The economic-accounting impact of the members withdrawal in cooperative society: the impact of IAS 32
Abstract
The share capital of cooperatives has different characteristics to the share capital of other commercial entities. This is due to the principle of voluntary and open membership. These peculiarities make the cooperative capital have a special accounting treatment. According to international accounting standards, cooperative capital can be considered as a financial liability or a capital resource, depending on the legal or statutory regulation of the partner’s right of withdrawal. This approach has also been applied to the accounting law of the European Union and Spain, affecting many European cooperatives, affecting their financial image. In this paper, we analyze the accounting peculiarities that take place when a partner leaves the cooperative, according to the international accounting regulations, national accounting regulations and the last positions of the regulatory organisms
Received: 12 June 2017
Accepted: 14 October 2017
Published online: 22 December 2017
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