accounting of cooperative companies;

accounting of cooperative companies;

Every cooperative is registered when at least one-third of its capital is paid, and if it is paid in cash, the members of the cooperative are obliged to pay the unpaid amount of their share within the period stipulated in the statute.
The member or members of the cooperative can transfer their share to other members and qualified persons by complying with this law. The financial responsibility of members in cooperative companies is limited to the amount of their share, unless otherwise stipulated in the contract.
Therefore, according to the provisions of the law, since the members of the cooperative company can pay at least one-third of the capital, the relevant registrations are similar to the joint-stock company, with the difference that one-third is paid in cash or non-cash, and two-thirds of it will be the obligation of the members.

The activities that a cooperative company performs during the financial year can be service, production or distribution according to the type of cooperative. These activities are recorded in the books like the activities of other companies, but the activities at the end of the financial period, the majority of which are records related to the correction of accounts. Closing the accounts and financial reporting and the results of operations are different from other companies.

1⃣ Establishing the company and depositing one-third of the capital in cash
Bank *
Commitment of members *
capital *
2⃣ Depositing the remaining capital funds by shareholders
Bank *
capital *
3. Registration of company expenses and payment by one of the members
Establishment costs *
Accounts Payable – Mr./Ms. *
4⃣ Payment of establishment costs
Accounts Payable – Mr./Ms. *
Bank *
5. Withdrawal of members from membership in the cooperative
Capital *
Bank *
Commitment of members *

Increasing the capital of cooperative companies in the following ways
1- Capital increase through the issuance of new shares at nominal value
2- Capital increase through nominal value increase
3- Capital increase through undivided profits of previous years and accounts
4- Issuance of new shares to increase capital by revaluation of the company (to the value of

Capital increase through the issuance of new shares at nominal value
Bank *
capital *
Capital increase through nominal value increase
Bank *
capital *
Capital increase through undivided profits of previous years and savings accounts
legal reserve *
general reserve *
capital *
Issuance of new shares to increase capital by revaluation of the company (today’s value)
Daily value of each share = revalued assets – revalued liabilities divided by the total number of shares
Bank *
revaluation account *
capital account *

Capital reduction
1- Due to the reduction of members
2- Because of the harmfulness

Reduction of capital due to reduction of members
revaluation account *
capital account *
Bank *

Capital reduction due to losses
capital *
Accumulated profit and loss *

Profit sharing in cooperative companies
profit and loss summary *
Distribution of profit and loss *
Distribution of profit and loss *
Income Tax Savings *
legal reserve *
reserve fund *
Cooperation Fund *
bonus payable *
Dividends payable **

Mehdi Koh Soltani (financial services, accounting, financial and tax consultant):
The group of accountants and auditors of Tabriz
@Hesabdaran_Tabriz
@Hesabdaran_Tabrizz