Accounting of Cooperatives SFAS No.

27 (1998 revision)

STATEMENT OF FINANCIAL ACCOUNTING STANDARD NO. 27 (1998

REVISION)

ACCOUNTING OF COOPERATIVES

Paragraphs printed in bold letters are standard paragraphs, which must be read in the
context of the explanatory paragraphs and implementation guidance printed in normal
letters. There is no requirement to apply this statement of Financial Accounting
Standard-Accounting of Cooperatives on items considered to be immaterial.

PREFACE

Characteristics of a Cooperative

01. A cooperative is an entity, which organizes the utilization and efficient usage of
the economic resources of its members based on the principles of a Cooperative
and the norms of economic efforts to increase the living condition of its members
in particular and the community in which its operates in general. Accordingly, a
cooperative is a people’s economic movement and the main pillar of the national
economy.

02. The principles of a cooperative constitute the basic ground for a cooperative to
conduct its business as an entity and people’s economic movement. These
principles comprise: stand alone, open membership, democratic management, the
distribution of the net operating result is made on an equitable basis
proportionate to the contribution of each member, a limited compensation on
capital, cooperative education and cooperation between cooperatives.

03. The main characteristic of a cooperative, which differentiates it from other

entities is that the member of a cooperative has a dual identity, namely as an
owner and at the same time as user of the cooperative’s services (user own
oriented firm). Therefore :

a. A cooperative is owned by members who are participating based on at least

one of the same economic interests.
b. A cooperative is established and developed based on the self confidence
value to help and be responsible to oneself, solidarity, justice equality
and democracy. In addition, members of a cooperative believe in the
value of the ethics of honesty, openness, social responsibility and care
for others.
c. A cooperative is established, provided with capital, financed, managed,
supervised and utilized by its own members.
d. The main task of a cooperative is to support the economic interest of its
members in the framework of promoting the members’ welfare.
e. If there is an excess service capacity of the cooperative for its members, the
excess service capacity may be used to meet the need of the community who
are non-members of the cooperative.

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04. In promoting the welfare of its members, a cooperative is not only required to
promote the economic efforts of its members, but also to develop the members’
resources through continuous and higher education, so that the members will
become more professional and will be able to keep up with the development of
their business activities.

05. As the activator of the people’s economy and the main pillar of the national
economy, the government has a very strong interest in the success of the
cooperatives. Accordingly, the government plays an important role in the
development, protection and providing business opportunities to the
cooperatives. With respect to the development, protection and providing
business opportunities, the cooperatives must be guided by the provisions
stipulated by the government. These provisions affect the accounting treatment
of the cooperatives.

The structure of organization of a Cooperative

06. The cooperatives are divided into Primary and Secondary Cooperatives. A
primary cooperative is a cooperative with individual membership. A secondary
cooperative is a cooperative, the members of which are cooperative legal bodies.

07. The amount of member’s ownership in a cooperative, either in a primary or

secondary cooperative, is in principle the same. Therefore, there is no majority
and minority ownership in a cooperative. Accordingly the financial statements of
a primary and secondary cooperatives are not consolidated.

The business and types of Cooperatives

08. A cooperative can conduct businesses as any other entities, such as in the trade
sector, in the manufacturing industry, financial services and financing, insurance
services, transportation services, professional services and other services. The
accounting treatment of the cooperatives shall refer to the statement of the
financial accounting standard which regulated the accounting treatment in each
of the sector of industry.

09. Cooperatives can be categorized into several types. However, based on the
interest of the members and the main business of the cooperatives, they are
categorized into four types, namely consumer cooperatives, producer
cooperatives, saving and borrowing cooperatives and marketing cooperatives.

Objective

10. The objective of this statement is to regulate the accounting treatment arising
from transaction relationship between the cooperative and its members and other
specific transactions of a cooperative. This statement covers the regulations on
the recognition measurement, presentation and disclosures in the financial
statements.

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Scope

11. This statement regulates the accounting of cooperative entities for transactions
arising from the cooperative’s relations with its members, namely transaction of
the contribution of the members of the cooperative, business transactions of the
cooperative with its members, and other specific transactions in a cooperative
entity, among other reserves, capital participation, capital donations, expenses of
the cooperative, and the presentation and disclosures in the financial statements.

12. This statement does not regulate transactions arising from the cooperative’s
relations with non-members. Such transactions shall be treated the same as
transactions occurring in other business entities.

13. Matters of a general nature or which are not specifically regulated in this
statement, including accounting of transactions for an autonomous business unit
of a cooperatives, shall be treated with reference to the other statements of
Financial Accounting Standards.

14. This statement is applicable to financial statements for presentation to external

parties, namely the members of the cooperative, the government, creditor and
other interested parties.

15. The government as one of the parties using the financial statements of a
cooperative, may require specific information for certain purposes. This
statement does not regulate the presentation of report for the government. The
presentation of the specific information is regulated in a separate accounting
guidance referring to this statement.

16. Various types of cooperatives, for example Consumer Cooperatives, Producer

Cooperatives, Saving and Borrowing Cooperatives and Marketing Cooperatives
may show their own specific characteristics in the presentation of their financial
statements, and this can be regulated in a separate accounting guidance referring
to this statement.

Definitions

The followings are definitions of terms used in this statement.

17. Cooperative is a business entity, the members of which are individual persons or
cooperative legal bodies basing its activities on the principles of a Cooperative
and at the same time as a people’s economic movement based on the family
principle.

18. Member of a cooperative is the owner and at the same the user of the
cooperative services, who has paid in full the stipulated principal contribution.

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19. Consumer cooperative is a cooperative, the members of which are the end
consumers or the users of goods or services, and the main activity or service is
to make collective purchases. An example of a consumer cooperative is a
cooperative, the main activity of which is managing a retail shop or a
supermarket.

20. Producer cooperative is a cooperative, the members of which do not have a

household or an enterprise of their own but work together under the umbrella of
a cooperative to produce and market goods or services and its main activity is to
provide, operate and manage a production facility jointly. An example of a
Producer cooperative is a Consulting Services Cooperative.

21. Saving and borrowing cooperative is a cooperative, the main activity or the
main service of which is to provide saving and borrowing services to its
members.

22. Marketing cooperative is a cooperative, the members of which are producers,

owner of goods or provider of services and its main activity or service is to
perform joint marketing.

23. Principal contribution is the equal amount of money and or equal value of
money, which must be paid by a member to the cooperative at the time he
becomes a member. The principal contribution cannot be withdrawn as long as
the individual is a member.

24. Obligatory contribution is a certain contribution, which does not have to be

equal in amount, that must be paid by a member to the cooperative in a certain
time and opportunity. An obligatory contribution cannot be withdrawn as long
as the individual is a member.

25. Member’s capital is the principal contributions and obligatory contribution

which must be paid by a member to the cooperative in accordance with the
prevailing provisions in the cooperative. Each member has the same voting
right, regardless of the amount of his member’s capital in the cooperative.

26. Donated capital is the amount of money or capital good, which can be valued in
money received from other parties as a gift and is not binding. A donated capital
cannot be distributed to the members until the cooperative is dissolved.

27. Participating capital is the amount of money or capital goods, which can be
valued in money invested by the investor to add and strengthen the capital
structure in enhancing the business of the cooperative.

28. Reserve is part of balance of the operating result set aside in accordance with
the provisions of the Articles of Association or a decision of the members’
meeting.

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29. Gross participation is the members’ contribution to the cooperative as

compensation for the deliveries of goods and services to the members, which
includes cost of sales and net participation.

30. Net participation is the members’ contribution to the operating result of the
cooperative, which represents the difference between gross participation and
basic expenses.

31. Revenues from non-members are sales of good/services to non-members.

32. Cooperative’s burden are expenses related to the cooperative movements

which are not related to the business activities.

33. Balance of Operating Result is the combination of the results of net

participation and the gross profit or loss with non-members, plus or minus other
income and expenses and the cooperative’s burden and the income tax of the
cooperative body.

34. Promotion of members’ economy is the enhancement of the cooperative

services to its members in the form of economic benefit obtained as a member of
the cooperative.

35. Autonomous Activity Unit is part of the organization that stand alone which
specific activities and members in a cooperative, so that the autonomous activity
unit is equal to an accounting entity. For example, a village unit cooperative
(KUD) has an autonomous activity unit for saving and borrowing, an
autonomous activity unit for consumers and an autonomous activity unit for
distribution.
EXPLANATION

EQUITY

36. The equity of a cooperative comprises the members capital in the form of
principal contributions with the same characteristics of the principal contribution
or obligatory contribution, participating capital, donated capital, reserve and the
balance of operating results.
Members’ capital

37. The principal contribution, obligatory contributions with the same characteristics
of the principal contribution or obligatory contribution shall be recognized as the
equity of the cooperative and shall be recorded at their nominal values.

38. Formally, a member shall be recognized as a member of the cooperative, if he has

deposited a certain amount of money as principal contribution at the time he
becomes a member for the first time. In addition, he must also deposit a certain
amount of money on a periodic basis as obligatory contributions.

39. The principal contribution is an equal amount of money, which must be paid by a
member to the cooperative at the time he becomes a member. The obligatory
contribution is a certain amount of contribution, which does not have to be the

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same, that must be paid by a member to the cooperative curing a certain period
and opportunity.

40. The principal and obligatory contributions function as a risk coverage and
therefore cannot be withdrawn as long as the individual is still a member. An
obligatory contribution which is related to the member’s loan and other types of
obligatory contributions, which in practice can be withdrawn after the loan is
settled or at certain times, cannot be recognized as equity.

41. Although the principal and obligatory contributions can be withdrawn, if the
individual resign from the membership of the cooperative, it is however assumed
that a member of the cooperative will remain to be a member for an unlimited
period of time. Therefore, the principal and obligatory contributions are
permanent in nature.

42. Principal and obligatory contributions which have not been received shall be
presented as receivables of principal and obligatory contributions.

43. The payments of principal and obligatory contributions can be made in

installments, the amounts and the period of which shall be determined in the
articles of incorporation or other provisions. The presentation of the values of
principal and obligatory contributions on the balance sheet shall be by presenting
the nominal values of the principal and obligatory contributions. The amounts of
principal and obligatory contributions which have not been received yet from the
members shall be presented as receivables of principal and obligatory
contributions.

44. Any excess of deposits for principal and obligatory contributions from new
members over the nominal value of the principal and obligatory
contributions from founder members shall be recognized as equalizing
capital of member participation.

45. The members’ meeting can determine the amounts of deposits for principal and
for obligatory contributions for new members, who join the cooperative later, the
amounts of which shall be equal to the amounts of principal and obligatory
contributions for founder members. If there is an excess over the nominal value
of the principal and obligatory contributions for founder members, such excess
shall be recognized as equalizing capital of member participation. This capital is
not owned by the depositor member, and therefore cannot be withdrawn at the
time the member resigns from the cooperative’s membership.

46. If the cooperative also determines another contribution other than the principal
and obligatory contributions as equity, then any excess of contributions over the
nominal value of the contribution by a new member shall also be recognized as
equalizing capital of member participation.

Participating Capital

47. Participating capital is recognized as equity and shall be recorded at the

deposited nominal amount. In case the participating capital is received in the

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form other cash, the participating capital shall be valued at the market price
prevailing at the time of receipt.

48. A participating capital shares to cover the risk of losses and has a relatively
permanent nature. Compensation to the capital provider will be based on the
results obtained. Therefore, participating capital is recognized as equity.

49. A participating capital shall be recorded at the nominal value, and in case the
participating capital is received in the form other than cash, the participating
capital shall be recorded at the market price prevailing at the time of receipt. If a
market price is not available, an estimated price may be used. Sufficient
explanation must be disclosed in the notes to the financial statements on the
valuation made.

50. The provisions regarding the agreement with the capital provider relating
to the distribution of profit or operating result, the sharing of losses, time
period and the rights of the capital provider must be explained in the notes
to the financial statements.

Donated capital

51. Donated capital received by a cooperative which can be used to cover

losses, shall be recognized as equity, while donated capital, which in
substance represents a loan shall be recognized as a long term debt. This
should be explained in the notes to the financial statements.

52. As the cooperatives are carrying out a national mission to activate the people’s
economy and functions as the main pillar of the national economy, they may
receive donations from the government or other parties. These donations shall
be recognized as equity, if they can be used to cover the risk of losses.

53. Sometime a donation is received by a cooperative under a restricted condition,

so that the donation is in essence a loan. Such donation cannot be recognized as
equity, but must be recognized as other long term debt and explained in the notes
to the financial statements.

Reserves

54. A reserve and the purpose of its use must be explained in the notes to the
financial statements.

55. The creation of a reserve can be directed, among other for the development of
the business of the cooperative, to cover the risk of losses and for distribution to
members who resign from the cooperative’s membership. A reserve established
from the balance of the operating results shall be recorded in a reserve account.
The purpose of the use of the reserve must be explained in the notes to the
financial statements.

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56. Additional payments made to members who resign from the cooperative
membership over the principal and obligatory contributions and other
contributions shall be charged to the reserve.

57. A reserve, which is established from the balance of the operating results obtained
each book year intended for the accumulation of capital to be used for the
business development and to cover the risk of loss, represents part of the equity.
As part of the equity, the reserve will affect the net worth of the cooperative,
which reflects the value of the members’ ownership in the cooperative.
Accordingly, a cooperative can determine an additional payment in an amount
proportionate to the value of the net worth of the cooperative or a certain
amount determined in the members’ meeting to a member, who resigns from the
cooperative membership during the current year, in addition to the refund of the
principal, obligatory and other contributions at the nominal values. The
additional payment shall be charged to the reserve of the cooperative.

Balance of Operating result

58. The balance of the operating result shall be distributed in accordance with
the provisions in effect in the cooperative. In the event, the types and the
amount to be distributed have already been regulated clearly, the portion
that is not the right of the cooperative shall be recognized as a liability. If
the types and the amount to be distributed have not been clearly regulated
yet, the balance of the operating result shall be recorded as undistributed
balance of the operating result, which must be explained in the notes to the
financial statements.
59. It is usual in a cooperative, that the balance of the operating result for the
current year is distributed in accordance with the provisions of the Articles of
Incorporation or the by-law. The requirement to distribute the balance of the
operating result is also stated in the Law on Cooperatives. The balance of the
operating result is distributed among other to the members, educational fund,
and to the cooperative itself. The amount, which represents the right of the
cooperative shall be recognized as reserve.

60. The distribution of the balance of the operating result shall be made at the end
of the accounting period. The amounts allocated other than to the cooperative
shall be recognized as liabilities. In the event a distribution cannot be made,
because the types and the amounts to be distributed have not been clearly
regulated yet in the Articles of Incorporation or the by-Law, but must wait for a
decision of the members’ meeting, the balance of the operating result shall be
recorded as an undistributed balance of operating result and must be explained in
the notes to the financial statements.

LIABILITIES

61. Members’ contributions with no characteristics of an equity shall be

recognized as short term or long term liabilities in accordance with the
maturity dates and shall be recorded at their nominal values.

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62. Members’ contributions with an equity characteristic are certain amounts in

money value transferred by the members to the cooperative at their own will as a
deposit, which can be withdrawn at any time in accordance with the agreement.
These deposits do not bear the risk of losses and are temporary in nature, and
therefore are recognized as liabilities.

ASSETS

63. Assets obtained from donations, the use of which are restricted and cannot be
sold to cover losses of the cooperative are recognized as other assets. The type
of restriction applicable to the use of the assets shall be explained in the notes to
the financial statements.

64. As an activator of the people’s economy and the main pillar of the national
economy, a cooperative often receives assistance from various parties in the form
of gift or donation of capital goods to conduct its business. Such capital goods
can be recognized as fixed assets owned by the cooperative, although the fixed
assets cannot be sold to cover the risk of losses. In the event the fixed asset
cannot be used to cover the risk of losses as conditioned by the donor or as
stipulated in the deed of the donation, the fixed asset shall be classified as other
asset. The type of restriction applicable to the use of the asset shall be explained
in the notes to the financial statements.

65. Assets managed by the cooperative, but which are not owned by the
cooperative shall not be recognized as assets and must be explained in the
notes to the financial statements.

66. The members’ meeting of the cooperative can approve a fund raising from the
members to be used for a certain purpose in line with the members’ interest.
Such fund is owned by the members, the management of which is entrusted to
the cooperative, for example a fund for the maintenance of road and rejuvenation
of plantation. Such fund is not recognized as the asset of the cooperative.
However, the fund must be accounted for separately by the cooperative, as the
management of the fund. The existence of such fund must be explained in the
notes to the financial statements.

INCOME AND EXPENSES

Business transactions of the cooperative with the members

67. The income of a cooperative from transactions with the members shall be
recognized in the amount of the gross participation.

68. A gross participation is basically the sale of goods/services to the member. In the
activity of providing goods and services to the members, the gross participation
is calculated on the price of service obtained or paid by the member, which
covers basic expenses and net participation. In the activity of marketing the
production of the members, gross participation is calculated on the selling
expenses of the members’ production, either to non-members or to members.

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69. The income of the cooperative originating from transactions with non-
members shall be recognized as revenue (sale) and shall be reported
separately from members’ participation in the report of the calculation of
the operating result in the amount of the transaction value. The difference
between revenue and basic expenses of the transaction with non-members
shall be recognized as gross profit or loss from non-members.

70. In the event a cooperative has excess capacity after servicing its members, the
cooperative can utilize the excess capacity for non-members. In this case, the
cooperative has entered the free market and the function of the cooperative is
the same as other business entities. The cooperative can use a motivation to
obtain maximum profit to the extent the customers are in the free market.

71. As the financial report of a cooperative must reflect the objective of the
cooperative, the calculation of operating result must clearly show the business
activities of the cooperative with its members. Therefore revenues from
members shall be presented separately from revenues originating from
transactions with non-members. Such presentation will more reflect the fact that
the cooperative places more importance to the transactions with or services to its
members than to non-members.

72. Operating expenses and cooperative expenses must be presented separately

in the report of the calculation of operating result.

73. In enhancing the welfare of the members, a cooperative not only functions to
performs business activities, which provide an economic benefit or profit to the
members, but must also perform another function to increase the capability of
the member’s resources, either on a specific basis or the cooperative resources
on a national basis. These activities are not performed by other business entities.
Expenses incurred for those activities are referred to as cooperative expenses.
Included under these expenses are among other members’ training expenses,
expenses for development of members’ businesses, and contribution expenses for
the cooperative movement (Council of the Indonesian Cooperatives).

FINANCIAL STATEMENTS OF THE COOPERATIVE

74. The financial statements of a cooperative cover the Balance Sheet,

calculation of the operating result, Cash Flow Report, Report on the
Promotion of members’ economy and the notes to the Financial Statements.

Balance Sheet

75. The balance sheet presents information regarding the assets, liabilities and equity
of the cooperative at a certain time.

Calculation of Operating Result (PHU)

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76. The calculation of operating result must contain the operating result from
transactions with members and the gross profit or loss from transactions
with non-members.

77. The calculation of operating result presents information regarding revenues and
operating expenses and cooperative expenses during a certain period. The
calculation of operating result presents the end result which is called the balance
of operating result. The balance of operating result obtained covers operating
result from transactions with members and the gross profit or loss from
transactions with non-members. The term calculation of operating result if used
considering that the benefit of the cooperative’s business is not solely measured
by the balance of operating result or profit, but is more determined by the benefit
to the members.

Cash Flow Report

78. The cash flow report presents information regarding changes in cash covering
the opening balance of cash, sources of cash receipts, cash disbursements and the
ending cash balance at the end of a certain period.

Report on the Promotion of members’ economy

79. In the event the balance of operating result for the current year has not
been distributed yet, the economic benefit obtained by the members from
the distribution of the operating result at the end of the bookyear can be
recorded at the estimated balance of the operating result at the end of the
bookyear, which will be distributed to the members.

80. The report on the promotion of members’ economy is a report showing the
economic benefit obtained by the members of the cooperative during a certain
year. The report covers four components, namely :

a. the economic benefit from the joint purchases of goods or providing of

services
b. the economic benefit from joint marketing and processing
c. the economic benefit from saving and borrowing through the cooperative
d. the economic benefit in the form of the distribution of the balance of the
operating result
.
81. The benefits cover the benefits obtained during the current year from
transactions of services performed by the cooperative for its members and the
benefit obtained at the end of the year from the distribution of the balance of the
operating result for the current year. The report on the promotion of members’
economy shall be adjusted to the types of the cooperative and the business
conducted.

82. The balance of the operating result must be distributed in accordance with the
provisions of the budget and the by-law of the cooperative. The portion of the
balance of operating result for the members represents the economic benefit

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obtained by the members at the end of the bookyear. In the event the balance of
the operating result is not distributed yet, because the distribution of which is not
clearly regulated in the Articles of Incorporation or the by-law and must wait for
a decision of the members’ meeting, the economic benefit obtained from the
distribution of the balance of the operating result can be recorded based on the
estimated amount of the portion of the balance of operating result which will be
received by the members.

Notes on the Financial Statements

83. The notes on the Financial Statements present disclosures containing :

a. Accounting treatments among other regarding :

1. Recognition of revenues and expenses relating to the transactions of

the cooperative with the members and non-members.
2. Accounting policies on fixed assets, inventory valuation, receivables,
etc.
3. The basis for pricing of services to members and non-members.

b. Disclosure of information, among others :

1. The activities or main services of the cooperative to the members,

either those contained in the Article of Incorporation, the by law
or in practice or what have been achieved by the cooperative.
2. The activities of the cooperative in developing resources and
promoting the economic activities of the members, education and
training on cooperatives, management performed for the members
and creation of new business opportunities for the members.
3. Conditional commitments or obligations resulting from transactions of
the cooperative with the members and non-members
4. Classification of receivables and payables arising from transactions of
the cooperative with the members and non-members.
5. Restrictions on the use and the risks of fixed assets obtained as a gift or
donation.
6. Assets operated by but not owned by the cooperative.
7. Assets obtained as a gift in the form of transfer of shares of a private
company
8. Distribution of the balance of operating result and the use of reserve.
9. The right and obligation of the provider of participating capital.
10. The organization of the members’ meeting and important decisions
affecting the accounting treatment and presentation of the financial
statements.

EFFECTIVE DATE

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84. This statement becomes effective for financial statements beginning with or after
1 January, 1999.

ATTACHMENT

The attachment is only an illustration and is not part of the statement of the Financial
Accounting Standard. The purpose of the attachment is to illustrate the application of
this statement. The sequence of presentation and descriptions can be changed, if
required, in accordance with the conditions of each cooperative, so that the financial
statements can be properly presented.

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PEOPLE’S DEVELOPMENT COOPERATIVE

BALANCE SHEET
31 December 19x1 and 19x0
ASSETS 19X1 19X0

CURRENT ASSETS
Cash on Hand and in Banks xxxx xxxx
Short Term Investments xxxx xxxx
Receivables
Loan receivables - members xxxx xxxx
Loan receivables - non members xxxx xxxx
Other receivables xxxx xxxx
Allowance for non-collectible receivables (xxxx) (xxxx)
Inventories xxxx xxxx
Accrued income receivables xxxx xxxx
Total Current Assets xxxx xxxx

LONG TERM INVESTMENTS

Participation in Cooperatives xxxx xxxx
Participation in non-cooperatives xxxx xxxx
Total Long Term Investments xxxx xxxx

FIXED ASSETS
Land/Right on Land xxxx xxxx
Buildings xxxx xxxx
Machineries xxxx xxxx
Equipment xxxx xxxx
Accumulated Depreciation (xxxx) (xxxx)
Total Fixed Assets xxxx xxxx

OTHER ASSETS
Fixed Assets under Construction xxxx xxxx
Deferred charges xxxx xxxx
Total other assets xxxx xxxx
TOTAL ASSETS xxxx xxxx
====================

LIABILITIES AND EQUITY 19X1 19X0

SHORT TERM LIABILITIES

Trade Payables xxxx xxxx
Bank Loan xxxx xxxx
Tax Payables xxxx xxxx
Members’ contributions xxxx xxxx
Balance of operating result payable xxxx xxxx

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Long Term Debt due within one year xxxx xxxx

Accrued Expenses Payables xxxx xxxx
Total Current Liabilities xxxx xxxx

LONG TERM LIABILITIES

Bank Loan xxxx xxxx
Other Long Term Liabilities xxxx xxxx
Total Long Term Liabilities xxxx xxxx

EQUITY
Obligatory contributions xxxx xxxx
Principal contributions xxxx xxxx
Equalizing Capital - members’ participation xxxx xxxx
Participating capital xxxx xxxx
Donated capital xxxx xxxx
Reserve xxxx xxxx
Undistributed Balance of Operating Result xxxx xxxx
Total Equity xxxx xxxx

TOTAL LIABILITIES AND EQUITY xxxx xxxx

=======================

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PEOPLE’S DEVELOPMENT COOPERATIVE

REPORT ON THE PROMOTION OF MEMBERS’ ECONOMY
For the years ended 30 December 19x1 and 19x0
(Producers’ cooperative)

ECONOMIC PROMOTION DURING

THE CURRENT YEAR 19x1 19x0

ECONOMIC BENEFIT FROM MARKETING

OF MEMBERS’ PRODUCTS
Marketing of members’ products
based on market prices Rp. xxxx Rp. xxxx
Marketing of members’ products based
on cooperative prices (xxxx) (xxxx)
Total Economic Promotion from Marketing
transactions of members’ products Rp. xxxx Rp. xxxx
====================

ECONOMIC BENEFIT FROM THE ACQUISITION

OF GOODS FOR MEMBERS
Acquisition of Goods based on
Market Prices Rp. xxxx Rp. xxxx
Acquisition of Goods based on
Cooperative Prices (xxxx) (xxxx)
Total Economic Promotion from transactions
of goods acquisition for members Rp. xxxx Rp. xxxx
====================

ECONOMIC BENEFIT FROM PROVIDING SERVICES FOR MEMBERS

Services provided based on
Market Prices Rp. xxxx Rp. xxxx
Services provided based on
Cooperative Prices (xxxx) (xxxx)
Total Economic Promotion from transactions
of providing services for members Rp. xxxx Rp. xxxx
====================
Total Economic Promotion During
the Current Year Rp. xxxx Rp. xxxx

ECONOMIC PROMOTION AT THE END OF THE YEAR

Distribution of the Balance of the
Operating Result for the Current year
for members Rp. xxxx Rp. xxxx
Total Economic Promotion for members Rp. xxxx Rp. xxxx
====================

PEOPLE’S DEVELOPMENT COOPERATIVE

CALCULATION OF OPERATING RESULT
For the years ended 30 December, 19x1 and 19x0

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19x1 19x0

MEMBERS’ PARTICIPATION
Gross members’ participation Rp. xxxx Rp. xxxx
Basic Expenses (xxxx) (xxxx)
Net members’ participation Rp. xxxx Rp. xxxx
=========================

REVENUES FROM NON-MEMBERS

Sales Rp. xxxx Rp. xxxx
Cost of Sales (xxxx) (xxxx)
Profit (Loss) from non-members Rp. xxxx Rp. xxxx
Balance of Gross Operating Result Rp. xxxx Rp. xxxx

OPERATING EXPENSES
Business Expenses (xxxx) (xxxx)
Balance of Cooperative’s
operating result xxxx xxxx
Cooperative’s Expenses (xxxx) (xxxx)
Balance of operating result
after cooperative expenses Rp. xxxx Rp. xxxx
Other Income and Expenses xxxx xxxx
Balance of Operating Result
before Extra ordinary Items Rp. xxxx Rp. xxxx
Extra ordinary Income and Expenses xxxx xxxx
Balance of operating result before tax Rp. xxxx Rp. xxxx
Income Tax (xxxx) (xxxx)
Balance of Operating Result after tax Rp. xxxx Rp. xxxx
=========================

PEOPLE’S DEVELOPMENT COOPERATIVE

REPORT ON THE PROMOTION OF MEMBERS ECONOMIC
For the years ended 31 December, 19x1 and 19x0
(Consumers’ Cooperative)

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ECONOMIC PROMOTION DURING

THE CURRENT YEAR 19x1 19x0

ECONOMIC BENEFIT FROM

MARKETING MEMBERS’ PRODUCTS
Marketing of members’ products
based on cooperative prices Rp. xxxx Rp. xxxx
Marketing of members’ products
based on market prices (xxxx) (xxxx)
Total Economic promotion from marketing
transactions of members’ products Rp. xxxx Rp. xxxx
========================
ECONOMIC BENEFIT FROM THE ACQUISITION
OF GOODS FOR MEMBERS
Acquisition of Goods based on
Market Prices Rp. xxxx Rp. xxxx
Acquisition of Goods based on
Cooperative Prices (xxxx) (xxxx)
Total Economic Promotion from the
transactions of goods acquisition
for members Rp. xxxx Rp. xxxx
========================

ECONOMIC BENEFIT FROM SAVING AND

BORROWING THROUGH THE COOPERATIVE
Saving of members’ loan expenses Rp. xxxx Rp. xxxx
Excess of compensation on
members’ savings (xxxx) (xxxx)
Total Economic Promotion from
transactions of providing services for
members Rp. xxxx Rp. xxxx
========================
Total Economic Promotion for members
during the current year Rp. xxxx Rp. xxxx

ECONOMIC PROMOTION AT
THE END OF THE YEAR
Distribution of the Balance of Operating
result for the Current year to members Rp. xxxx Rp. xxxx
Total Economic Promotion for members Rp. xxxx Rp. xxxx

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