The accounting and financial implications of the Co-operative Societies Act 2001

Abstract

This dissertation exammes the accounting and financial implications of the Co operatives Societies Act 2001. The key research objectives of this study consider: • the accounting and financial implications on co-operatives, and • the financial impact on two main interested parties - the co-operatives board and auditors. The impact of the new accounting features on co-operatives could be divided into two main categories, namely: 1. the re-establishment of a level playing field for co-operatives in the business world, and 2. the projection of an improved image through the introduction of higher accounting requirements.