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Standard Chart of Accounts for Cooperatives ACCOUNT

CODE ACCOUNT TITLE DEFINITION


ACCOUNT
ACCOUNT TITLE DEFINITION account.
CODE

STATEMENT OF FINANCIAL CONDITION


10000 ASSET ACCOUNTS - are resources controlled by the
cooperative as a result of past events and from which future 11140 Cash in Cooperative This account refers to money
economic benefits are expected to flow to the cooperative Federation deposited in the federations to which
they are affiliated, i.e. savings and
11000- CURRENT ASSETS Cash and other assets that are
time deposits which are unrestricted
reasonably expected to be realized
and readily available when
12000 in cash or intended for sale or
needed. A subsidiary ledger shall be
consummation within twelve
maintained for each account.
months after the balance sheet date,
or the normal operating cycle of the 11150 Petty Cash Fund This account refers to limited
business, unless it is restricted from amount of money set aside for small
being exchanged or used to settle a expenditures such as stationeries,
liability for at least twelve months supplies and fares maintained under
after the balance sheet date (PFRFC an imprest system. It should be
Chapter IV, Section 2.1.) replenished periodically when the
11100- Cash and Cash Equivalents Cash and short term, highly liquid fund gets low.
investments, and held to meet short- 11160 Revolving Fund This account refers to the amount set
11180 term cash commitments rather than aside to cover disbursements for
for investment or other purposes. An recurring transactions maintained
investment normally qualifies as a under an imprest system. It should
cash equivalent only when it has a be replenished periodically when the
short maturity of, say, three months fund gets low . This may include
or less from the date of acquisition. emergency purchases, withdrawal of
(PFRFC Chapter VII, Sections 2) deposits, release of loan proceeds,
11110 Cash on Hand This account refers to money (bills etc., the maximum amount of which
and coins) still in the possession of shall be predetermined by the Board
the cooperatives custodian. of Directors.
11120 Checks & Other Cash This account refers to dated checks, 11170 Change Fund This account refers to the reasonable
Items (COCI) postal money order (PMO) and amount of money set aside by BOD
demand drafts awaiting deposits to change bigger amount of bills to
smaller denomination or coins or
11130 Cash in Bank This account refers to money vise versa.
deposited in the bank under the
name of the cooperative, i.e. 11180 ATM Fund This account refers to the money
savings, current, time deposits, and placed in the ATM manned by the
combo-account. A subsidiary ledger cooperative.
shall be maintained for each bank
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11200- Loans And Receivables These refer to financial assets with Receivables Trade sales of related goods /merchandise
fixed or determinable payments that which are expected to be collected
11300 are not quoted in an active market. Current within the credit terms set by the
A receivable is recognized for the Board of Directors.
difference between the gross 11260 Accounts This account refers to total trade
receivable and the related unearned receivables due from members
interest income (PFRFC Chapter 10, and/or non-member patrons which
Receivables Trade
Section 4.1., par. 5) remain unpaid beyond the credit
11210 Loans Receivable Current This account refers to the - Past Due terms set by the BOD.
outstanding balance of loans granted
to the members which are not yet 11270 Accounts This account refers to total Trade
due. receivables from the member &
Receivables Trade non-member patrons whose
11220 Loans Receivable - Past This account refers to outstanding accounts were restructured upon full
Due balance of loans to member-
payment or settlement of interests
borrowers not paid on installment - Restructured
due and/or penalties.
due dates using the Portfolio at Risk
(PAR). 11280 Accounts This account refers to total trade
receivables from member and non-
11230 Loans Receivable This account refers to receivables
Receivables Trade member patrons under legal action.
Restructured from the memberborrowers whose
The receivables shall remain in this
loan accounts were restructured
- in Litigation account during the pendency of the
upon full payment of interests due. legal proceedings and until fully
11240 Loans Receivable Loans This account refers to receivables settled.
in Litigation from memberborrowers under legal
11281 Allowance for This account refers to the
action. The loan shall remain in this cumulative amount of probable or
account during the pendency of the
Probable Losses - impairment losses arising from
legal proceedings and until fully
noncollection of accounts.
paid/restructured/foreclosed and
undergone proceedings. Accounts
11241 Unearned Interests and This account refers to interest on
Discounts loans deducted in advance and Receivable Trade
presented as a contra asset account. 11290 Installment This account refers to the amount
11242 Allowance for This account refers to the due from members and non-member
cumulative amount of probable or Receivables patrons for sale of
Probable Losses Loans impairment losses arising from merchandise/goods on a deferred
noncollection of loans. Current payment or installment plan.
11250 Accounts This account refers to the amount
due from member, non-member
patrons and/or ATM providers
resulting from services rendered and
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11300 Installment This account refers to amount due 11330 Sales Contract Receivable This account refers to amortized
from members and non-member cost of the receivables arising from
Receivables Past patrons for sale of merchandise / installment sale of assets acquired in
goods on a deferred payment or settlement of loans/obligations.
installment plan which remain 11331 Allowance for Probable This account refers to the
Due
unpaid beyond the terms set by the Losses cumulative amount of probable or
cooperative. impairment losses that may arise
11310 Installment Receivables This account refers to amount due - Sales Contract Receivables from noncollection of payment on
Restructured from members and non-member Sales Contract Receivables.
patrons for sale of merchandise / 11340 Accounts This account refers receivables other
goods on a deferred payment or than accounts receivable-trade.
installment plan that were Examples of this, income tax
Receivable non trade
restructured upon full payment or receivable, and insurance claims
settlement of interests due and/or receivable, etc.
penalties.
11341 Allowance for Probable This account refers to the
11320 Installment This account refers to amount due Losses - Accounts cumulative amount of probable or
from members and non-member Receivablenon trade impairment losses that may arise
Receivables - in patrons for sale of merchandise / from non-collection of payment on
goods on a deferred payment or Accounts Receivablenon trade
installment plan under legal
Litigation 11350 Advances to This account refers to duly approved
action. The receivables shall remain
cash advances for official business
in this account during the pendency
Officers, to officers, employees and members,
of the legal proceedings and until
subject to liquidation in accordance
fully settled.
Employees and with the policy of the cooperative.
11321 Allowance for This account refers to the
cumulative amount of probable or
Probable Losses impairment losses arising from Members
noncollection of installment 11360 Due from Accountable This account refers to total
receivables collectibles due from accountable
- Installment
Officers, officers and employees arising from
shortages, losses and unliquidated
Receivables
cash advances beyond the prescribed
11322 Unrealized Gross Margin This account refers to the unrealized Employees and
period, that are subject to
portion of the gross margin on immediate settlement.
goods sold on installment Members
basis. This is a contra account to 11370 Finance Lease Receivable This account refers to receivables
installment receivable. (used by arising from sale of goods/property
coops involved in real estate under finance lease agreement.
operations)
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11371 Allowance for Impairment This account refers to the 11520 Repossessed Inventories This account refers to fair value of
Finance Lease Receivable cumulative amount of impairment inventories previously sold but
loss that may arise from non- regained as a result of the default of
collection of payment on Finance the payments due from
Lease Receivables. members/customers.
11380 Other Current Receivables This account refers to 11530 Spare This account refers to spare
transactions/adjustments not parts/materials and other goods on
classified under any of the Parts/Materials & hand and in transit
receivable accounts mentioned.
11400 Financial Assets These are financial instruments Other Goods
excluding cash and cash equivalents,
loans and receivables, investment in Inventory
associates, investment in joint
ventures, and investments in 11540 Raw Materials Inventory This account refers to cost of raw
subsidiaries materials on hand and in transit at
the end of the accounting or
11410 Financial asset at fair value This account refers to financial reporting period.
through profit or loss assets with quoted price in the form
of debt or equity securities that are 11550 Work in Process Inventory This account refers to cost of job or
held for trading purposes. work in process on hand at the end
of accounting or reporting period.
11420 Financial asset at cost This refers to financial assets in the
form of debt or equity securities 11560 Finished Goods Inventory This account refers to cost of
which are not quoted in an active completed job or work orders and
market and are expected to be goods manufactured/ produced/
realized in cash within one year processed on hand and ready for
from the reporting period (net of sale at the end of accounting or
impairment) reporting period
11500 Inventories These are assets: (a) held for sale in 11570 Inventory Agricultural This account refers to the harvested
the ordinary course of business; (b) Produce product of the biological assets
in the process of production for such measured at cost.
sale; or c) in the form of materials or 11580 Equipment for Lease This account refers to cost of
supplies to be consumed in the Inventory equipment on hand intended for
production process or in the lease purchase agreement.
rendering of services.
11590 Allowance for impairment This account refers to allowance set
11510 Merchandise Inventory This account refers to cost of goods - Inventory aside to provide for impairment
on hand out on consignment and in- losses on inventory. This is a contra
transit, available for sale at the end account to Inventories.
of the accounting or reporting
period. 11600 Biological Assets This account refers to living animals
and plants that are intended for
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sale. This shall be measured at cost. 12170 Prepaid Expenses This account refers to payments
made in advance, to be amortized
within one (1) year (e.g. insurance,
12000 Other Current Assets This account refers to any other interest, rentals, etc.)
current assets not classified above
12200 Other Current Assets This account refers to current assets
which are expected to be realized,
not falling in any of the above
consumed or used within the year.
categories.
12110 Input Tax This account refers to value-added
13000- NON CURRENT ASSETS All other assets not classified as
tax due from or paid by a VAT
current to include tangible,
registered/registrable entity on the
17000 intangible, operating and financial
importation or local purchases of
assets of a long term nature.
merchandise/goods or services
including lease or use of property. 13100 Financial Assets Long Term (excluding cash and cash
equivalents, loans and receivables,
12120 Creditable VAT An amount of Value Added Tax
investment in associates, investment
withheld by a cooperative supplier
in joint ventures, and investments in
arising from sale or procurement of
subsidiaries)
goods/services from a taxable
institution/cooperative. 13110 Financial asset at cost This refers to financial assets in the
form of equity securities which are
12130 Creditable Withholding Refers to an amount that is withheld
not quoted in an active market and
Tax by cooperative supplier arising from
are expected to be realized in more
sale or procurement of
than one year from the reporting
goods/services from a taxable
period (net of impairment)
institution/cooperative
13120 Financial Asset at amortized This refers to financial assets in the
12140 Deposit to Suppliers This account refers to the amount
cost form of debt securities which are
paid in advance to suppliers.
expected to be realized in more than
12150 Unused Supplies This account refers to cost of one year from the reporting period
supplies on hand. (net of impairment)
12160 Assets Acquired in This refers to non real properties 13200 Investment in Subsidiaries This account refers to the amount of
Settlement of acquired in settlement of loans and the cooperatives investment in the
Loans/Accounts receivables through foreclosure. equity instruments of non-
cooperative subsidiaries (ownership
12161 Accumulated Depreciation This account refers to the total of the more than 50% of the voting
and amount of depreciation and shares)
impairment assets acquired in 13300 Investment in Associates This account refers to the amount of
ImpairmentAssets Acquired settlement of loans/accounts that are the cooperatives investment in the
in Settlement of set up periodically and charged
equity instruments of associates.
loans/accounts against the current operations.
(ownership of the 20%- 50% of the
voting shares)
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13400 Investment in Joint Ventures This account refers to the amount of Property-Building current operations.
the cooperatives investment in
shares of stocks of joint ventures
evidenced by contractual agreement
that gives the venturers joint control.
13500 Investment Property Investment property is property 13530 Real Properties Acquired This account refers to real properties
(land or a building, or part of a (RPA) (Land and Building) acquired by the
building, or both) held by the co-op in settlement of loans and
cooperative to earn rentals or for receivables through foreclosure or
capital appreciation or both, rather dacion enpago and/or for other
than for: reasons. Should the cooperative use
such assets in its main operation, the
same assets shall be re-classified
(a) use in the production or supply
accordingly.
of goods or services or for
administrative purposes; or (b) sale 13610 Accumulated Depreciation This account refers to the
in the ordinary course of business. RPA cumulative amount of impairment
loss incurred on RPA, which shall
13510 Investment Property - Land This account refers to cost of land
be accounted for in accordance with
that generate income or capital
PAS 36
appreciation or both, not used in
production of goods, supply or 14000 Property, Plant and These are tangible assets that:(a) are
services nor for administrative Equipment held for use in the production or
purposes or sale in the ordinary supply of goods or services, for
course of business measured at cost. rental to others, or for administrative
Fair value of the property must be purposes, and (b) are expected to be
disclosed at the end of the used during more than one period.
accounting/reporting period. 14110 Land This account refers to the
13520 Investment This account refers to the cost of acquisition cost of the land used for
building that generate income or its main operation plus all incidental
capital appreciation or both, not costs . All these are reflected in a
Property Building
used in production of goods, supply single cost (fair market value or
or services nor for administrative appraised value if donated). At the
purposes or sale in the ordinary end of the accounting/ reporting
course of business measured at cost period, fair value of the property
and subject to depreciation. must be disclosed.
13521 Accumulated Depreciation This account refers to the total 14120 Land This account refers to the cost of
amount of depreciation and improvements after land
impairment on Investment Property Improvements acquisitions such as fencing,
Building that are set up roadways, landscaping, etc, that are
Investment
periodically and charged against the subject to depreciation over their
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useful lives. 14141 Accumulated This account refers to total amount


Depreciation of depreciation on Building on
Leased/Usufruct Land based on cost
Building on that are set-up periodically and
charged against the current
14121 Accumulated This account refers to the total operations.
Leased/Usufruct
amount of depreciation/ impairment
Depreciation loss on land improvement that are
set up periodically and charged Land
against the current operations. 14150 Utility Plant This account refers to cost of
Land
property and equipment used in the
generation of power/water and other
Improvements utilities for operation and/or for
14130 Building and This account refers to the distribution to consumers.
Improvements acquisition/construction cost of the 14151 Accumulated Depreciation This account refers to total amount
building and its improvement on the Utility Plant of depreciation cost on Utility
land owned and used for its main Plant that are set up periodically
operation. Major repairs or and charged against the current
improvements that will prolong the operations
life of the building are considered
capitalizable cost. At the end of the 14160 Property, Plant & This account refers to the cost
accounting/ reporting period, fair determined by the fair or present
value of the property must be Equipment -Under value of leased Property, Plant and
disclosed. Finance Lease Equipment..
14131 Accumulated This account refers to the total 14161 Accumulated This account refers to total amount
Depreciation amount of depreciation/ impairment of depreciation on PPE - under
cost on building that are set up Depreciation Property, Finance Lease that are set-up
Building and periodically and charged against the Plant & periodically against current
current operations operations.
Improvements Equipment - Under Finance
14140 Building on This account refers to the cost of
construction of new building on a Lease
Leased/Usufruct leased/usufruct land and shall be 14170 Construction in Progress This account refers to the cost of
depreciated over the estimated life materials, labor and other
Land of the building or the lease/usufruct construction related costs incurred
term whichever is shorter. on unfinished construction project,
prior to occupancy/actual use.
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14171 Accumulated Depreciation This account refers to total amount 14200 Kitchen, Canteen This account refers to the cost of
Property, Plant & of depreciation on Construction in equipment, cutleries and other tools
Progress that are set-up periodically & Catering used in food preparation and serving
Equipment - Under Finance against current operations. including incidental expenses
incurred in acquiring them up to the
Equipment/
Lease time they are received and ready for
use.
Utensils
14180 Furniture, Fixtures & This account refers to the cost of
movable (furniture), immovable 14201 Accumulated Depreciation This account refers to the total
(fixtures) properties and office / Kitchen, Canteen & amount of depreciation on Kitchen,
Equipment (FFE)
production/ store equipment used in Canteen and Catering
the ordinary course of business such Catering Equipment/Utensils that are set-up
as but not limited to desks, chairs, periodically against current
cabinets, computers, vaults, Equipment/Utensils operations.
including incidental expenses 14210 Transportation Equipment This account refers to the cost of
incurred in acquiring them, up to the equipment owned and used in
time they are received and ready for transporting goods, services or
use. personnel such as motorcycles, pick-
14181 Accumulated This account refers to the total ups, vans and other vehicles.
Depreciation FFE amount of depreciation/ impairment 14211 Accumulated This account refers to the total
cost on Furniture, Fixture and Office amount of depreciation/ impairment
Equipment that are set up cost on Transportation Equipment
periodically and charged against the Depreciation -
current operations Transportation Equipment that are set up periodically and
charged against current operations
14190 Machineries, Tools and This account refers to the cost of 14220 Linens and Uniforms This account refers to the cost of
machineries, tools and equipment linens and the uniforms used by
Equipment owned and used in producing goods, employees and staff including costs
providing services and repairs. of tablecloth, curtains, blankets and
14191 Accumulated Depreciation This account refers to the total similar items.
amount of depreciation 14221 Accumulated Depreciation This account refers to the total
on machineries, tools and Linens and Uniforms amount of depreciation on linens
Machineries, equipment that are set-up and uniforms that are set-up
periodically and charged against the periodically against current
current operations operations.
Tools and
14230 Nursery/ Greenhouses This account refers to the cost of
Equipment nursery and greenhouse facilities
and equipment used for seedling
production and growing of
vegetables
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14231 Accumulated Depreciation This account refers to total amount Biological Assets
- of depreciation and impairment on
nursery and greenhouse that are set- Plants
Nursery/ up periodically and charged against
the current operations.
16000 Intangible Assets Identifiable non-monetary asset
Greenhouse
without physical substance for
14240 Leasehold Rights & This account refers to the cost of which future economic benefits are
Improvements improvements on premises under expected to flow back and amortized
operating lease including cost of over the estimated useful life.
rights and concession rights which
16100 Franchise This account refers to the cost of
are subject to amortization over the
acquiring the right and privilege to
useful life of the property or the
sell goods and services using the
term of the lease, whichever is
particular trademark/ brand /logo of
shorter.
the franchisor. The cooperative is
14290 Other Property, This account refers to Property, the franchisee.
Plant and Equipment not falling in
16200 Franchise Cost This account refers to the cost of
Plant and any of the above categories
acquiring privilege or right granted
by Franchising Agencies to a
Equipment cooperative to exercise an exclusive
15000 Biological Assets service to a particular route or
area. This is specific for Transport
15100 Biological Assets This account refers to cost of and Water Service Cooperatives.
Animals breeding stock/working animals 16300 Copyright This account refers to the right for
owned by the cooperative. the exclusive use or distribution of
15110 Accumulated Depreciation This account refers to total amount products or services acquired from
Biological Assets of depreciation and impairment on an author or artists.
Biological Assets - Animals that are 16400 Patent This account refers to the exclusive
Animals setup periodically and charged rights granted by the state to a
against the current operations. patentee (the inventor or assignee)
15200 Biological Assets Plants This account refers to living plants for a fixed period in exchange for
that produces seeds, seedlings, the regulated, public disclosure of
flowers or fruits. certain details of a device, method,
15210 Accumulated This account refers to total amount process or composition of matter
of depreciation and impairment on which is new, inventive, and useful
BA - plants that are set-up or industrially applicable
Depreciation
periodically and charged against the 17000 Other Non- Assets which do not fit into any of
current operations. the preceding classifications
Current Assets
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17100 Computerization Cost This account refers to the cost of sheet date.
acquisition or development of
computer programs and other
software excluding upgrading of
system. This is amortized over a
period not exceeding three (3) years
or useful life whichever is shorter.
17200 Other Funds and Deposits This account refers to restricted 21100 Deposit Liabilities This account refers to deposits made
funds set aside for funding of by members that can be withdrawn
Statutory and other reserves such as at a given period.
Retirement, Members' Benefit and 21110 Saving Deposits This account refers to deposits made
Other Funds. This may be in the by members that can be withdrawn
form of time deposit or other anytime at the option of the
securities which may be convertible memberdepositors.
to cash when needed. 21120 Time Deposits This account refers to deposits made
17300 Due from Head This account refers to receivables by members for a specified period of
from Head Office/ Branches/ time and withdrawable at a
Office/Branch/ Satellites Satellites and should be closed at the predetermined date.
end of the reporting period. 21200 Trade and Other Payables
17400 Deposit on This account refers to deposits on
containers subject to refund upon its
return. 21210 Accounts PayableTrade This account refers to
Returnable Containers
obligations/indebtedness to suppliers
17900 Miscellaneous Assets This account refers to assets not for purchase of goods and services
falling in any of the above intended for sale
categories. 21220 Accounts PayableNon This account refers obligations/
20000 LIABILITIES -present obligation of the cooperative arising Trade indebtedness to suppliers for
from past events, the settlement of which is expected to purchase of goods and services not
result in an outflow from the cooperative of resources intended for sale (e.g. supplies,
embodying economic benefits.. periodicals and etc.)
21000- CURRENT Obligations reasonably expected to 21230 Loans Payable - Current This account refers to the
be settled within the normal indebtedness to financial
23000 LIABILITIES business operating cycle, that: (a) is institutions, federations, unions, or
due within 12 months after balance individuals payable within the
sheet date; (b) is held primarily for accounting/fiscal period and the
the purpose of being traded; (c) current portion of the Long Term
does not have an unconditional right Loans Payable.
to defer settlement of the liability for 21240 Finance Lease Payable This account refers to the current
at least 12 months after balance current portion of PPE acquired under
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Finance Lease Agreement. 21340 Withholding Tax Payable This account refers to all taxes
withheld as prescribed by law.
21250 Due to deployed members This account refers to amount set 21350 Output Tax This account refers to value added
aside for payment of salaries & tax on the sale of taxable
other statutory obligations to merchandise/ goods and services.
deployed members of labor service 21360 VAT Payable This account refers to excess of
cooperatives. output tax over input tax.
21260 Cash Bond Payable This account refers to amount
received from members/employees 21370 Income Tax Payable This refers to amount of unpaid tax
as guarantee for the use of due from cooperative arising from
equipment/ accessories / future taxable income.
losses, shortages and damages 21390 Other Accrued Expenses This account refers to other accrued
21290 Other Payables This account refers to Payables not expenses that cannot be classified
falling in any of the above under any of the preceding accrued
categories. expenses accounts.
21300 Accrued Expenses This account refers to expenses that 21400 Other Current
have been incurred but not yet paid
as of the end of accounting period. Liabilities
21310 Due to Regulatory Agencies This account refers to amount 21410 Deposit from Customers This account refers to deposits from
collected from members in payment customers for containers, food or
for registration, licensing, other services subject to refund.
supervision, etc. 21420 Advances from Customers This account refers to advance
payment for delivery of goods or
with Regulatory Agencies services.
21320 SSS/ECC/ Philhealth This account refers to amounts 21430 School Program This account refers to an amount
withheld from the compensation allocated as support mechanism to
/ Pag-ibig Premium income of employees representing Support Fund Payable school program, which remains
their premium contributions to SSS, unpaid. (applicable to public school
Philhealth and Pag-ibig agencies and - based cooperatives only)
Contributions
the corresponding share of the 21440 Interest on Share Capital This account refers to liability to
cooperative as employer. Payable members for interest on share
Payable capital, which can be determined
21330 SSS/Pag-Ibig Loans This account refers to amounts only at the end of fiscal year
Payable withheld from the compensation 21450 Patronage Refund Payable This account refers to liability e to
income of employees representing members for patronage refund,
their payment of loans to SSS and which can be determined only at the
Pag-ibig agencies. end of fiscal year.
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21460 Due to Union This account refers to the 22500 Finance Lease This account refers to the future
accumulated amount set aside to be lease payments for Property, Plant
/Federation (CETF) credited to the Union/Federation Payable - Long Term and Equipment acquired under
where the cooperative is a finance lease, Net of the Current
member. This corresponds to the Portion.
50% of the total annual allocation 23000 Other Non-Current The totality of all other liabilities
for the Education and Training that cannot be classified after any of
Fund. the preceding liability accounts.
Liabilities
21490 Other Current This account refers to other
23110 Project Subsidy Fund This account refers to the unused
liabilities that cannot be classified
portion of the donation/grant for
Liabilities under any of the preceding current
training, salaries and wages, etc.
liability accounts.
23120 Members Benefit and This account refers to funds for
22000 NON- Liabilities payable beyond one year
Other Funds Payable special purposes such as member's
CURRENT LIABILITIES
benefits, including Kilusang Bayan
22100 Loans Payable This account refers to the Guarantee Fund (KBGF) /
indebtedness of the cooperative to Cooperative Guarantee Fund (CGF)
financial institutions, federations, not part of the distribution of net
unions, or individuals payable surplus.
beyond one year. 23130 Due to Head The account is used to record inter-
22200 Discounts on Loans Payable This account represents the interest office transactions in the books of
deducted from the loan Office / Branch/ Head Office (HO)/Branch/ Satellite/
value/principal to be amortized over
the term of the loan using effective Satellite Department within the cooperative
interest method. This is a contra and should be closed at the end of
account to Loans Payable. the accounting period.
22300 Revolving Capital Payable The account refers to deferred 23140 CSF Guarantee Fund This account refers to the 99%
payment of interest on share capital accumulated guarantee fund
and patronage refund, which should contributed by member.
be agreed upon in the General 23190 Other Non This account refers to other long
Assembly. term liabilities not elsewhere
22400 Retirement Payable This account refers to the Current Liabilities classified.
accumulated retirement benefit costs
30000 EQUITY - is the residual interest in the assets of the cooperative
charged against the income of the
after deducting all its liabilities.
cooperative over the expected
remaining working lives of 30100 MEMBERS' EQUITY This account refers to ownership
participating qualified employees. Interest of members in the
cooperative.
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30110 Subscribed Share Capital- This account refers to the share 30300 Deposit for Share This account refers to amount paid
Common capital subscribed by regular by the members for capital
members payable over a certain Capital subscription equivalent to the value
period of time of less than one share and additional
30120 Subscription This account refers to the total subscriptions in excess of authorized
Subscription
unpaid subscribed share capital of capital pending approval of the
regular members. amendments to increase Authorized
Receivable -
Share Capital. This may also
include the amount of share capital
Common paid but not yet covered by
30130 Paid-up Share Capital This account refers to collected subscription contract. Subsidiary
Common subscribed share capital - common ledgers shall be maintained for this
account.
30131 Treasury Shares Capital - This account refers to common
Common shares bought back and held in 30400 Undivided Net Surplus This account refers to the
treasury. This account should only accumulated net surplus of the
be used in the event that there are no cooperative that is allocated and
members who are willing to buy the distributed at the end of each
shares of outgoing members. reporting period in accordance with
Article 86 of RA 9520. This
30210 Subscribed Share Capital- This account refers to the preferred
account is used for Interim Financial
Preferred share capital subscribed by member
Statement Presentation only.
(regular and associate) payable over
a certain period of time. 30500 Net Loss This account refers to temporary
account to record losses in
30220 Subscriptions This account refers to the total
operations incurred during the
unpaid subscribed preferred share
reporting period. Net loss for the
ReceivablePreferred capital of regular and associate
year shall be charged against reserve
fund, subject to provisions of Article
members 86 of RA 9520
30230 Paid-up Share Capital- This account refers to collected 30600 Donations/ Grants A donation and grant is assistance
Preferred subscribed preferred share capital by another entity in the form of a
30231 Treasury Shares Capital - This account refers to preferred transfer of resources to a
Preferred shares previously issued and cooperative in return for past or
reacquired and held in treasury, but future compliance with specified
not retired or cancelled, and maybe conditions relating to the operating
re-issued to existing members. activities of the cooperative.
30700 Statutory Funds Mandatory funds established/set up
in accordance with Article 86 of
RA9520
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

30710 Reserve Fund This account refers to the amount 30800 Revaluation Surplus This account refers to the appraisal
set aside annually for the stability of increase in the revaluation of land
the cooperative (equivalent to at which are allowed subject to
least 10% of net surplus) and to the guidelines issued by the
meet net operating losses in its Authority.
operation. A corresponding fund STATEMENT OF OPERATIONS
should be set up either in the form
of time deposit with local banks or
40000 REVENUE is income that arises in the course of the ordinary
government securities.
activities of a cooperative and is referred to by a variety of names
30720 Coop. Education & This account refers to the amount including sales, service income, commission, interest, dividends,
Training Fund retained by the cooperative which royalties and rent.
shall not be more than ten percent
40100 Income from Credit All income derived from Credit
(10%) of the net surplus for the
Operations Operations
training, development and other
similar cooperative activities geared 40110 Interest Income from Loans This account refers to income
towards the growth of the earned and collected by the
cooperative movement. Half of the cooperative from the interest
amount allocated for the fund charged on the loans granted to their
annually shall be spent by the members.
cooperative for their own education 40120 Service Fees This account refers to the fees
and training purposes, while the collected by the cooperative for loan
other half may be remitted to a processing/ servicing/collecting.
union or federation chosen by the
cooperative. 40130 Filing Fees This account refers to the fees
collected by the cooperative upon
30730 Community This account refers to the fund set filing of loan applications by
aside from the net surplus which memberborrowers.
Development should not be less than 3% for
projects and/or activities that will 40140 Fines, Penalties, This account refers to the fees
benefit the community where the Surcharges imposed and collected by the
Fund cooperative on the delayed
cooperative operates.
amortization payments of the
30740 Optional Fund This account refers to fund set aside member-borrower.
from the net surplus not exceeding
7%. It shall be used for acquisition 40200 Income from Service All income derived from service
of land and/or building, machinery Operations operations
and equipment, replacement fund 40210 Service Income This account refers to the amount
for PPE, members benefits, and collected for various services
other necessary funds. rendered.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

40220 Interest Income from Lease This account refers to interest 40410 Income/ Interest from This account refers to the income
Agreement earned arising from lease of assets Investment/ earned by the cooperatives from
under Finance Lease Agreement deposits in banks/other institutions
Deposits and investments made in financial
40300 Income from All income derived from marketing / institutions/government/ business
consumers / production operations organizations. This shall include
Marketing/ interest income derived from the
deposit of statutory funds in the
Consumers/ bank until utilized. (refer to the
accounting manual)
Production 40420 Membership Fee This account refers to the amount
collected from the cooperative's
Operations members-applicants upon approval
of their membership in the
40310 Sales This account refers to invoice price cooperative.
of all merchandise/ goods sold or
services rendered whether paid or on 40430 Commission Income This account refers to an amount
account. (segregate sales from received by the cooperative from
members and nonmembers) supplier as incentives.
40320 Installment Sales This account refers to sales to 40440 Realized Gross Margin This account refers to income
members and nonmembers of earned by the cooperative from the
merchandise/goods on a deferred installment sales of real estate.
payment plan or installment plan 40450 Miscellaneous Income This account refers to all other
40330 Sales Returns & This account refers to deductions income earned by the cooperative
Allowances from the invoice price due to returns for which no specific account has
resulting from damage, defects or been set up. This may include
errors in the kind or quality of goods winnings from raffle, contest,
delivered/sold to competition resulting from income
customers/members. generating activity/fund raising.
40340 Sales Discounts This account refers to deductions 50000 Cost of Goods Sold The cost/value of commodity sold as
allowed to customers for determined using physical or
settlement/prompt payment of their perpetual inventory system.
accounts 51000 Cost of Goods Sold This account refers to account used
40400 Other Income Income received by the cooperatives to record cost of finished goods sold
other than its main operation. under perpetual inventory system.
51110 Purchases This account refers to cost of
merchandise/goods bought whether
paid or on account under periodic
inventory system.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

51120 Raw Material Purchases This account refers to gross cost of servicing, construction and other
materials purchased for the professional works, including
production of food for sale, for consulting fee.
catering and canteen operations
(using periodic inventory system)
51130 Purchase Returns & This account refers to deductions 61110 Labor and Technical This account refers to amount
Allowances from invoice cost due to damage, incurred for technical and other
defects, or errors in the kind or Supervision services ancillary to the generation
quality of goods bought. of service income.
51140 Purchase Discounts This account refers to reductions in 61210 Salaries & Wages This account refers to amount
the cost of product bought due to the incurred for services rendered by
early payment. employees directly involved in
providing services including
51160 Freight In This account refers to the cost of overtime pay
transporting merchandise/ goods
from the place of purchase to 61230 Employees' Benefits This account refers to benefits given
storage area. Should form part of the to employees directly involved in
Cost of Good Available for Sale. providing services other than
salaries and wages such as but not
51170 Direct Labor This account refers to cost of labor limited to 13th month pay, bonus,
directly attributed to the production allowances, and subsistence
of goods. allowances including human
51180 This account refers to all cost other resource development.
than raw materials and direct labor 61240 SSS, Philhealth, Pag-Ibig This account refers to the
Factory/Processi ng used in the cooperative's share in the
Overhead production/manufacturing/ process employees' contribution to
of goods including royalties and Contribution
SSS, Philhealth and Pag-ibig.
production garments
61250 Retirement Benefit The cost of providing retirement
51200 Inventory Loss This account refers to reduction in Expenses benefits to employees directly
inventory due to spoilage, breakage involved in providing services. The
and variance between inventory per cost of retirement benefits is
books and per count recognized as an expense in the
60000 Cost of Services All costs incurred that are directly periods during which the services
related to the generation of power, are rendered.
water and other services (A separate 61280 Professional and This account refers to amount
subsidiary shall be maintained) Consultancy Fees incurred for professional and
61000 Project Management Cost This account refers to all costs consultancy services in relation to
incurred that are directly related to the generation of service income
the projects and contract entered
into by clients like manpower
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

61370 Supplies This account refers to expenses 62120 Power Cost This account refers to cost of power
incurred for various supplies used whether purchased or generated for
for service activities. distribution.
61410 Power, Light and Water This account refers to the cost of 62130 Labor and Technical This account refers to amount
electricity and water incurred in the incurred for technical and other
generation of service income. Supervision services ancillary to the generation
61430 Insurance This account refers to expenses of service income.
incurred to insure the equipment 62210 Salaries & Wages This account refers to amount
used in providing services. incurred for services rendered by
61440 Repairs and Maintenance This account refers to expenses employees directly involved in
incurred in the repair and providing services including
maintenance of machineries and overtime pay.
equipment used in the delivery of 62230 Employees' Benefits This account refers to benefits given
service except major repairs that to employees directly involved in
prolong the life of the asset. providing services other than
61450 Rentals This account refers to expenses salaries and wages such as but not
incurred for the building/office limited to 13th month pay, bonus,
spaces or facilities leased by the allowances, and subsistence
cooperative for the generation of allowances including human
service income resource development.
61490 Gas, Oil & Lubricants This account refers to This account 62240 SSS, This account refers to the
refers to amounts incurred for cooperative's share in the
gasoline, fuel and lubricants for Philhealth/ECC/ employees' contribution to SSS,
cooperative's machineries and Philhealth and Pag-ibig.
equipment used in the delivery of Pag-Ibig
service.
61520 Miscellaneous This account refers to all other Contribution
expenses incurred by the 62250 Retirement Benefit This account refers to the cost of
cooperative not classified under any Expenses providing retirement benefits to
of the specified expenses account. employees directly involved in
61530 Depreciation tear of building, machineries and providing services. The cost of
equipment used in the delivery of retirement benefits is recognized as
service. an expense in the periods during
61540 Amortization This account refers to amount which the services are rendered.
provided for amortization of 62250 Miscellaneous This account refers to all other
intangible assets. expenses incurred by the
62000 Generation Cost Cost incurred in the generation of cooperative not classified under any
power, water and other utilities. of the specified expenses account.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

62280 Professional and This account refers to amount 62590 Impairment Loss This account refers to difference
Consultancy Fees incurred for professional and between the carrying value and the
consultancy services in relation to recoverable value of the assets
the generation of service income. directly used in the delivery of
62370 Supplies This account refers to expenses services
incurred for various supplies used 63000 Distribution Cost Cost incurred in the distribution of
for service activities. power, water and other services.
62410 Power, Light and Water This account refers to cost of 63120 Power Cost This account refers to cost of power
electricity and water incurred in the whether purchased or generated for
generation of service income. distribution.
62430 Insurance This account refers to expenses 63130 Labor and Technical This account refers to amount
incurred to insure the equipment incurred for technical and other
used in providing services. services ancillary to the generation
Supervision
62440 Repairs and Maintenance This account refers to expenses of service income.
incurred in the repair and 63210 Salaries & Wages This account refers to amount
maintenance of machineries and incurred for services rendered by
equipment used in the delivery of employees directly involved in
service except major repairs that providing services including
prolong the life of the asset. overtime pay.
62450 Rentals This account refers to expenses 63230 Employees' Benefits This account refers to benefits given
incurred for the building/office to employees directly involved in
spaces or facilities leased by the providing services other than
cooperative for the generation of salaries and wages such as but not
service income. limited to 13th month pay, bonus,
62490 Gas, Oil & Lubricants This account refers to amounts allowances, and subsistence
incurred for gasoline, fuel and allowances including human
lubricants for cooperative's resource development.
machineries and equipment used in 63240 SSS, Phil health, This account refers to the
the delivery of service. cooperative's share in the
62530 Depreciation This account refers to amount ECC, Pag-Ibig Contribution employees' contribution to SSS,
provided for wear and tear of ECC, Philhealth and Pag-ibig.
building, machineries and 63250 Retirement Benefit This account refers to the cost of
equipment used in the delivery of Expenses providing retirement benefits to
service employees directly involved in
62540 Amortization This account refers to amount providing services. The cost of
provided for amortization of retirement benefits is recognized as
intangible assets. an expense in the periods during
which the services are rendered.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

63280 Professional and This account refers to amount service income.


Consultancy Fees incurred for professional and
consultancy services in relation to
the generation of service income.
63470 Communication This account refers to amount
63370 Supplies This account refers to expenses
incurred for transmission of
incurred for various supplies used
messages such as courier,
for service activities.
telephone, e-mail, fax, internet,
63390 Training/ Seminars This account refers to an amount messengerial, and all other means of
incurred for officers and staff communication used in the delivery
directly involved in providing of service.
services for attending trainings and
63490 Gas, Oil & Lubricants This account refers to amount
seminars/conducting seminars
incurred for gasoline, fuel and
including expenses related thereto
lubricants for cooperative's
after exhausting the CETF.
machineries and equipment used in
63410 Power, Light and Water This account refers to cost of the delivery of service.
electricity and water incurred in the
63520 Miscellaneous This account refers to all other
generation of service income.
expenses incurred by the
63420 Travel and Transportation This account refers to amount cooperative not classified under any
incurred for fares, toll fees, board of the specified expenses account.
and lodging, per diem, and meal
63530 Depreciation This account refers to amount
allowance of officers, employees
provided for wear and tear of
directly involved in providing
building, machineries and
services while on official travel.
equipment used in the delivery of
63430 Insurance This account refers to expenses service.
incurred to insure the equipment
63540 Amortization This account refers to amount
used in providing services including
provided for amortization of
that of the employees who are
intangible assets.
directly involved in generating
service income. 63590 Impairment Loss This account refers to difference
between the carrying value and the
63440 Repairs and Maintenance This account refers to expenses
recoverable value of the assets
incurred in the repair and
directly used in the delivery of
maintenance of machineries and
services.
equipment used in the delivery of
service except major repairs that 64000 Transport Service Cost All costs incurred that are directly
prolong the life of the asset. related to Service Income and
Passenger's Fee. (A separate
63450 Rentals This account refers to expenses
subsidiary shall be maintained).
incurred for the building/office
spaces or facilities leased by the
cooperative for the generation of
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

64140 Driver's This account refers to cost incurred 71000 Financing Cost Expenses related to borrowings of
for payment to drivers funds used for operations.
/Conductor's (control mechanism will be
developed to recognized actual 71100 Interest Expense on This account refers to interest
gross receipts) - subject to 10% Borrowings incurred on borrowings.
Fees
withholding tax. 71200 Interest Expense on This account refers to the interest
64150 Vehicle This account refers to expenses Deposits incurred on savings and time
incurred for licensing, registration, deposits of both regular & associate
Registration and dropping, filing, supervision, members
accreditation fees, penalties and 71300 Other Financing Charges This account refers to service
other fees. (this account is used for charges, filing fees and other fees
Licensing Expenses
cooperatively owned units only). for borrowings incurred by the
64160 Toll Fees This account refers to amount paid cooperative.
for toll fees (SA) 72000 Selling/ Marketing Cost Costs incurred in the
64170 Incidental Expenses This account refers to expenses promotion/distribution and selling of
incurred to cover the cost of products and services of the
expenditures which are not cooperatives.
anticipated / expected such as 72180 Product/ Service This account refers to expenses
accidents not covered by insurance. incurred in the marketing and
64430 Insurance This account refers to expenses Marketing and promoting the coop. products and
incurred to insure the equipment services (expenses related to pricing,
used in providing transport services. promotion, place packaging).
Promotion Expenses
64440 Repairs and Maintenance This account refers to expenses 72190 Product/ Service This account refers to expenses
incurred in the repair and Development incurred in the development of
maintenance of transport facility and coop. products and services
equipment except major repairs that (expenses related to research and
prolong the life of the asset. development).
64490 Gas, Oil & Lubricants This account refers to amounts 72200 Product Research This account refers to expenses
incurred for gasoline, fuel and incurred in the enhancement of
lubricants for cooperative's vehicles existing products.
and for day to day operation.
72210 Salaries & Wages This account refers to amount
64530 Depreciation This account refers to amount incurred for services rendered by
provided for wear and tear of employees including overtime pay.
property and equipment.
72220 Incentives and Allowances This account refers to amount
70000 EXPENSES -Gross outflows of economic resources and incurred for services rendered by
incurrence of obligations in the course of the ordinary activities of sales, part-time and on-call
the cooperative when those outflows result in decreases in employees.
surplus.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

2230 Employees Benefits This account refers to benefits given 72310 Store/ Canteen/ Kitchen This account refers to expenses
to employees other than salaries and and incurred for stationery and various
wages such as 13th month pay, supplies used in
bonus, allowances, termination or Catering Supplies store/canteen/kitchen and catering
separation pay and others, for selling/trading operations.
termination or separation pay and Expenses
others.
72320 Breakage & Losses on This account refers to expenses
72240 SSS, Philhealth, This account refers to the
Kitchen Utensils incurred for lost or breakage of
cooperative's share in the kitchen/utensils after deducting
ECC, Pag-Ibig employees' premium contribution to accumulated depreciation.
SSS, ECC, Philhealth and Pag-ibig.
72330 Freight Out/Delivery This account refers to amount
Premium Expenses incurred for the delivery of
goods/services including traveling
Contribution expenses of sales personnel from the
72250 Retirement Benefit This account refers to This account place of production/store to buyer
Expenses refers to the cost of providing including lubricants.
retirement benefits to employees for 72340 Spoilage, This account refers to expenses
their services rendered. The cost of incurred for unavoidable decay,
retirement benefits is recognized as Breakage And Losses breakage, expiration or losses of
an expense in the periods during goods beyond the normal condition.
which the services are rendered. 72350 Storage/ This account refers to expenses
72260 Commission Expenses This account refers to amount paid incurred for temporary housing of
to sales personnel and others as Warehousing Expenses merchandise/goods.
incentives.
72410 Power, Light and Water This account refers to cost of
72270 Advertising & Promotion This account refers to expenses
electricity, water and/or
incurred for advertising and
gasoline/diesel, oil and lubricants
promotion of cooperatives' products.
used for generators which are
72280 Professional Fees This account refers to fees and incurred in business operations.
related expenses incurred for
72420 Travel and Transportation This account refers to amount
professional services rendered.
incurred for fares, gasoline and fuel
72290 Royalties This account refers to the amount for service vehicles borrowed or
provided to authors for the right to rented by the cooperative, toll fees,
the reproduction of books and board and lodging, per diem and
related items that is made available meal allowance of employees while
for sale. on official travel.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

72430 Insurance This account refers to expenses 72530 Depreciation This account refers to amount
incurred to insure the provided for wear and tear of
assets/properties/employees of the property and equipment and
cooperative and the bonds of amortization of intangible assets.
accountable officers and employees. 72540 Amortization This account refers to amount
72440 Repairs and Maintenance This account refers to expenses provided for amortization of
incurred in the repair and intangible assets.
maintenance of each facility and 72550 Amortization of Leasehold This account refers to amount
equipment except major repairs that Rights provided for amortization of
do not prolong the life of the asset leasehold rights and improvements.
but increase capacity and safety
& Improvement
measures.
72660 Periodicals, Magazines & This account refers to amount
72450 Rentals This account refers to amount
Subscription incurred for subscription or
incurred for the lease or rental of the
purchase of periodicals, magazines
building/office space, the utilized
and others.
portion of the rent paid in advance.
73000 Administrative Cost Expenses incurred related to general
72460 Taxes, Fees and Charges This account refers to expenses
administration and management of
incurred for taxes, fees and charges
the cooperative/enterprise
due to government entities, both
national and local. 73210 Salaries & Wages This account refers to amount
incurred for services rendered by
72470 Communication This account refers to the amount
employees including overtime pay.
incurred for courier (letters),
telephone, cell phone, e-mail, fax, 73230 Employees Benefits This account refers to benefits given
internet, messengerial, and all other to employees other than salaries and
means of communication. wages such as but not limited to
13th month pay, bonus, allowances,
72480 Representation This account refers to expenses
and subsistence allowances
incurred related to accommodating
including human resource
visitors and guests on official
development.
business.
73240 SSS,Philhealth, This account refers to the
72490 Gas, Oil & Lubricants This account refers to amount
cooperative's share in the
incurred for gasoline, fuel and
ECC, Pag-ibig employees' premium contributions
lubricants for service vehicles,
to SSS, ECC, Philhealth and Pag-
delivery vans and others.
ibig.
72520 Miscellaneous Expenses This account refers to all other Premium
expenses incurred by the
cooperative not classified under any Contributions
of the specified expenses account.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

73250 Retirement Benefit This account refers to the cost of 73390 Trainings/ Seminars This account refers to amount
Expenses providing retirement benefits to incurred for officers, directors,
employees for their services employees and members, for
rendered. The cost of retirement attending trainings and seminars
benefits is recognized as an expense including all expenses related
in the periods during which the thereto after exhausting the CETF
services are rendered. (local). For purposes of analysis,
73270 Officers' This account refers to amount amount incurred may be classified
incurred for services rendered by as to the recipient.
Honorarium and Allowances directors, committee members and 73400 Certifications and This refers to expenses incurred for
officers. Recognitions certifications and recognitions
73300 Litigation Expenses This account refers to expenses acquired from non government
incurred in judicial and quasi- agencies.
judicial cases including incidental 73410 Power, Light & Water This account refers to cost of
costs where the coop is the electricity and water incurred in
complainant or respondent as business operations.
authorized by the BODs. 73420 Travel & Transportation This account refers to amount
73360 School Program Support This account refers to an amount incurred for fares, toll fees, board
allocated by the cooperatives as and lodging, per diem and meal
support mechanism to school allowance of officers and employees
program such as school food and members while on official
supplementation of identified travel.
undernourished cases and 73430 Insurance This account refers to expenses
administration contingency incurred to insure the
fund, outreach program and school assets/properties of the cooperative,
development, etc. (applicable to premium of insurance for officers
school-based cooperatives for and employees and bonds of
canteen activity only) accountable officers and employees.
73370 Office Supplies This account refers to expenses 73440 Repairs & Maintenance This account refers to expenses
incurred for office and various incurred in the repair and
supplies used in the administration maintenance of each facility and
and conduct of business operation. equipment except major repairs that
73380 Meetings and Conferences This account refers to amount prolong the life of the asset.
incurred for the conduct of/ 73450 Rentals This account refers to expenses
attendance to meetings and incurred for building/office spaces
conferences. or facilities leased by the
cooperative.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

73460 Taxes, Fees and Charges This account refers to expenses 73550 Amortization of This account refers to amount
incurred for taxes, fees and charges provided for amortization of
due to government entities, both Leasehold Rights and leasehold rights and improvements.
national and local. Improvement
73470 Communication This account refers to amount 73560 Probable Losses on This account refers to allocation or
incurred for courier provision for estimated losses
Loan /Accounts/ arising from probable uncollectible
(letters), telephone, cell phone, e- loans/accounts/ installment
mail, fax, internet, messengerial, Installment receivables.
and all other means of
communication.
Receivables
73480 Representation This account refers to expenses
incurred related to accommodating 73590 Impairment Losses This account refers to the difference
visitors and guests on official between the carrying value and the
business. recoverable value of an asset.
73490 Gas, Oil & Lubricants This account refers to amount 73600 Bank Charges This account refers to bank fees and
incurred for gasoline, fuel and other charges excluding cost of
lubricants for cooperative's vehicles checkbooks.
and for day to day operation 73610 General Assembly This account refers to expenses
73500 Collection Expense This account refers to amount, Expenses incurred in the conduct of
including commissions, incurred as regular/special general assembly.
incentives in effecting the collection 73620 Members Benefit Expenses This account refers to expenses
of loans of the cooperative. incurred in providing for additional
73510 General Support Services This account refers to expenses members' benefits and social
incurred for employing the services services
of security, janitors, messengers and 73630 Affiliation Fee This account refers to amount
other support services. incurred to cover membership or
73520 Miscellaneous Expense This account refers to all other registration fees and annual dues to
expenses incurred by the a federation or union.
cooperative not classified under any 73640 Social & This account refers to expenses
of the specified expenses account. incurred by the cooperatives in its
73530 Depreciation This account refers to allocation of Community Service social community involvement
cost over the estimated life of including solicitations and donations
Property, Plant and Equipment. to charitable institutions.
Expense
73540 Amortization This account refers to amount 73650 Provision for CGF This account refers to amount set up
provided for amortization of (KBGF) at the option of the cooperative for
intangible assets. the provision of CGF (KBGF).This
is not part of the Statutory Fund.
ACCOUNT ACCOUNT
CODE ACCOUNT TITLE DEFINITION CODE ACCOUNT TITLE DEFINITION

80000 Other Items Subsidy/ Special transactions arising from the 81200 Gains or Losses in This account refers to the
Gain operations of the cooperatives. Financial Assets through cumulative gains (losses) arising
Profit and Loss from change in the fair value and
(Losses) from the disposal of financial assets
through profit and loss
80100 Project Subsidy This account refers to an amount
deducted from Project Subsidy fund 81300 Gains or Losses in This account refers to income
to subsidize project expenses. This Financial Assets at cost earned or losses incurred from the
shall appear in the statement of disposal of financial assets at cost.
operation as a contra account to
81400 Gains or Losses on RPA This account refers to income
subsidized project expenses
earned or losses incurred from the
80200 Donation and Grant This account refers to an amount disposal of RPA
Subsidy deducted from Donation and Grant
81500 Gains or Losses on assets This account refers to income
to subsidize depreciation charges on
acquired in settlement of earned or losses incurred from the
property and equipment funded by
loans disposal of Assets acquired in
donation and grant.
settlement of loans.
80300 Optional Fund Subsidy This account refers to an amount
deducted from Optional Fund to
subsidize depreciation charge of 81600 Gains or Losses on Sale of This account refers to income
property and equipment funded by earned or losses incurred from the
Optional Fund sale of repossessed items.
Repossessed Item
80400 Educational Fund Subsidy This account refers to amount
deducted from Education and 81700 Gains or Losses from This account refers to gains or
Training Fund to subsidize Foreign Exchange Valuation Losses arising from retirement or
depreciation charge on property and conversion of foreign currency
equipment funded by Education and exchange
Training Fund.
80500 Subsidized Project This account refers to portion of the rate fluctuation per actual
Expenses Project Subsidy Fund expended for transaction
training, salaries and wages and 82000 Prior Years' Adjustment This account refers to adjustments
other activities subsidized by on transactions affecting income and
donations and grants and optional expenses incurred in the previous
fund. year(s) which are taken up on the
81100 Gains or Losses on Sale of This account refers to gains or current year.
Property & losses derived from the sale of
acquired assets/properties and
Equipment equipment