assets-Plants	operations.

16000	Intangible Assets	Identifiable non-monetary asset without physical
		substance for which future economic benefits are
		expected to flow back and amortized over the
		estimated useful life or legal life whichever is
		shorter.

16100	Franchise	For Franchisor This account refers to the cost of
		developing and registering the trade mark/brand/
		logo for a particular product or services for the
		exclusive use and benefit of the coop. For the
		Franchisee the cost of acquiring the right and
		privilege to sell goods and services using the
		particular trademark/brand/logo of the franchisor.

16200	Franchise Cost	This account refers to the cost of acquiring
		privilege or right granted by Franchising Agencies
		to a cooperative to exercise an exclusive service to
		a particular route or area.

16300	Copyright	This account refers to the right for the exclusive
		use or distribution of products or services acquired
		from an author or artists.

16400	Patent	This account refers to the exclusive rights granted
		by the state to a patentee (the inventor or assignee)
		for a fixed period in exchange for the regulated,
		public disclosure of certain details of a device,
		method, process or composition of matter which is
		new, inventive, and useful or industrially
		applicable.

17000	Other Non-	Assets which do not fit into any of the preceding
	Current Assets	classifications.

17100	Cooperative	This account refers to expenses incurred prior to
	Development	the actual operations of the cooperative, subject to
	Cost	amortization for a period not exceeding three (3)
		years.

17200	Product/	This account refers to cost of enhancement/
	Business	improvements of existing products and/or
	Development	development of new products and
	Cost	prototypes/samples for production after
		establishing the technical and commercial
		feasibility.

17300	Computerization	This account refers to the cost of acquisition or
	Cost	development of computer programs and other
		software excluding upgrading of system. This is
		amortized over a period not exceeding three (3)
		years or useful life whichever is shorter.

17400	Other Funds	This account refers to restricted funds set aside for
	and Deposits	funding of Statutory and other reserves such as
		Retirement, Members' Benefit and Other Funds.
		This may be in the form of time deposit or other
		securities which may be convertible to cash when
		needed.

17500	Finance Lease	This account refers to the long term portion of the
	Receivable	Finance Lease Receivables.

17600	Due from Head	This account refers to receivables from Head
	Office/Branch/	Office/Branches/Subsidiary
	Subsidiary

17700	Assets Held for	This account refers to non current assets and/or
	Sale	assets of a discontinued operation held for sale
		which is measured at the lower of its carrying
		amount or fair value less cost to sell.

17800	Deposit on	This account refers to deposits on containers
	Returnable	subject to refund upon its return.
	Containers

17900	Miscellaneous	This account refers to assets not falling in any of
	Assets	the above categories.

20000-23000	Liabilities Economic Obligations that are recognized and
	measured in conformity with generally accepted accounting principles
	taking into consideration cooperatives' laws, principles and practices in
	the Philippines.

21000	Current	Obligations reasonably expected to be settled
	Liabilities	within the normal business operating cycle, that:
		(a) is due within 12 months after balance sheet
		date; (b) is held primarily for the purpose of being
		traded; (c) does not have an unconditional right to
		defer settlement of the liability for at least 12
		months after balance sheet date.

21100	Saving Deposits	This account refers to deposits made by members
		that can be withdrawn anytime at the option of the
		member-depositors.

21200	Time Deposits	This account refers to deposits made by members
		for a specified period of time and withdrawable at
		a predetermined date.

21300	Accounts Payable	This account refers to obligations/indebtedness to
	Trade	suppliers for purchase of goods and services
		intended for sale.

21400	Accounts Payable	This account refers obligations/indebtedness to
	Non Trade	suppliers for purchase of goods and services not
		intended for sale (e.g., supplies, periodicals and
		etc.)

21500	Loans Payable	This account refers to the indebtedness to financial
	Current	institutions, federations, unions, or individuals
		payable within the accounting/fiscal period and the
		current portion of the Long Term Loans Payable.

21600	Finance Lease	This account refers to the current portion of PPE
	Payable Current	acquired under Finance Lease Agreement.

21700	Due to Regulatory	This account refers to amount collected from
	Agencies	members in payment for registration, licensing,
		supervision, etc. with Regulatory Agencies.

21800	Cash Bond	This account refers to amount received from
	Payable	members/employees as guarantee for the use of
		equipment/accessories/future losses, shortages and
		damages.

21900	SSS/ECC/	This account refers to amounts withheld from the
	PhilHealth/Pag-	compensation income of employees representing
	Ibig Premium	their premium contributions to SSS, PhilHealth
	Contributions	and Pag-Ibig agencies and the corresponding
	Payable	share of the cooperative as employer.

22000	SSS/Pag-Ibig	This account refers to amounts withheld from the
	Loans Payable	compensation income of employees representing
		their payment of loans to SSS and Pag-Ibig
		agencies.

22100	Withholding Tax	This account refers to all taxes withheld as
	Payable	prescribed by law.

22200	Output Tax	This account refers to value added tax on the sale
		of taxable merchandise/goods and services.

22300	VAT Payable	This account refers to excess of output tax over
		input tax.

22400	Accrued	This account refers to expenses that have been
	Expenses	incurred but not yet paid as of the end of
		accounting period.

22500	Interest on Share	This account refers to liability to members for
	Capital Payable	interest on share capital, which can be determined
		only at the end of fiscal year.

22600	Patronage	This account refers to liability to members for
	Refund Payable	patronage refund, which can be determined only at
		the end of fiscal year.

22700	Due to	This account refers to the accumulated amount set
	Union/Federation	aside to be credited to the Union/Federation where
	(CETF)	the cooperative is a member. This corresponds to
		the 50% of the total annual allocation for the
		Education and Training Fund.

22800	Deposit from	This account refers to deposits from customers for
	Customers	containers, food or other services subject to refund.

22900	Advances from	This account refers to advance payment for
	Customers	delivery of goods or services.

23000	School Program	This account refers to an amount allocated as
	Support Fund	support mechanism to school program, which
	Payable	remains unpaid. (applicable to public school
		based cooperatives only)

23100	Other Current	This account refers to other liabilities that cannot
	Liabilities	be classified under any of the preceding current
		liability accounts.

24000	Non-Current	Liabilities payable beyond one year.
	Liabilities

24100	Loans Payable	This account refers to the indebtedness of the
		cooperative to financial institutions, federations,
		unions, or individuals payable beyond one year.

24200	Discounts on	This account represents the interest deducted from
	Loans Payable	the loan value/principal to be amortized over the
		term of the loan using effective interest method.
		This is a contra account to Loans Payable.

24300	Bonds Payable	This account refers to the amortized cost of
		obligations arising from the issuance of bonds.

24400	Unamortized	This account refers to the unamortized
	Bond Discount/	discount/premium on bonds payable which shall be
	Premium	amortized during the term of the bond issued using
		the effective interest method.

24500	Revolving	The account refers to deferred payment of interest
	Capital Payable	on share capital and patronage refund, which
		should be agreed upon in the General Assembly.

24600	Retirement Fund	This account refers to the accumulated retirement
	Payable	benefit costs charged against the income of the
		cooperative over the expected remaining working
		lives of participating qualified employees.

24700	Finance Lease	This account refers to the future lease payments for
	Payable Long	Property, Plant and Equipment acquired under
	Term	finance lease, Net of the Current Portion.

24800	Other Non-Current	The totality of all other liabilities that cannot be
	Liabilities	classified after any of the preceding liability
		accounts.

24810	Project Subsidy	This account refers to the unused portion of the
	Fund	donation/grant for training, salaries and wages, etc.

24820	Members'	This account refers to funds for special purposes
	Benefit and	such as member's benefits, including Kilusang
	Other Funds	Bayan Guarantee Fund (KBGF)/Cooperative
	Payable	Guarantee Fund (CGF) not part of the distribution
		of net surplus.

24830	Due to Head	The account is used to record inter-office
	Office/Branch/	transactions in the books of Head Office
	Subsidiary	(HO)/Branch/Subsidiary and should be closed at
		the end of the accounting period.
24840	Other Non	This account refers to other long term liabilities
	Current	not elsewhere classified.
	Liabilities

30000	Equity Excess of a cooperative's assets over its liabilities.

30100	Members'	This account refers to ownership Interest of
	Equity	members in the cooperative.

30110	Authorized Share	This account refers to authorized capitalization in
	Capital	common share as prescribed in the articles of
	Common	cooperation.

30120	Unissued Share	This account refers to portion of the Authorized
	Capital	Share Capital Common prescribed in the
	Common	articles of cooperation which is not yet subscribed
		and issued.

30130	Subscribed Share	This account refers to the share capital subscribed
	Capital Common	by regular members payable over a certain period
		of time.

30140	Subscription	This account refers to the total unpaid subscribed
	Receivable	share capital of regular members.
	Common

30150	Paid-up Share	This account refers to collected subscribed capital
	Capital	stock common share (if memo entry recording is
	Common	used).

30160	Treasury Shares	This account refers to common shares bought back
	Capital	and held in treasury. This account should only be
	Common	used in the event that there are no members who
		are willing to buy the shares of outgoing members.

30170	Authorized Share	This account refers to the authorized capitalization
	Capital	in preferred shares as prescribed by the articles of
	Preferred	cooperation.

30180	Unissued Share	This account refers to portion of the Authorized
	Capital	Share Capital Preferred as prescribed by the
	Preferred	articles of cooperation which are not yet
		subscribed and issued.

30190	Subscribed Share	This account refers to the preferred share capital
	Capital-Preferred	Subscribed by member (regular and associate)
		payable over a certain period of time.

30200	Subscriptions	This account refers to the total unpaid subscribed
	Receivable	preferred share capital of regular and associate
	Preferred	members.

30210	Paid-up Share	This account refers to collected subscribed
	Capital-Preferred	preferred share capital (if memo entry recording is
		used).

30220	Treasury Shares	This account refers to preferred shares previously
	Capital	issued and reacquired and held in treasury, but not
	Preferred	retired or cancelled, and may be re-issued to
		existing members.

30230	Deposit for Share	This account refers to amount paid by the members
	Capital	for capital subscription equivalent to the value of
	Subscription	less than one share and additional subscriptions in
		excess of authorized capital pending approval of
		the amendments to increase Authorized Share
		Capital. This may also include the amount of share
		capital paid but not yet covered by subscription
		contract. Subsidiary ledgers shall be maintained for
		this account.

30300	Undivided Net	This account refers to the accumulated net surplus
	Surplus	of the cooperative that is allocated and distributed
		at the end of each reporting period in accordance
		with Article 86 of RA 9520. This account is used
		for Interim Financial Statement Presentation only.

30400	Net Loss	This account refers to temporary account to record
		losses in operations incurred during the reporting
		period. Net loss for the year shall be charged
		against reserve fund, subject to provisions of
		Article 86 of RA 9520.

30500	Donations/	This account refers to amounts received by the
	Grants	cooperative as awards, subsidies, grants, aids, and
		others. This shall not be available for distribution
		as interest on share capital and patronage refund.

30600	Statutory Funds	Mandatory funds established/set up in accordance
		with Article 86 of RA 9520.

30610	Reserve Fund	This account refers to the 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.

30620	Coop.	This account refers to the amount retained by the
	Education &	cooperative for education and training of its
	Training Fund	members, officers and staff out of the mandatory
		allocation as stipulated in the cooperative's by-
		laws.

30630	Community	This account refers to the fund set aside from the
	Development	net surplus which should not be less than 3% for
	Fund	projects and/or activities that will benefit the
		community where the cooperative operates.

30640	Optional Fund	This account refers to fund set aside from the net
		surplus not exceeding 7%. It shall be used for any
		of the following purposes: land and building,
		acquisition of equipment, members' benefit, or
		other purposes.

30700	Unrealized	This account refers to the cumulative gains (losses)
	Gains/Losses	arising from change in the fair value of AFS
		securities.

Statement of Operations

40000	Revenue Items Gross inflow of economic benefits during the
	period arising in the course of the ordinary activities of the coop when
	those inflows result in increases in equity, other than increases relating
	to contributions from equity participants.

40100	Income from	All income derived from Credit Operations.
	Credit Operations

40110	Interest Income	This account refers to income earned and collected
	from Loans	by the cooperative from the interest charged on the
		loans granted to their members.

40120	Service Fees	This account refers to the fees collected by the
		cooperative for loan processing/
		servicing/collecting.

40130	Filing Fees	This account refers to the fees collected by the
		cooperative upon filing of loan applications by
		member-borrowers.

40140	Fines, Penalties,	This account refers to the fees imposed and
	Surcharges	collected by the cooperative on the delayed
		amortization payments of the member-borrower.

40200	Income from	All income derived from Service Operations.
	Service Operations

40210	Service Income	This account refers to the amount collected for
		various services rendered.

40220	Interest Income	This account refers to interest earned arising from
	from Lease	lease of assets under Finance Lease Agreement.
	Agreement

40300	Income from	All income derived from marketing/
	Marketing/	consumers/production operations.
	Consumers/
	Production
	Operations

	Net Sales	Total sales reduced by sales returns, allowances
		and discounts.

40310	Sales	This account refers to invoice price of all
		merchandise/goods sold or services rendered
		whether paid or on account. (segregate sales from
		members and non-members)

40320	Installment Sales	This account refers to sales to members and non-
		members of merchandise/goods on a deferred
		payment plan or installment plan.

40330	Sales Returns &	This account refers to deductions from the invoice
	Allowances	price due to returns resulting from damage, defects
		or errors in the kind or quality of goods
		delivered/sold to customers/members.

40340	Sales Discounts	This account refers to deductions allowed to
		customers for settlement/prompt payment of their
		accounts.

40400	Other Income	Income received by the cooperatives other than its
		main operation.

40410	Income/Interest	This account refers to the income earned by the
	from Investment/	cooperatives from deposits in banks/other
	Deposits	institutions and investments made in financial
		institutions/government/business organizations.
		This shall include interest income derived from the
		deposit of statutory funds in the bank until utilized.
		(refer to the accounting manual)

40420	Membership Fee	This account refers to the amount collected from
		the cooperative's members-applicants upon
		approval of their membership in the cooperative.

40430	Commission	This account refers to an amount received by the
	Income	cooperative from supplier as incentives.

40440	Realized Gross	This account refers to income earned by the
	Margin	cooperative from the installment sales of real
		estate.

40450	Miscellaneous	This account refers to all other income earned by
	Income	the cooperative for which no specific account has
		been set up.

50000	Cost of Goods Sold	The cost/value of commodity sold as determined
		using physical or perpetual inventory system.

51000	Cost of Goods	This account refers to account used to record cost
	Sold	of finished goods sold under perpetual inventory
		system.

51110	Purchases	This account refers to cost of merchandise/goods
		bought whether paid or on account under periodic
		inventory system.

51120	Raw Material	This account refers to gross cost of materials
	Purchases	purchased for the production of food for sale, for
		catering and canteen operations (using periodic
		inventory system)

51130	Purchase	This account refers to deductions from invoice cost
	Returns &	due to damage, defects, or errors in the kind or
	Allowances	quality of goods bought.

51140	Purchase	This account refers to reductions in the cost of
	Discounts	product bought due to the early payment.

51160	Freight In	This account refers to the cost of transporting
		merchandise/goods from the place of purchase to
		storage area. Should form part of the Cost of Good
		Available for Sale.

51170	Direct Labor	This account refers to cost of labor directly
		attributed to the production of goods.

51180	Factory/	This account refers to all cost other than raw
	Processing	materials and direct labor used in the
	Overhead	production/manufacturing/process of goods
		including royalties and production garments.

51200	Inventory Loss	This account refers to reduction in inventory due to
		spoilage, breakage and variance between inventory
		per books and per count.

60000	Cost of Services	All costs incurred that are directly related to the
		generation of power, water and other services (A
		separate subsidiary shall be maintained)

61000	Project	This account refers to all costs incurred that are
	Management Cost	directly related to the projects and contract entered
		into by clients like manpower servicing,
		construction and other professional works,
		including consulting fee.

61110	Labor and	This account refers to amount incurred for
	Technical	technical and other services ancillary to the
	Supervision	generation of service income.

61210	Salaries & Wages	This account refers to amount incurred for services
		rendered by employees directly involved in
		providing services including overtime pay.

61230	Employees'	This account refers to benefits given to employees
	Benefits	directly involved in providing services other than
		salaries and wages such as but not limited to 13th
		month pay, bonus, allowances, and subsistence
		allowances including human resource
		development.

61240	SSS,	This account refers to the cooperative's share in the
	PhilHealth,	employees' contribution to SSS, PhilHealth and
	Pag-Ibig	Pag-Ibig.
	Contribution

61250	Retirement	The cost of providing retirement benefits to
	Benefit	employees directly involved in providing services.
	Expenses	The cost of retirement benefits is recognized as an
		expense in the periods during which the services
		are rendered.

61280	Professional and	This account refers to amount incurred for
	Consultancy	professional and consultancy services in relation to
	Fees	the generation of service income.

61370	Supplies	This account refers to expenses incurred for
		various supplies used for service activities.

61410	Power, Light	This account refers to the cost of electricity and
	and Water	water incurred in the generation of service income.

61430	Insurance	This account refers to expenses incurred to insure
		the equipment used in providing services.

61440	Repairs and	This account refers to expenses incurred in the
	Maintenance	repair and maintenance of machineries and
		equipment used in the delivery of service except
		major repairs that prolong the life of the asset.

61450	Rentals	This account refers to expenses incurred for the
		building/office spaces or facilities leased by the
		cooperative for the generation of service income.

61490	Gas, Oil &	This account refers to amounts incurred for
	Lubricants	gasoline, fuel and lubricants for cooperative's
		machineries and equipment used in the delivery of
		service.

61520	Miscellaneous	This account refers to all other expenses incurred
		by the cooperative not classified under any of the
		specified expenses account.

61530	Depreciation	This account refers to amount provided for wear
		and tear of building, machineries and equipment
		used in the delivery of service.

61540	Amortization	This account refers to amount provided for
		amortization of intangible assets.

62000	Generation Cost	Cost incurred in the generation of power, water
		and other utilities.

62120	Power Cost	This account refers to cost of power whether
		purchased or generated for distribution.

62130	Labor and	This account refers to amount incurred for
	Technical	technical and other services ancillary to the
	Supervision	generation of service income.

62210	Salaries & Wages	This account refers to amount incurred for services
		rendered by employees directly involved in
		providing services including overtime pay.

62230	Employees'	This account refers to benefits given to employees
	Benefits	directly involved in providing services other than
		salaries and wages such as but not limited to 13th
		month pay, bonus, allowances, and subsistence
		allowances including human resource
		development.

62240	SSS,	This account refers to the cooperative's share in the
	PhilHealth/ECC/	employees' contribution to SSS, PhilHealth and
	Pag-Ibig	Pag-Ibig.
	Contribution

62250	Retirement	This account refers to the cost of providing
	Benefit Expenses	retirement benefits to employees directly involved
		in providing services. The cost of retirement
		benefits is recognized as an expense in the periods
		during which the services are rendered.

62250	Miscellaneous	This account refers to all other expenses incurred
		by the cooperative not classified under any of the
		specified expenses account.

62280	Professional and	This account refers to amount incurred for
	Consultancy	professional and consultancy services in relation to
	Fees	the generation of service income.

62370	Supplies	This account refers to expenses incurred for
		various supplies used for service activities.

62410	Power, Light	This account refers to cost of electricity and water
	and Water	incurred in the generation of service income.

62430	Insurance	This account refers to expenses incurred to insure
		the equipment used in providing services.

62440	Repairs and	This account refers to expenses incurred in the
	Maintenance	repair and maintenance of machineries and
		equipment used in the delivery of service except
		major repairs that prolong the life of the asset.

62450	Rentals	This account refers to expenses incurred for the
		building/office spaces or facilities leased by the
		cooperative for the generation of service income.

62490	Gas, Oil &	This account refers to amounts incurred for
	Lubricants	gasoline, fuel and lubricants for cooperative's
		machineries and equipment used in the delivery of
		service.

62530	Depreciation	This account refers to amount provided for wear
		and tear of building, machineries and equipment
		used in the delivery of service.

62540	Amortization	This account refers to amount provided for
		amortization of intangible assets.

62590	Impairment Loss	This account refers to difference between the
		carrying value and the recoverable value of the
		assets directly used in the delivery of services.

63000	Distribution Cost	Cost incurred in the distribution of power, water
		and other services.

63120	Power Cost	This account refers to cost of power whether
		purchased or generated for distribution.

63130	Labor and	This account refers to amount incurred for
	Technical	technical and other services ancillary to the
	Supervision	generation of service income.

63210	Salaries & Wages	This account refers to amount incurred for services
		rendered by employees directly involved in
		providing services including overtime pay.

63230	Employees'	This account refers to benefits given to employees
	Benefits	directly involved in providing services other than
		salaries and wages such as but not limited to 13th
		month pay, bonus, allowances, and subsistence
		allowances including human resource
		development.

63240	SSS, PhilHealth,	This account refers to the cooperative's share in the
	ECC, Pag-Ibig	employees' contribution to SSS, ECC, PhilHealth
	Contribution	and Pag-Ibig.

63250	Retirement	This account refers to the cost of providing
	Benefit Expenses	retirement benefits to employees directly involved
		in providing services. The cost of retirement
		benefits is recognized as an expense in the periods
		during which the services are rendered.

63280	Professional and	This account refers to amount incurred for
	Consultancy Fees	professional and consultancy services in relation to
		the generation of service income.

63370	Supplies	This account refers to expenses incurred for
		various supplies used for service activities.

63390	Training/	This account refers to an amount incurred for
	Seminars	officers and staff directly involved in providing
		services for attending trainings and
		seminars/conducting seminars including expenses
		related thereto after exhausting the CETF.

63410	Power, Light	This account refers to cost of electricity and water
	and Water	incurred in the generation of service income.

63420	Travel and	This account refers to amount incurred for fares,
	Transportation	toll fees, board and lodging, per diem, and meal
		allowance of officers, employees directly involved
		in providing services while on official travel.

63430	Insurance	This account refers to expenses incurred to insure
		the equipment used in providing services including
		that of the employees who are directly involved in
		generating service income.

63440	Repairs and	This account refers to expenses incurred in the
	Maintenance	repair and maintenance of machineries and
		equipment used in the delivery of service except
		major repairs that prolong the life of the asset.

63450	Rentals	This account refers to expenses incurred for the
		building/office spaces or facilities leased by the
		cooperative for the generation of service income.

63470	Communication	This account refers to amount incurred for
		transmission of messages such as courier,
		telephone, e-mail, fax, internet, messengerial, and
		all other means of communication used in the
		delivery of service.

63490	Gas, Oil &	This account refers to amount incurred for
	Lubricants	gasoline, fuel and lubricants for cooperative's
		machineries and equipment used in the delivery of
		service.

63520	Miscellaneous	This account refers to all other expenses incurred
		by the cooperative not classified under any of the
		specified expenses account.

63530	Depreciation	This account refers to amount provided for wear
		and tear of building, machineries and equipment
		used in the delivery of service.

63540	Amortization	This account refers to amount provided for
		amortization of intangible assets.

63590	Impairment	This account refers to difference between the
	Loss	carrying value and the recoverable value of the
		assets directly used in the delivery of services.

64000	Transport	All costs incurred that are directly related to
	Service Cost	Service Income and Passenger's Fee. (A separate
		subsidiary shall be maintained)

64140	Driver's/	This account refers to cost incurred for payment to
	Conductor's	drivers (control mechanism will be developed to
	Fees	recognized actual gross receipts) subject to 10%
		withholding tax.

64150	Vehicle	This account refers to expenses incurred for
	Registration	licensing, registration, dropping, filing,
	and Licensing	supervision, accreditation fees, penalties and other
	Expenses	fees. (This account is used for cooperatively owned
		units only)

64160	Toll Fees	This account refers to amount paid for toll fees
		(SA).

64170	Incidental	This account refers to expenses incurred to cover
	Expenses	the cost of expenditures which are not anticipated/
		expected such as accidents not covered by
		insurance.

64430	Insurance	This account refers to expenses incurred to insure
		the equipment used in providing transport services.

64440	Repairs and	This account refers to expenses incurred in the
	Maintenance	repair and maintenance of transport facility and
		equipment except major repairs that prolong the
		life of the asset.

64490	Gas, Oil &	This account refers to amounts incurred for
	Lubricants	gasoline, fuel and lubricants for cooperative's
		vehicles and for day to day operation.

64530	Depreciation	This account refers to amount provided for wear
		and tear of property and equipment.

64580	Provision for	This account refers to amount set aside for
	Fortuitous	expenses related to unforeseen events/accidents
	Events and	based on historical experience which should not
	Accidents	exceed 10% of Management Fees.

70000	Expenses Gross outflows of economic resources and incurrence
	of obligations in the course of the ordinary activities of the cooperative
	when those outflows result in decreases in surplus.

71000	Financing Cost	Expenses related to borrowings of funds used for
		operations.

71100	Interest	This account refers to interest incurred on
	Expense on	borrowings.
	Borrowings

71200	Interest	This account refers to the interest incurred on
	Expense on	savings and time deposits of both regular &
	Deposits	associate members.

71300	Other	This account refers to service charges, filing fees
	Financing	and other fees for borrowings incurred by the
	Charges	cooperative.

72000	Selling/	Costs incurred in the promotion/distribution and
	Marketing Cost	selling of products and services of the
		cooperatives.

72180	Product/	This account refers to expenses incurred in the
	Service	marketing and promoting the coop. products and
	Marketing and	services (expenses related to pricing,
	Promotion	promotion, place packaging).
	Expenses

72190	Product/	This account refers to expenses incurred in the
	Service	development of coop. products and services
	Development	(expenses related to research and development)

72200	Product	This account refers to expenses incurred in the
	Research	enhancement of existing products.

72210	Salaries &	This account refers to amount incurred for services
	Wages	rendered by employees including overtime pay.

72220	Incentives and	This account refers to amount incurred for services
	Allowances	rendered by sales, part-time and on-call
		employees.

72230	Employees	This account refers to benefits given to employees
	Benefits	other than salaries and wages such as 13th month
		pay, bonus, allowances, termination or separation
		pay and others.

72240	SSS,	This account refers to the cooperative's share in the
	PhilHealth,	employees' premium contribution to SSS, ECC,
	ECC, Pag-Ibig	PhilHealth and Pag-Ibig.
	Premium
	Contribution

72250	Retirement	This account refers to the cost of providing
	Benefit	retirement benefits to employees for their services
	Expenses	rendered. The cost of retirement benefits is
		recognized as an expense in the periods during
		which the services are rendered.

72260	Commission	This account refers to amount paid to sales
	Expenses	personnel and others as incentives.

72270	Advertising &	This account refers to expenses incurred for
	Promotion	advertising and promotion of cooperatives'
		products.

72280	Professional Fees	This account refers to fees and related expenses
		incurred for professional services rendered.

72290	Royalties	This account refers to the amount provided to
		authors for the right to the reproduction of books
		and related items that is made available for sale.

72310	Store/Canteen/	This account refers to expenses incurred for
	Kitchen and	stationery and various supplies used in
	Catering	store/canteen/kitchen and catering for
	Supplies	selling/trading operations.
	Expenses

72320	Breakage &	This account refers to expenses incurred for lost or
	Losses on	breakage of kitchen/utensils after deducting
	Kitchen Utensils	accumulated depreciation.

72330	Freight	This account refers to amount incurred for the
	Out/Delivery	delivery of goods/services including traveling
	Expenses	expenses of sales personnel from the place of
		production/store to buyer including lubricants.

72340	Spoilage,	This account refers to expenses incurred for
	Breakage and	unavoidable decay, breakage, expiration or losses
	Losses	of goods beyond the normal condition.

72350	Storage/	This account refers to expenses incurred for
	Warehousing	temporary housing of merchandise/goods.
	Expenses

72410	Power, Light	This account refers to cost of electricity, water
	and Water	and/or gasoline/diesel, oil and lubricants used for
		generators which are incurred in business
		operations.

72420	Travel and	This account refers to amount incurred for fares,
	Transportation	gasoline and fuel for service vehicles borrowed or
		rented by the cooperative, toll fees, board and
		lodging, per diem and meal allowance of
		employees while on official travel.

72430	Insurance	This account refers to expenses incurred to insure
		the assets/properties/employees of the cooperative
		and the bonds of accountable officers and
		employees.

72440	Repairs and	This account refers to expenses incurred in the
	Maintenance	repair and maintenance of each facility and
		equipment except major repairs that do not prolong
		the life of the asset but increase capacity and safety
		measures.

72450	Rentals	This account refers to amount incurred for the
		lease or rental of the building/office space, the
		utilized portion of the rent paid in advance.

72460	Taxes, Fees	This account refers to amount incurred for the
	and Charges	lease or rental of the building/office space, the
		utilized portion of the rent paid in advance.

72470	Communication	This account refers to the amount incurred for
		courier (letters), telephone, cell phone, e-mail, fax,
		internet, messengerial, and all other means of
		communication.

72480	Representation	This account refers to expenses incurred related to
		accommodating visitors and guests on official
		business.

72490	Gas, Oil &	This account refers to amount incurred for
	Lubricants	gasoline, fuel and lubricants for service vehicles,
		delivery vans and others.

72520	Miscellaneous	This account refers to all other expenses incurred
	Expenses	by the cooperative not classified under any of the
		specified expenses account.

72530	Depreciation	This account refers to amount provided for wear
		and tear of property and equipment and
		amortization of intangible assets.

72540	Amortization	This account refers to amount provided for
		amortization of intangible assets.

72550	Amortization	This account refers to amount provided for
	of Leasehold	amortization of leasehold rights and improvements.
	Rights and
	Improvement

72660	Periodicals,	This account refers to amount incurred for
	Magazines &	subscription or purchase of periodicals, magazines
	Subscription	and others.

73000	Administrative	Expenses incurred related to general administration
	Cost	and management of the cooperative/enterprise.

73210	Salaries &	This account refers to amount incurred for services
	Wages	rendered by employees including overtime pay.

73230	Employees	This account refers to benefits given to employees
	Benefits	other than salaries and wages such as but not
		limited to 13th month pay, bonus, allowances, and
		subsistence allowances including human resource
		development.

73240	SSS, PhilHealth,	This account refers to the cooperative's share in the
	ECC, Pag-Ibig	employees' premium contributions to SSS, ECC,
	Premium	PhilHealth and Pag-Ibig.
	Contributions

73250	Retirement	This account refers to the cost of providing
	Benefit Expenses	retirement benefits to employees for their services
		rendered. The cost of retirement benefits is
		recognized as an expense in the periods during
		which the services are rendered.

73270	Officers'	This account refers to amount incurred for services
	Honorarium and	rendered by directors, committee members and
	Allowances	officers.

73300	Litigation	This account refers to expenses incurred in judicial
	Expenses	and quasi-judicial cases including incidental costs
		where the coop is the complainant or respondent as
		authorized by the BODs.

73360	School Program	This account refers to an amount allocated by the
	Support	cooperatives as support mechanism to school
		program such as school food supplementation of
		identified under-nourished cases and
		administration contingency fund, outreach program
		and school development, etc. (applicable to
		school-based cooperatives for canteen activity
		only)

73370	Office Supplies	This account refers to expenses incurred for office
		and various supplies used in the administration and
		conduct of business operation.

73380	Meetings and	This account refers to amount incurred for the
	Conferences	conduct of/attendance to meetings and
		conferences.

73390	Trainings/	This account refers to amount incurred for officers,
	Seminars	directors, employees and members, 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 recipient.

73410	Power, Light &	This account refers to cost of electricity and water
	Water	incurred in business operations.

73420	Travel &	This account refers to amount incurred for fares,
	Transportation	toll fees, board and lodging, per diem and meal
		allowance of officers and employees and members
		while on official travel.

73430	Insurance	This account refers to expenses incurred to insure
		the assets/properties of the cooperative, premium
		of insurance for officers and employees and bonds
		of accountable officers and employees.

73440	Repairs &	This account refers to expenses incurred in the
	Maintenance	repair and maintenance of each facility and
		equipment except major repairs that prolong the
		life of the asset.

73450	Rentals	This account refers to expenses incurred for
		building/office spaces or facilities leased by the
		cooperative.

73460	Taxes, Fees and	This account refers to expenses incurred for taxes,
	Charges	fees and charges due to government entities, both
		national and local.

73470	Communication	This account refers to amount incurred for courier
		(letters), telephone, cell phone, e-mail, fax,
		internet, messengerial, and all other means of
		communication.

73480	Representation	This account refers to expenses incurred related to
		accommodating visitors and guests on official
		business.

73490	Gas, Oil &	This account refers to amount incurred for
	Lubricants	gasoline, fuel and lubricants for cooperative's
		vehicles and for day to day operation.

73500	Collection	This account refers to amount, including
	Expense	commissions, incurred as incentives in effecting
		the collection of loans of the cooperative.

73510	General Support	This account refers to expenses incurred for
	Services	employing the services of security, janitors,
		messengers and other support services.

73520	Miscellaneous	This account refers to all other expenses incurred
	Expense	by the cooperative not classified under any of the
		specified expenses account.

73530	Depreciation	This account refers to allocation of cost over the
		estimated life of Property, Plant and Equipment.

73540	Amortization	This account refers to amount provided for
		amortization of intangible assets.

73550	Amortization of	This account refers to amount provided for
	Leasehold Rights	amortization of leasehold rights and improvements.
	and Improvement

73560	Provision for	This account refers to allocation or provision for
	Probable Losses	estimated losses arising from probable
	on Accounts/	uncollectible loans/accounts/installment
	Installment	receivables.
	Receivables

73570	Provision for	This account refers to the allocation
	Losses Others	or provision for estimated losses on investments.

73590	Impairment	This account refers to the difference between the
	Losses	carrying value and the recoverable value of an
		asset.
73600	Bank Charges	This account refers to bank fees and other charges
		excluding cost of checkbooks.

73610	General	This account refers to expenses incurred in the
	Assembly	conduct of regular/special general assembly.
	Expenses
73620	Members Benefit	This account refers to expenses incurred in
	Expenses	providing for additional members' benefits and
		social services.
73630	Affiliation Fee	This account refers to amount incurred to cover
		membership or registration fees and annual dues to
		a federation or union.
73640	Social &	This account refers to expenses incurred by the
	Community	cooperatives in its social community involvement
	Service Expense	including solicitations and donations to charitable
		institutions.
73650	Provision for	This account refers to amount set up at the option
	CGF (KBGF)	of the cooperative for the provision of CGF
		(KBGF).This is not part of the Statutory Fund.

80000	Other Items	Special transactions arising from the operations of
	Subsidy/Gain	the cooperatives.
	(Losses)

81000	Project Subsidy	This account refers to an amount deducted from
		Project Subsidy fund to subsidize project expenses.
		This shall appear in the statement of operation as a
		contra account to subsidized project expenses.

82000	Donation and	This account refers to an amount deducted from
	Grant Subsidy	Donation and Grant to subsidize depreciation
		charges on property and equipment funded by
		donation and grant.

83000	Optional Fund	This account refers to an amount deducted from
	Subsidy	Optional Fund to subsidize depreciation charge of
		property and equipment funded by Optional Fund.

84000	Subsidized	This account refers to portion of the Project
	Project	Subsidy Fund expended for training, salaries and
	Expenses	wages and other activities subsidized by donations
		and grants and optional fund.

85000	Gains or Losses	This account refers to gains or losses derived from
	on Sale of	the sale of acquired assets/properties and equipment.
	Property &
	Equipment

86000	Gains or Losses	This account refers to income earned or losses
	in Investment	incurred from the disposal of investments.

87000	Gains or Losses	This account refers to income earned or losses
	on Sale of	incurred from the sale of repossessed items.
	Repossessed Item

88000	Gains or Losses	This account refers to gains or Losses arising from
	from Foreign	retirement or conversion of foreign currency
	Exchange	exchange rate fluctuation per actual transaction
	Valuation

89000	Prior Years'	This account refers to adjustments on transactions
	Adjustment	affecting income and expenses incurred in the
		previous year(s) which are taken up on the current
		year.

V. Financial Reports with supporting schedules

For purposes of monitoring, supervising and regulating all types of cooperatives, the following basic financial reports and schedules (formats are shown in Annexes A-E) shall be prepared:

a) Statement of Financial Condition (Annex A)

b) Statement of Operations (Annex B)

c) Statement of Changes in Equity (Annex C)

d) Statement of Cash Flows (Annex D)

e) Notes to Financial Statement (Annex E)

f) Related Schedules such as:

Bank reconciliation Statement

Aging of Receivables using PAR

Property and equipment lapsing schedule

Members loans receivables, savings/time deposits, subscribed and paid-up share capital EcTDCI

Investments

Accounts payable

Loans payable

Allocation and Utilization of Statutory Funds

Distribution of Interest on Share Capital and Patronage Refund

For cooperatives with multi-business activities, separate financial reports shall be prepared for each type of activity.

VI. Sanctions

Cooperatives which fail to comply with this Circular shall be subject to the following sanctions:

First non-compliance, the Authority shall issue warning to concerned cooperatives;

Second non-compliance, certificate of good standing shall not be issued by the Authority;

Third non-compliance, the certificate of registration of cooperative shall be cancelled after compliance with due process of law.

VII. Transitory Provision

All Cooperatives shall within one (1) year from the effectivity of this Circular make the necessary adjustments on their existing systems in order to comply with the Standard Chart of Accounts. Provided however, that the aforecited sanctions under item VI shall not be imposed during the transition period.

VIII. Repeals

All circulars, regulations, issuances or parts thereof, inconsistent with any of the provisions of this Circular are hereby repealed or modified accordingly. HICATc

IX. Separability Clause

Should any part of this Circular be declared invalid or unconstitutional, the rest of the provisions not affected thereby shall continue in full force and effect.

X. Effectivity

This Circular shall be published in the Office of the National Administration Register (ONAR) and shall take effect fifteen (15) days after its publication.

Signed this 14th day of September, 2009 at Quezon City, Philippines.

CDA Board of Resolution No. 202, S-2009, August 14, 2009.

(SGD.) LECIRA V. JUAREZ

Chairperson

ANNEX A

PRO-FORMA FINANCIAL REPORTS

a) Statement of Financial Condition

Name of Cooperative
Address of Cooperative
Registration/Confirmation No.
Statement of Financial Condition
As of _________________

			Account Title		Current Year	Prior Year	Increase/
							(Decrease)

				Assets
Current Assets
	Cash and Cash Equivalents				_________	__________	_________
		Cash on Hand			_________	__________	_________
		Checks and Other Cash Items			_________	__________	_________
		Cash in Bank			_________	__________	_________
		Cash in Other Cooperatives			_________	__________	_________
		Petty Cash Fund			_________	__________	_________
		Revolving Fund			_________	__________	_________
		Change Fund			_________	__________	_________
	Investment at Fair Value Through Profit or Loss				_________	__________	_________
	Held-to-Maturity (HTM) Financial Assets				_________	__________	_________
		Add/Deduct: Unamortized Discount/
			Premium HTM		_________	__________	_________
	Available for Sale (AFS) Financial Assets				_________	__________	_________
		Add/Deduct: Accumulated
			Gains/Losses AFS		_________	__________	_________
		Less: Allowance for Probable
			Losses AFS		_________	__________	_________
	Unquoted Debt Securities Classified As Loans				_________	__________	_________
	Investment in Non-Marketable Equity
		Securities			_________	__________	_________
		Less: Allowance for Probable
			Losses INMES		_________	__________	_________
	Loans and Receivables				_________	__________	_________
		Loans Receivable			_________	__________	_________
		Current			_________	__________	_________
		Past Due			_________	__________	_________
		Restructured			_________	__________	_________
		In Litigation			_________	__________	_________
			Total		_________	__________	_________
		Less: Allowance for Probable Losses
			on Loans Receivable		_________	__________	_________
			Loans Receivable, Net		_________	__________	_________
	Accounts Receivable				_________	__________	_________
		Current			_________	__________	_________
		Past Due			_________	__________	_________
		Restructured			_________	__________	_________
		In Litigation			_________	__________	_________
			Total		_________	__________	_________
		Less: Allowance for Probable Losses on
			Accounts Receivable		_________	__________	_________
			Accounts Receivable, Net
	Installment Receivable				_________	__________	_________
		Current			_________	__________	_________
		Past Due			_________	__________	_________
		Restructured			_________	__________	_________
		In Litigation			_________	__________	_________
			Total		_________	__________	_________
		Less: Allowance for Probable Losses on
			Installment Receivable		_________	__________	_________
			Net Installment Receivables		_________	__________	_________
		Advances to Officers, Employees and
			Members		_________	__________	_________
		Receivables from Accountable Officers
			and Employees		_________	__________	_________
		Finance Lease Receivable			_________	__________	_________
		Other Current Receivables			_________	__________	_________
	Inventories				_________	__________	_________
		Merchandise Inventory			_________	__________	_________
		Spare Parts/Materials and Other Goods
			Inventory		_________	__________	_________
		Raw Materials Inventory			_________	__________	_________
		Work in Process Inventory			_________	__________	_________
		Finished Goods Inventory			_________	__________	_________
		Agricultural Produce			_________	__________	_________
		Equipment for Lease Inventory			_________	__________	_________
		Repossessed Inventory			_________	__________	_________
		Less: Allowance for the Decline in
			Value of Inventory		_________	__________	_________
	Biological Assets				_________	__________	_________
		Animals			_________	__________	_________
		Plants			_________	__________	_________
	Other Current Assets				_________	__________	_________
		Input Tax			_________	__________	_________
		Deposit to Suppliers			_________	__________	_________
		Unused Supplies			_________	__________	_________
		Prepaid Expenses			_________	__________	_________
		Total Current Assets			_________	__________	_________

Non-Current Assets
	Held-to-Maturity (HTM) Financial Assets				_________	__________	_________
		Add/Deduct: Unamortized Discount/
			Premium HTM		_________	__________	_________
	Available for Sale (AFS) Financial Assets				_________	__________	_________
		Add/Deduct: Accumulated Gains/
			Losses AFS		_________	__________	_________
		Less: Allowance for Probable
			Losses AFS		_________	__________	_________
	Unquoted Debt Securities Classified As Loans				_________	__________	_________
	Investment in Non-Marketable Equity
		Securities			_________	__________	_________
		Less: Allowance for Probable
			Losses INMES		_________	__________	_________
	Investment in Subsidiaries/Associates and
		Joint Ventures			_________	__________	_________
	Investment Property				_________	__________	_________
		Investment Property Land			_________	__________	_________
		Less: Accumulated Impairment			_________	__________	_________
				Net	_________	__________	_________
		Investment Property Building			_________	__________	_________
		Less: Accumulated Depreciation
			Investment		_________	__________	_________
				Property-Building	_________	__________	_________
				Net	_________	__________	_________
	Real and Other Properties Acquired (ROPA)				_________	__________	_________
		Less: Allowance for Probable
			Losses ROPA		_________	__________	_________
	Property & Equipment				_________	__________	_________
		Land			_________	__________	_________
		Less: Accumulated Impairment			_________	__________	_________
				Net	_________	__________	_________
		Land Improvements			_________	__________	_________
		Less: Accumulated
			Depreciation Land Improvement		_________	__________	_________
				Net	_________	__________	_________
		Building and Improvements			_________	__________	_________
		Less: Accumulated
			Depreciation Building & Imp.		_________	__________	_________
				Net	_________	__________	_________
		Building on Leased/Usufruct Land
		Less: Accumulated
			Depreciation Building on		_________	__________	_________
				Leased/Usufruct Land	_________	__________	_________
				Net	_________	__________	_________
		Utility Plant			_________	__________	_________
		Less: Accumulated
			Depreciation Utility Plant		_________	__________	_________
				Net	_________	__________	_________
		Construction in Progress			_________	__________	_________
		Furniture, Fixtures & Equipment			_________	__________	_________
		Less: Accumulated Depreciation FFE			_________	__________	_________
				Net	_________	__________	_________
		Machineries, Tools and Equipment			_________	__________	_________
		Less: Accumulated
			Depreciation Machineries,		_________	__________	_________
				Tools and Equipment	_________	__________	_________
				Net	_________	__________	_________
		Kitchen/Canteen/Catering Equipment and
			Utensils		_________	__________	_________
		Less: Accumulated
			Depreciation KCCEU		_________	__________	_________
				Net	_________	__________	_________
		Transportation Equipment			_________	__________	_________
		Less: Accumulated
			Depreciation Transportation E.		_________	__________	_________
				Net	_________	__________	_________
		Property, Plant and Equipment Under
		Finance Lease			_________	__________	_________
		Less: Accumulated
			Depreciation PPE Under		_________	__________	_________
				Finance Lease	_________	__________	_________
				Net	_________	__________	_________
		Leasehold Rights and Improvements/
			Concession Rights		_________	__________	_________
		Linens and Uniforms			_________	__________	_________
		Less: Accumulated Depreciation			_________	__________	_________
		Linens & Uniforms			_________	__________	_________
				Net	_________	__________	_________
		Nursery/Greenhouse			_________	__________	_________
		Less: Accumulated
			Depreciation Nursery/Greenhouse		_________	__________	_________
				Net	_________	__________	_________
		Total Property & Equipment			_________	__________	_________

	Biological Assets				_________	__________	_________
		Biological Assets Animals			_________	__________	_________
		Less: Accumulated
			Depreciation Animals		_________	__________	_________
				Net	_________	__________	_________
		Biological Assets Plants			_________	__________	_________
		Less: Accumulated
			Depreciation Plants		_________	__________	_________
				Net	_________	__________	_________
		Total Biological Assets			_________	__________	_________
	Intangible Assets				_________	__________	_________
		Franchise			_________	__________	_________
		Franchise Cost			_________	__________	_________
		Copyright			_________	__________	_________
		Patent			_________	__________	_________
		Total Intangible Assets			_________	__________	_________
	Other Non Current Assets				_________	__________	_________
		Cooperative Development Cost			_________	__________	_________
		Product/Business Development Cost			_________	__________	_________
		Computerization Cost			_________	__________	_________
		Other Funds and Deposits			_________	__________	_________
		Finance Lease Receivable Long Term			_________	__________	_________
		Due from HO/Branch/Subsidiary			_________	__________	_________
		Assets Held for Sale			_________	__________	_________
		Deposit on Returnable Container			_________	__________	_________
		Miscellaneous Assets			_________	__________	_________
		Total Non-Current Assets			_________	__________	_________
Total Assets

				Liabilities
Current Liabilities
	Savings Deposits				_________	__________	_________
	Time Deposits				_________	__________	_________
	Accounts Payable Trade				_________	__________	_________
	Accounts Payable Non-Trade				_________	__________	_________
	Loans Payable Current				_________	__________	_________
	Finance Lease Payable Current				_________	__________	_________
	Due to Regulatory Agencies				_________	__________	_________
	Cash Bond Payable				_________	__________	_________
	SSS/ECC/PhilHealth/Pag-Ibig Premiums
		Contributions Payable			_________	__________	_________
	SSS/Pag-Ibig Loans Payable				_________	__________	_________
	Withholding Tax Payable				_________	__________	_________
	VAT Payable				_________	__________	_________
	Unearned Income				_________	__________	_________
	Accrued Expenses				_________	__________	_________
	Interest on Share Capital Payable				_________	__________	_________
	Patronage Refund Payable				_________	__________	_________
	Due to CETF (Apex)				_________	__________	_________
	Deposit from Customers				_________	__________	_________
	Advances from Customers				_________	__________	_________
	School Program Support Fund Payable				_________	__________	_________
	Other Current Liabilities				_________	__________	_________
		Total Current Liabilities			_________	__________	_________

Non Current Liabilities					_________	__________	_________
	Loans Payable				_________	__________	_________
	Discounts on Loans Payable				_________	__________	_________
	Bonds Payable
		Add/Deduct: Unamortized Bond
			Discount/Premium		_________	__________	_________
	Revolving Capital Payable				_________	__________	_________
	Retirement Fund Payable				_________	__________	_________
	Finance Lease Payable Long Term				_________	__________	_________
	Other Non Current Liabilities				_________	__________	_________
		Deposit for Share Capital Subscription			_________	__________	_________
		Project Subsidy Fund			_________	__________	_________
		Members' Benefit Fund Payable			_________	__________	_________
		Due to HO/Branch/Subsidiary			_________	__________	_________
		Other Non Current Liabilities			_________	__________	_________
			Total Non-Current Liabilities		_________	__________	_________
Total Liabilities					_________	__________	_________

				Equity
Members' Equity
	Common Share Capital-Authorized				_________	__________	_________
	Share Capital- ____ Shares @ P___ par value				_________	__________	_________
	Less: Issued Share Capital Common				_________	__________	_________
	Issued Share Capital Common				_________	__________	_________

	Subscribed Share Capital Common				_________	__________	_________
	Less: Subscription Receivable Common				_________	__________	_________
		Total Paid-up Share Capital Common			_________	__________	_________
	Less: Treasury Share Capital Common				_________	__________	_________
	Paid-up Share Capital Common				_________	__________	_________

	Preferred Share Capital Authorized				_________	__________	_________
	Share Capital- ____ Shares @ P__ par value				_________	__________	_________
	Less: Issued Share Capital Preferred				_________	__________	_________
	Issued Share Capital Preferred				_________	__________	_________
	Subscribed Share Capital Preferred				_________	__________	_________
	Less: Subscription Receivable Preferred				_________	__________	_________
		Total Paid-up Share Capital Preferred			_________	__________	_________
	Less: Treasury Share Capital Preferred				_________	__________	_________
	Paid-up Share Capital Preferred				_________	__________	_________

	Donations/Grants				_________	__________	_________

	Statutory Funds				_________	__________	_________
		Reserve Fund			_________	__________	_________
		Coop. Education & Training Fund			_________	__________	_________
		Optional Fund			_________	__________	_________
		Community Development Fund			_________	__________	_________
	Unrealized Gains/(Losses)				_________	__________	_________
		Total Equity			_________	__________	_________

Total Liabilities & Equity
*	Used for Interim Financial Reports

ANNEX B

ABC Development Cooperative

xxx Town, Province

Statements of Operations

For the years ended December 31, _____ and ___

(Amounts in Philippine Pesos)

		Account Title		Current Year	Prior Year

Revenues (Schedule 1)
	Income from Credit Operations			__________	__________
	Income from Consumer Operations			__________	__________
	Income from Service Operations			__________	__________
	Income from Production Operations			__________	__________
	Income from Marketing Operations			__________	__________
	Other Income			__________	__________
		Income/Interest from Investments		__________	__________
		Membership Fees		__________	__________
		Interest Income from Lease Agreements		__________	__________
		Commission Income		__________	__________
		Fines, Penalties & Surcharges		__________	__________
		Miscellaneous Income		__________	__________

Total Revenues				__________	__________

Less Expenses (Schedule 3)
	Financing Cost			__________	__________
	Selling/Marketing Cost			__________	__________
	Administrative Cost			__________	__________
	Democratic Governance Cost			__________	__________

Net Surplus before Other Items
	Add: Other Items:			__________	__________
	Project Subsidy			__________	__________
	Donation and Grant Subsidy			__________	__________
	Gain on Sale of Property and Equipment			__________	__________
	Gain in Investment			__________	__________
	Gain on Sale of Repossessed Item			__________	__________
	Gain from Foreign Exchange Transaction			__________	__________
	Prior Year Adjustments			__________	__________
		Total		__________	__________
		Less:		__________	__________
			Subsidized Expenses	__________	__________
			Loss on Sale of Property and Equipment	__________	__________
			Loss on Investment	__________	__________
			Loss on Sale of Repossessed Item	__________	__________
			Loss from Foreign Exchange Valuation	__________	__________
			Prior Year Adjustments	__________	__________
			Total	__________	__________
Net Surplus (For Allocation)

Schedule 1

Schedule of Gross Revenues

		Current	Prior
	Account Titles	Year	Years
Income from Credit Operations
	Interest Income from Loans	xxx	xxx
	Service Fees	xxx	xxx
	Filing Fees	xxx	xxx
	Fines, Penalties, Surcharges	xxx	xxx

	Total Income from Credit Operations	xxx	xxx
		===	===

							Current	Prior
	Account Titles		Consumers	Installment	Catering	Canteen	Year	Years

Income from Consumers/Catering
Operations								Total
Sales			xxx	xxx	xxx	xxx	xxx	xxx
	Less: Sales Returns &
		Allowances	xxx	xxx	xxx	xxx	xxx	xxx
		Sales Discounts	xxx	xxx	xxx	xxx	xxx	xxx
	Net Sales		xxx	xxx	xxx	xxx	xxx	xxx
Less: Cost of Sales
	Inventory, beginning		xxx	xxx	-	-	xxx	xxx
	Purchases (net)		xxx	xxx	xxx		xxx	xxx
		Freight-In	xxx	xxx	xxx		xxx	xxx
	Total Purchases		xxx	xxx	xxx		xxx	xxx
	Add: Production Cost
		Direct Materials			xxx	xxx
		Direct Labor			xxx	xxx	xxx	xxx
		Factory/Processing
		Overhead			xxx	xxx	xxx	xxx
		Total Production Cost			xxx	xxx	xxx	xxx
	Total Goods Available for Sale		xxx	xxx	xxx	xxx	xxx	xxx
	Less: Inventory, end		xxx	xxx			xxx	xxx
	Cost of Sales		xxx	xxx	xxx	xxx	xxx	xxx

Gross Revenues from Consumers Operations							xxx	xxx
							====	====

							Current	Prior
	Account Titles						Year	Years
Income from Service Operations
Revenues
	Service Income						xxx	xxx
	Interest Income from Lease Agreement						xxx	xxx
	Total Revenues						xxx	xxx
Less: Cost of Services (Schedule 2)
	Project Management Cost						xxx	xxx
	Generation Cost						xxx	xxx
	Distribution Cost						xxx	xxx
	Transport Service Cost						xxx	xxx
	Total Cost of Services						xxx	xxx

Gross Revenues from Services							xxx	xxx
							====	====

							Current	Prior
	Account Titles						Year	Years
Income from Production Operations
Sales							xxx	xxx
	Less: Sales Returns & Allowances						xxx	xxx
		Sales Discounts					xxx	xxx
	Net Sales
Less: Cost of Good Sold
	Raw Materials Inventory, beginning						xxx	xxx
	Add: Raw Material Purchases						xxx	xxx
		Freight-In					xxx	xxx
	Total Purchases						xxx	xxx
	Less: Purchase Returns and Allowances						xxx	xxx
		Purchase Discounts					xxx	xxx
	Net Purchases						xxx	xxx
	Less Raw Materials, End						xxx	xxx
	Cost of Raw Materials Used						xxx	xxx
	Direct Labor						xxx	xxx
	Factory Overhead						xxx	xxx
	Total Cost of Goods to be Manufactured						xxx	xxx
	Add Work in Process, Beg.						xxx	xxx
	Less: Work in Process, End						xxx	xxx
	Total Cost of Goods Manufactured						xxx	xxx
	Add: Finished Goods, Beg.						xxx	xxx
	Less: Finished Goods, End						xxx	xxx
	Total Cost of Goods Sold						xxx	xxx
	Add Inventory Loss						xxx	xxx
	Adjusted Cost of Good Sold						xxx	xxx
	Total Cost of Goods Sold						xxx	xxx

Gross Revenues from Production Operations							xxx	xxx
							====	====
Income from Marketing Operations

Sales							xxx	xxx
	Less: Sales Returns & Allowances						xxx	xxx
		Sales Discounts					xxx	xxx
	Net Sales						xxx	xxx
Less: Cost of Sales
	Inventory, beginning						xxx	xxx
	Purchases (net)						xxx	xxx
		Freight-In					xxx	xxx
	Total Goods Available for Sale						xxx	xxx
	Less: Inventory, end						xxx	xxx
	Cost of Sales						xxx	xxx

Gross Revenues from Marketing Operations							xxx	xxx
							====	====

Schedule 2

Schedule of Cost of Services

Schedule of Cost of Services
		Accounts	Current	Previous	Increase/
			Year	Year	Decrease
Cost of Services
	Project Management Cost		xxx	xxx	xxx
		Labor and Technical Supervision	xxx	xxx	xxx
		Salaries & Wages	xxx	xxx	xxx
		Employees' Benefits	xxx	xxx	xxx
		Retirement Benefit Expenses	xxx	xxx	xxx
		Insurance	xxx	xxx	xxx
		SSS, PhilHealth, Pag-Ibig Contribution	xxx	xxx	xxx
		Supplies	xxx	xxx	xxx
		Professional and Consultancy Fees	xxx	xxx	xxx
		Power, Light and Water	xxx	xxx	xxx
		Rentals	xxx	xxx	xxx
		Repairs and Maintenance	xxx	xxx	xxx
		Gas, Oil & Lubricants	xxx	xxx	xxx
		Depreciation	xxx	xxx	xxx
		Amortization	xxx	xxx	xxx
		Impairment Loss	xxx	xxx	xxx
		Miscellaneous	xxx	xxx	xxx

	Generation Cost
		Power Cost	xxx	xxx	xxx
		Labor and Technical Supervision	xxx	xxx	xxx
		Salaries & Wages	xxx	xxx	xxx
		Employees' Benefits	xxx	xxx	xxx
		Retirement Benefit Expenses	xxx	xxx	xxx
		Insurance	xxx	xxx	xxx
		SSS, PhilHealth/ECC/Pag-Ibig Contribution	xxx	xxx	xxx
		Supplies	xxx	xxx	xxx
		Professional and Consultancy Fees	xxx	xxx	xxx
		Power, Light and Water	xxx	xxx	xxx
		Rentals	xxx	xxx	xxx
		Repairs and Maintenance	xxx	xxx	xxx
		Gas, Oil & Lubricants	xxx	xxx	xxx
		Depreciation	xxx	xxx	xxx
		Amortization	xxx	xxx	xxx
		Impairment Loss	xxx	xxx	xxx
		Miscellaneous	xxx	xxx	xxx

	Distribution Cost
		Power Cost	xxx	xxx	xxx
		Labor and Technical Supervision	xxx	xxx	xxx
		Salaries & Wages	xxx	xxx	xxx
		Employees' Benefits	xxx	xxx	xxx
		Retirement Benefit Expenses	xxx	xxx	xxx
		Insurance	xxx	xxx	xxx
		SSS, PhilHealth, ECC, Pag-Ibig Contribution	xxx	xxx	xxx
		Supplies	xxx	xxx	xxx
		Professional and Consultancy Fees	xxx	xxx	xxx
		Power, Light and Water	xxx	xxx	xxx
		Travel and Transportation	xxx	xxx	xxx
		Rentals	xxx	xxx	xxx
		Communication	xxx	xxx	xxx
		Repairs and Maintenance	xxx	xxx	xxx
		Training/Seminars	xxx	xxx	xxx
		Gas, Oil & Lubricants	xxx	xxx	xxx
		Depreciation	xxx	xxx	xxx
		Amortization	xxx	xxx	xxx
		Impairment Loss	xxx	xxx	xxx
		Miscellaneous	xxx	xxx	xxx

	Transport Services Cost
		Insurance	xxx	xxx	xxx
		Gas, Oil & Lubricants	xxx	xxx	xxx
		Depreciation	xxx	xxx	xxx
		Driver's/Conductor's Fees	xxx	xxx	xxx
		Toll Fees	xxx	xxx	xxx
		Vehicle Registration and Licensing Expenses	xxx	xxx	xxx
		Repairs and Maintenance	xxx	xxx	xxx
		Incidental Expenses	xxx	xxx	xxx
		Provision for Fortuitous Events and Accidents	xxx	xxx	xxx

Schedule 3

Schedule of Operating Expenses:

	Accounts		Credit	Consumers	Service	Marketing	Producers	Grand
								Total
A.	Financing Costs
	Interest Expense on Borrowings		xxx	xxx	xxx	xxx	xxx	xxx
	Interest Expense on Deposit		xxx	xxx	xxx	xxx	xxx	xxx
	Other Financing Charges		xxx	xxx	xxx	xxx	xxx	xxx
	Total		xxx	xxx	xxx	xxx	xxx	xxx

B.	Selling/Marketing Costs
	Product/Service Marketing and
		Promotion Expenses	xxx	xxx	xxx	xxx	xxx	xxx
	Product/Service Development		xxx	xxx	xxx	xxx	xxx	xxx
	Product Research		xxx	xxx	xxx	xxx	xxx	xxx
	Salaries and Wages		xxx	xxx	xxx	xxx	xxx	xxx
	Incentives and Allowances		xxx	xxx	xxx	xxx	xxx	xxx
	Employees Benefits		xxx	xxx	xxx	xxx	xxx	xxx
	SSS, PhilHealth, ECC, Pag-ibig
		Premium Contribution	xxx	xxx	xxx	xxx	xxx	xxx
	Retirement Benefit Expense		xxx	xxx	xxx	xxx	xxx	xxx
	Store/Canteen/Kitchen and
		Catering Supplies	xxx	xxx	xxx	xxx	xxx	xxx
	Freight Out/Delivery Expenses		xxx	xxx	xxx	xxx	xxx	xxx
	Power, Light and Water		xxx	xxx	xxx	xxx	xxx	xxx
	Travel and Transportation		xxx	xxx	xxx	xxx	xxx	xxx
	Insurance		xxx	xxx	xxx	xxx	xxx	xxx
	Repairs and Maintenance		xxx	xxx	xxx	xxx	xxx	xxx
	Rentals		xxx	xxx	xxx	xxx	xxx	xxx
	Taxes, Fees and Charges		xxx	xxx	xxx	xxx	xxx	xxx
	Communications		xxx	xxx	xxx	xxx	xxx	xxx
	Representation		xxx	xxx	xxx	xxx	xxx	xxx
	Advertising and Promotion		xxx	xxx	xxx	xxx	xxx	xxx
	Gas, Oil and Lubricants		xxx	xxx	xxx	xxx	xxx	xxx
	Spoilage, Breakage and Losses		xxx	xxx	xxx	xxx	xxx	xxx
	Storage/Warehousing Expenses		xxx	xxx	xxx	xxx	xxx	xxx
	Commission Expenses		xxx	xxx	xxx	xxx	xxx	xxx
	Breakage & Losses on Kitchen
		Utensils	xxx	xxx	xxx	xxx	xxx	xxx
	Miscellaneous Expense		xxx	xxx	xxx	xxx	xxx	xxx
	Depreciation		xxx	xxx	xxx	xxx	xxx	xxx
	Amortization		xxx	xxx	xxx	xxx	xxx	xxx
	Royalties		xxx	xxx	xxx	xxx	xxx	xxx
	Amortization of Leasehold Rights
		and Improvement	xxx	xxx	xxx	xxx	xxx	xxx
	Total		xxx	xxx	xxx	xxx	xxx	xxx

C.	Administrative Cost		xxx	xxx	xxx	xxx	xxx	xxx
	Salaries and Wages		xxx	xxx	xxx	xxx	xxx	xxx
	Employees Benefits		xxx	xxx	xxx	xxx	xxx	xxx
	SSS, PhilHealth, ECC, Pag-ibig
		Contribution	xxx	xxx	xxx	xxx	xxx	xxx
	Retirement Benefit Expense		xxx	xxx	xxx	xxx	xxx	xxx
	Officers' Honorarium and
		Allowances	xxx	xxx	xxx	xxx	xxx	xxx
	Trainings/Seminars		xxx	xxx	xxx	xxx	xxx	xxx
	School Program Support		xxx	xxx	xxx	xxx	xxx	xxx
	Office Supplies		xxx	xxx	xxx	xxx	xxx	xxx
	Power, Light and Water		xxx	xxx	xxx	xxx	xxx	xxx
	Travel and Transportation		xxx	xxx	xxx	xxx	xxx	xxx
	Insurance		xxx	xxx	xxx	xxx	xxx	xxx
	Repairs and Maintenance		xxx	xxx	xxx	xxx	xxx	xxx
	Rentals		xxx	xxx	xxx	xxx	xxx	xxx
	Taxes, Fees and Charges		xxx	xxx	xxx	xxx	xxx	xxx
	Professional Fees		xxx	xxx	xxx	xxx	xxx	xxx
	Communications		xxx	xxx	xxx	xxx	xxx	xxx
	Representation		xxx	xxx	xxx	xxx	xxx	xxx
	Meeting and Conferences		xxx	xxx	xxx	xxx	xxx	xxx
	Bank Charges		xxx	xxx	xxx	xxx	xxx	xxx
	Collection Expense		xxx	xxx	xxx	xxx	xxx	xxx
	Periodicals, Magazines and
		Subscription	xxx	xxx	xxx	xxx	xxx	xxx
	General Support Services		xxx	xxx	xxx	xxx	xxx	xxx
	Gas, Oil and Lubricants		xxx	xxx	xxx	xxx	xxx	xxx
	Litigation Expenses		xxx	xxx	xxx	xxx	xxx	xxx
	Miscellaneous Expense		xxx	xxx	xxx	xxx	xxx	xxx
	Depreciation		xxx	xxx	xxx	xxx	xxx	xxx
	Amortization		xxx	xxx	xxx	xxx	xxx	xxx
	Provision for Probable Losses
		on Accounts/Installment
		Receivables	xxx	xxx	xxx	xxx	xxx	xxx
	Amortization of Leasehold
		Rights and Improvement	xxx	xxx	xxx	xxx	xxx	xxx
	General Assembly Expenses							xxx
	Members' Benefit Expense							xxx
	Affiliation Fee							xxx
	Social and Community Service
		Expense						xxx
	Provision for Members' Future
		Benefits						xxx
	Total							xxx

ANNEX C

Pro-Forma Financial Reports DSATCI

D. Statement of Changes in Member's Equity
Donations, Grants and Statutory Funds

Name of Cooperative

Address of the Cooperative

Registration/Confirmation No.

Statement of Changes in Equity, Statutory Funds and Grants and Donations

For the Year Ended, December 31, 200__

Equity
Share Capital, Common, Beginning		XXXX
Add: Additional Capital Build-up		XXXX
Total		XXXX
Less: Withdrawal in Capital		(XXXX)
Share Capital, Common, End		XXXX
Share Capital, Preferred, Beginning		XXXX
Add: Additional Capital Build-up		XXXX
Total		XXXX
Less: Withdrawal in Capital		(XXXX)
Share Capital, Preferred, End		XXXX
Reserve Fund
Balance, December 31, 200__		XXXX
Add: Credits		XXXX
	10% Net Surplus from Operations	XXXX
Total		XXXX
Less: Charges		(XXXX)
Total Charges		(XXXX)
Balance, December 31, 200___		XXXX
Cooperative Education and Training Fund
Balance, December 31, 200___		XXXX
Add: Credits		(XXXX)
	1/2 of 10% Net Surplus from Operations	XXXX
Total		XXXX
Less: Charges		XXXX
Total Charges		(XXXX)
Balance, December 31, 200__		XXXX
Optional Fund
Balance, December 31, 200___		XXXX
Add: Credits		XXXX
	10% Net Surplus from Operations	XXXX
Total		XXXX
Less: Charges		(XXXX)
Total Charges		(XXXX)
Balance, December 31, 200___		XXXX
Due to Union/Federation
Balance, December 31, 200___		XXXX
Add: Credits		XXXX
	1/2 of 10% Net Surplus from Operations	XXXX
Total		XXXX
Less: Charges
	Remittances to Union/Federation	(XXXX)
Total Charges		(XXXX)
Balance, December 31, 200__		XXXX

ANNEX D

Cash Flows Statement

Name of Cooperative

Address of the Cooperative

Registration/Confirmation No.

Cash Flows Statement

For the Year Ended, December ______

Cash flow from Operating Activities:
Cash provided by operation:
	Net surplus for allocation				XXX
	Depreciation/Amortization			XXX
	Provision for Probable Losses on Accounts/Installment
		Receivables		XXX
	Changes in Assets and Liabilities			XXX
	(Increase)/Decrease in:
		Advances to Officers & Employees		XXX
		Accounts Receivable Trade		(XXX)
		Installment Receivable		XXX
		Receivable from accountable officers & employees		XXX
		Other Receivables		XXX
		Input tax		XXX
		Deposits to suppliers		XXX
		Inventories		XXX
		Repossessed Inventories		XXX
		Assets held for sale		XXX
		Unused office/store/kitchen/canteen/catering
			supplies	(XXX)
		Prepaid exspenses		(XXX)
		Intangible assets		XXX
		Other assets		XXX
	Increase/(Decrease) in:
		Accounts payable		(XXX)
		SSS/ECC/PhilHealth/Pag-Ibig Premium Contribution
			payable	XXX
		SSS/Pag-ibig Loans payable		XXX
		Withholding tax payable		XXX
		Accrued expenses		XXX
		Due to CETF (Apex)		XXX
		Taxes, fees and charges payable		XXX
		Output tax		XXX
		Deposits from customers		XXX
		Deferred gross margin		XXX
		School Program Support Fund payable		XXX
		Other payables		XXX	XXX
Net cash from operating activities					XXX

Cash flow from investing activities:
	(Increase)/Decrease in:
		Property & Equipment		XXX
		Investment		XXX
Net cash from investing activities					XXX
Cash flow from financing activities:
	(Increase)/Decrease in:
		Savings deposit		XXX
		Time deposit		XXX
		Paid-up Share Capital		XXX
		Donations/Grants		XXX
		Statutory funds		XXX
		Long term liabilities		XXX
		Other liabilities		XXX
		Interest on share capital & patronage refund		XXX	XXX
Net cash from financing activities					XXX
Net increase/(decrease) in cash					XXX
Cash balance, beginning					XXX
Cash balance, end					XXX

(The above statement is presented using Indirect Method Approach).

ABC Development Cooperative

xxx Town, Province

Notes to Financial Statements

As of December 31, _______

(Amounts in Philippine Pesos)

1. GENERAL INFORMATION

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. MANAGEMENT'S SIGNIFICANT ACCOUNTING JUDGEMENT AND ESTIMATES

3.1 Judgments

3.2 Estimates

4. Financial Risk Management Objectives and Policies

4.1 Credit Risk

4.2 Liquidity risks

4.3 Other Price Risk Sensitivity

5. Cash & Cash Equivalent DaHcAS

6. Notes on financial assets describe composition, description, etc.

7. Loans & Receivables

7.1 Loans Receivables, Net

7.2 Trade and Other Receivables

8. Inventory

9. Biological Assets

10. Other Current Assets

11. Breakdown of Non-Current Financial Assets

12. Investment Property

13. Property and Equipment

14. Intangible Assets

15. Other Funds and Deposits

16. Other Non-Current Assets

17. Deposit Liabilities

18. Trade, Non-Trade and Other Payables

19. Due to Union/Federation

20. Other Current Liabilities

21. Loans Payable

22. Bonds Payable

23. Revolving Capital Payable

24. Retirement Fund Payable

25. Finance Lease Payable aEcADH

26. Other Non-Current Liabilities

27. Deposit on Future Share Subscriptions

28. Donations/Grants

29. Statutory Funds

30. Unrealized Gains/Losses

31. Income from Credit Operations

32. Income from Consumer Store Operations

33. Income from Service Operations

34. Income from Production Operations

35. Income from Marketing Operations

36. Other Income

37. Expenses

38. Allocation & Distribution of Net Surplus

39. Cooperative Guarantee Fund

40. Employee Benefits

41. Increase in Capital Stock

42. Related Party Transactions

43. Events After Balance Sheet Date

44. Commitments & Contingencies

45. Capital Management Objectives, Policies and Procedures ESTDIA