CXC CSEC Principles of Accounts (POA) exam guide: Section 11: Accounting for Co-operatives
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CXC CSEC Principles of Accounts Exam Guide Section 11: ACCOUNTING FOR CO-OPERATIVE SOCIETIES
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SPECIFIC OBJECTIVES The students should be able to: |
CONTENT
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| 1. |
Identify the essential features of a Co-operative;
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Nature of Co-operative societies; co-operative principals. |
| 2. | Identify types of Co-operatives; |
Types of Co-operatives, for example, credit unions, agricultural societies.
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| 3. | Describe the various methods of raising capital for a Co-operative;
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Raising capital for a Co-operative society; journal entries to record capital. |
| 4. | Prepare the Income Statement showing how surplus is distributed;
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Preparation of Income Statement showing distribution of surplus.
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| 5. | Prepare the Balance Sheet of a Co-operative; |
Preparation of Balance Sheet. |
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