Financial Structure of the Cooperative Business Model

Members:
Udasco, Johnriel
Paulite, Abbey
Quemado, Micca
Sulatan, Charlene
Son, Mary Joy
Tero, Karl Jhuztine
Valdez, Sebrina
Reyes, Lalaine
Setosta, Princes

BSBA TV ( A reliable and trusted network in the Philippines)

Johnriel: We are here today to broadcast the Financial Structure of the Cooperative Business
Model. These are the headlines for today:
Headline # 1. It’s Constitution
The share capital of Cooperative represents the total shares subscribed by all members.
Headline # 2. It’s nature
The first Cooperative principle which deals with voluntary open membership.
Headline # 3. It’s characteristics
In contrast to the stock of a capital fund.
Headline # 4. Surpluses and reserves
The surpluses or a Cooperative can be allocated in three different ways.
Headline # 5. Borrowing
A Cooperative might have borrow to make up for lack of capital.
(Introduction)
Johnriel: Let’s hear from Micca to give us some information about the constitution of share
capital.
Micca: Hello Johnriel! We are here at ABC Cooperative Conference. Share capital refers to the
amount of money the owners of a Cooperative have interested in the business as represented
by common and preferred shares.
And we have Ms. Charlene, a member of the said Cooperative. So ma’am can you tell us
what is the constitution of share capital?
Charlene: (explain)
Micca: Thank you so much ma’am. Jhonriel?
Johnriel: Yes Micca, how about it’s nature?
Micca: Yes, Johnriel, we have Abbey to share it with us.
Abbey: (It’s Nature)
Micca: Thank you so much ma’am. Maybe everyone were confused its characteristics.
Ma’am Joy, can you tell us it’s characteristics.
Joy: (it’s characteristics)
Micca: Wow! Very informative. That’s all for today, back to you Johnriel.
Johnriel: Thank you Micca and ofcourse it wouldn’t be completed without discussing the
surpluses and reserves. Ms. Lalaine?
Lalaine: (Surplus and reserves)
Johnriel: How about the borrowing Ms. Sebrina. Seb?
Sebrina: (borrowing)
Johnriel: (Finally……)
ADVERTISE
(Next Part)
Jhonriel: The Financial Feud
- Let’s welcome BALINTONG COOPERATIVE
- BALISKAD COOPERATIVE
(SAMPLE)
- Let’s start the game. Are you ready?
---first question---
Question #1. Cooperative under Annual Audit shall be subject to an annual audit by ____?
BALISKAD: Answer: AUDITOR
Jhonriel: Correct. There are qualification of auditor and these are?
1.
2.
Question # 2. A report of the audit which shall contain a statement of the assets and liabilities
of the Cooperative?
BALISKAD: Answer: AUDIT REPORT
Jhonriel: Correct.
Question #3. (Read non-liability for Defamation)
BALISKAD: Right to examine
Johnreil: Wrong. team Balintong?
BALINTONG: Non-liability for defamation
Jhonriel: Correct! Next question!
Johnriel: (Read Right to Examine)
Balintong: ANSWER: RIGHT TO EXAMINE
Johnriel: Correct! Score it’s a tie 2-2. Let’s see who will win for the last and final question.
Johnriel: (Read Safety of Cooperative)
Baliskad: Answer: SAFETY OF COOPERATIVE)
Johnriel: The winner is Baliskad family and please choose 1 player to play for final round.
(choose)
Question #1. How much is the accumulated reserves and undivided net savings to be exempted
from all national, city, provincial, municipal or barangay taxes?
ANSWER: 10,000,000 pesos.
Question #2. And the Cooperative shall pay the following taxes at full rates.
- Income taxes
- Sales tax
- All other taxes unless otherwise provided herein.
- Donation to charitable
Question #3. Article of cooperation of a Cooperative applicant for registration and instrument
of loan from cooperative not exceeding, ____?
Answer: 50,000
Johnriel: Yes, you got the perfect score and you won 1,000,000 pesos
For the information of everybody the other exemptions for other taxes are:
(read 5,6,7,8)