Co-operative Accounting: Disclosing Redemption Contingencies for Member Shares
Author: Beaubien, Louis
Source: Journal of Co-operative Studies, Volume 44, Number 2, August 2011 , pp. 38-44(7)
Publisher: UK Society for Co-operative Studies
Abstract:The extant literature argues that co-operatives are unique organisational forms, different from investor owned companies. As such, they conduct business differently and have differing constituting structures. Although some aspects of the organisation may appear similar – owners shares and members shares – they have significant differences. Existing practice in co-operatives has been to try to make business and reporting fit accounting standards that were developed for investor owned companies. The results of these adaptations have been equivocal at best. As a remedy, this paper provides the example of member equity as it might be reconsidered within the principles of how co-operatives actually function; and therein suggests a new practice for reporting the value of member shares.
Document Type: Short Communication
Publication date: August 1, 2011
- The Journal of Co-operative Studies offers a forum through which research on the history, theory and operations of Co-operative Enterprises both in the UK and around the world can be diseminated to a wider audience. It includes both formal pieces of academic research and theory-practise articles based upon the experiences of 'reflective practitioners' in the field.
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