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Asset Accounts
 Current Assets
 Cash & Cash Equivalents
 Cash on hand

 Checks & Other Cash Items (COCI)

 Cash in Bank

 Cash in Cooperative Federations

Current Assets
Petty Cash Fund
Revolving Fund
Change Fund
Investments at Fair Value through
Profit or Loss
 Held to maturity (HTM) Financial Assets
 Unamortized Discount Premium – HTM
 Available for Sale (AFS) Financial Assets
 Accumulated Gains/Losses-AFS
 Allowance for Probable Losses – AFS FA
Investment in Non-Marketable
Equity Securities (INMES)
Allowance for Probable Losses –
Loans and Receivables
 Loans Receivable – Current
 Loans Receivable – Past Due
 Loans Receivable – Restructured
 Loans Receivable – Loans in Litigation
 Unearned Interest and Discounts
 Allowance for Probable Losses on Loans
 Accounts Receivables Trade - Current
 Accounts Receivables Trade - Past Due
 Accounts Receivable Trade – Restructured
 Accounts Receivable – in Litigation
 Allowance for Probable Losses on AR Trade
 Installment Receivable –Current
 Installment Receivable – Past Due
 Installment Receivable – Restructured
 Installment Receivable – in Litigation
 Allowance for Probable Losses on
Installment Receivables
 Unrealized Gross Margin
 Sales Contract Receivable
 Allowance for Probable Losses-Sales
Contract Receivables
 Advances to Officers, Employees and
 Due from Accountable Officers and
 Advances to Officers, Employees and Members
 Due from Accountable Officers and Employees
 Finance Lease Receivable
 Other Current Receivables
 Merchandise Inventory
 Repossessed Inventories
 Spare Parts/materials & Other Goods
 Raw Materials Inventory
 Work in Process Inventory
 Finished Goods Inventory
 Agricultural Produce
 Equipment for Lease Inventory
 Allowance for the Decline in Value of
 Biological Assets
Other Current Assets
 Other Current Assets
 Input Tax
 Deposit to Suppliers
 Unused Supplies
 Prepaid Expenses
 Held-to-Maturity (HTM) Financial Assets
 Un-amortized Discount/Premium HTM
 Allowance for Probable Losses-HTM
 Available for Sale (AFS) Financial Assets
 Accumulated Gains/Losses –AFS
 Allowance for Probable Losses – AFS FA
 Unquoted Debt Securities Classified as Loans
 Investment in Non-Marketable Equity Securities
 Allowance for Probable Losses – INMES
 Investment in Subsidiaries/Associates and Joint
 Investment Property
 Investment Property – Land
 Investment Property –Building
 Accumulated Depreciation & Impairment –
Investment Prop-Bldg
Real and Other Properties
Acquired (ROPA)
Allowance for Probable Losses-
 Land
 Accumulated Impairment Loss
 Land Improvements
 Accumulated Dep’n –Land Improvement
 Building Improvements
 Accumulated Dep’n-Building & Improvements
 Building on Lease/Usufruct Land
P, P, E
 Accumulated Depreciation-Building on
 Utility Plant
 Accumulated Depreciation – Utility Plant
 Property, Plant & Equipment-Under Finance Lease
 Accumulated Depreciation –PPE Under Finance Lease
 Construction in Progress
P, P, E
 Furniture, Fixtures & Equipment (FFE)
 Accumulated Dep’n – FFE
 Machineries, Tools & Equipment
 Accumulated Dep’n – Machineries,
Tools & Equipment
 Accumulated Dep’n - Kitchen, Canteen &
Catering Equipment/utensils
 Transportation Equipment
 Accumulated Dep’n – Transportation
 Lines & Uniforms
 Accumulated Dep’n – Linen and Uniforms
 Nursery/ Greenhouses
 Accumulated Dep’n – Nursery/Greenhouse
 Leasehold Rights & Improvements
 Biological Assets- Plants
 Accumulated depn- Biological Assets
 Intangible Assets
 Franchise
P,P, E
 Franchise Cost
 Copyright
 Patent
 Cooperative Development Cost
 Product/Business Development Cost
 Computerization Cost
 Other Funds and Deposits
 Finance Lease Receivable
 Due from Head Office/ Branch/
 Assets Held for Sale
 Deposit on Returnable Containers
 Miscellaneous Assets
 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 premium Contributions
 SSS/Pag-ibig Loans Payable
 Witholding Tax Payable
 Output Tax
 VAT Payable
 Accrued Expenses
 Interest on LIABILITIES
Share Capital Payable
 Patronage Refund Payable
 Due to Union/Federation (CETF)
 Deposit from Customers
 Advances from Customers
 School Program Support Fund Payable
 Other Current Liabilities
 Loans Payable
 Discount on Loans Payable
 Bonds Payable
 Unamortized Bond Discount/Premium
 Revolving Capital Payable
 Retirement Fund Payable
 Finance Lease Payable – Long Term

 Project Subsidy Fund

 Members’ Benefit and Other Funds
 Due to Head Office/Branch/Subsidiary
 Other Non-Current Liabilities
 Authorized share Capital – Common
 Unissued Share Capital – Common
 Subscribed Share Capital –Common
 Subscription Receivable – Common
 Paid-up Share Capital –common
 Treasury Shares Capital –Common
 Authorized Share Capital – Common
 Authorized Share Capital – Preferred
 Subscribed Share Capital – Preferred
 Subscription Receivable – Preferred
 Paid up share capital – preferred
 Treasury share capital – preferred
 Deposit for Share Capital subscription
 Undivided Net Surplus (not yet
 Net Loss
 Donations / Grants

 Reserve Fund (15% of the NS)

 Coop. Education & Fund (5%)
 Community Development Fund
( 3% of the NS)
 Optional Fund ( 7% of the NS)
 Unrealized Gains/Losses

 Interest Income from Loans

 Service fees
 Filing Fees
 Fines, Penalties, Surcharges

 Income/Interest from Investment Deposit

 Membership fee
 Commission income
 Realized Gross Margin
 Miscellaneous income
 Interest Expense on Borrowing – Interest
incurred in borrowings
 Interest Expense on Deposits – savings &
time deposits of both regular & associate
 Other Financing Charges – service
charges, filing fees and other fees for
borrowings by the coop
 Marketing & Promotion Expenses - expenses
incurred in the mktg & promotion of coop
products & services
 Product Service Development – development of
products & services
 Product Research – incurred in the enhancement
of existing products
 Salaries & Wages – services rendered by employees
including overtime pay
 Incentives & Allowances – services rendered by
sales, part-time and on-call employees
 Employees Benefits – benefits given to
employees other than salaries and wages
such as 13th month pay, bonus, allowances,
termination or separation pay & other
termination pay
 SSS, Philhealth ECC, Pag-ibig Premium
Contribution – Cooperative’s share in the
employees premium contributions to SSS,
ECC, Philhealth & Pag-ibig
 Retirement Benefit Expense – cost of providing
retirement benefits is recognized as an expense in the
periods during which the services are rendered
 Commission Expense – paid sales personnel and other
as incentives
 Advertising & Promotion – Refers and related
expenses incurred for professional services rendered
 Professional Fees – refers fees and related expenses
incurres in prof services
 Royalties – amount provided to authors for the right to
the reproduction of books and related items that is
made available for sale
 Store/Canteen/Kitchen and Catering Supplies expense
– stationery & supplies used in store/canteen/kitchen
and catering
 Breakage & Lossess on Kitchen Utensils – exp incurred
for lost or breakage of kitchen
 Freight Out/ Delivery Exp – amount incurred for the
delivery of goods/services including travelling exp of
sales personnel from the place of prodn
 Spoilage, Breakage & Losses – expenses incurred for
unavoidable decay, breakage of goods beyong normal
 Storage/warehousing Expenses – incurred for
temporary housing of merchandise/goods
 Power, Light & water –cost of electricity, water or
gasoline, oil and lubricants used for generator
incurred in the business operation
 Travel & transportation – fares, gasoline and fuel
for service vehicles borrowed or rented by the
coop, toll fees, board & lodging, per diem and meal
allow of employee while on official travel
 Insurance – exp. incurred to insure the
assets/properties/employees of the cooperative
and the bonds of accountable officer & employees
 Repairs & maintenance – expenses incurred in the
repair and maintenance of each facility and
equipment except major repairs
 Rentals – expenses incurred for the lease or rental
of the building/office space
 Taxes, Fees & charges –
 Communication – expenses incurred for courier,
telephone, cellphone, e-mail , fax, internet,
messengerial and all other means of
 Representation – incurred related to
accomodating visitors and guests on official
 Gas, Oil & Lubricants – gasoline, fuel and
lubricants for service vehicles, delivery vans and
 Miscellaneous Exp – exp. Incurred by the
cooperative not classified under of the specified
expenses account
 Depreciation – amount provided for wear and tear
of property and equipment and amortization of
intangible assets
 Amortization - amount provided for amortization
of leasehold rights and improvements
 Amortization of Leasehold Rights and
Improvement – amount provided for amortization
of leasehold rights and improvements
 Periodicals, Magazines & Subscription – incurred
for subscription or purchase of periodicals,
magazines & others.
 Salaries & wages – exp incurred for services
rendered by employees inclusing overtime pay
 Employees Benefits – benefits given to employees
other than salaries and wages such as but not
limited to 13th month, bonus, allowances, and
subsistence allowances, including human resource
 Officers’ honorarium and allowances – amount
incurred for services rendered by directors,
committee members & officers
 Litigation Expenses – expenses incurred in judicial
and quasi-judicial cases including incidental costs
where the coop is the complainant as authorized
by BOD
 School Program Support – amount allocated by
the cooperatives as support mechanism to school
 Office Supplies – expenses incurred for office and
various supplies used in the administration and
conduct of business operation.
 Meeting and conferences –amount incurred for the
conduct of attendance to meetings and conferences
 Trainings & seminars – amount incurred for officers,
directors, employees and members for attending
trainings and seminars
 Provision for probable Lossess on Accounts
Installment Receivable – allocation or provision for
estimated losses arising from probable
uncollectible loans/accounts/installment

 Provision for Losses – others - allocation or

provision for estimated losses on investments
 General Assembly expenses – incurred in the
conduct of regular/special general assembly
 Members benefit expenses – incurred in providing
for additional members’ benefit and social services
 Affiliation fee – incurred to cover membership or
registration fees and annual dues to a federation or
 Social & Community Service Expense – refer to
expenses incurred by the cooperatives in its social
community involvement including solicitation and
donations to charitable institutions
 Project Subsidy – refers to the 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

 Donation and Grant Subsidy –amount deducted

from Donation & Grant to subsidize charges on
property and equipment funded by donation and
 Subsidized Project Expenses – refers to portion of
the Project Subsidy Fund expended for training,
salaries and wages and other activities subsidized
by donations and grants and optional fund

 Gains or Losses on Sale of Property & Equipment –

refers to gains or losses derived from the sale of
acquired assets/properties and equipment
 Gains or Losses in Investment – refers to income
earned or losses incurred from the disposal of

 Gains or Losses on Sale of Repossessed Item –

refers to income earned or losses incurred from the
sale of repossessed items

 Prior Years’ Adjustments