paragraph on disposal of funds
Answers
Explanation:
Segregation is one of the most important activities that we need to promote and enforce for effective waste management in urban area and to make landfills reduce in size gradually and finally come to no landfills in four-five decades from now. Even in Western Europe where they have been working on developing a scientific waste management systems for the last 30 years or so, nearly one-third of waste is still going to the engineered landfill. In India, too, we cannot have “zero” landfill or “no” landfill overnight. This is not a realistic expectation.
Answer:
The financial statements of a cooperative shall include the following:
1. The balance sheet, which shall be expressed as follows:
(1) Assets: Current assets and non-current assets
(2) Liabilities: Current liabilities and non-current liabilities
(3) Equities: Capital stock for members, capital reserve, and accumulated surplus (or accumulated deficit)
2. The income statement, which shall contain the following account titles:
(1) Operating revenue
(2) Operating costs
(3) Operating expenses
(4) Non-operating revenue and expenses
(5) Surplus (or deficit) for the period
3. The inventory, which shall contain the following account titles:
(1) Original value: The acquisition cost incurred on the purchase of an asset
(2) Amount of depreciation: The depreciation expense allocated for the year
(3) Accumulated depreciation: The amount of depreciation accumulated over the years
(4) Book value: The original value of an asset minus the accumulated depreciation
4. The surplus appropriation statement or deficit amortization statement, which shall contain the following account titles:
(1) Surplus for the period: The annual surplus listed in the income statement
(2) Dividend: The amount set aside from the total amount of the capital stock paid by members at the annual interest rate (in percentage) stipulated in the articles of association or resolved in the member’s (representative’s) congress
(3) Distributable surplus: The surplus for the period plus accumulated surplus (or minus accumulated deficit) and minus dividends
(4) Legal reserve: The amount set aside from the distributable surplus at the rate (in percentage) stipulated in the articles of association
(5) Public interest reserve: The amount set aside from the distributable surplus at the rate (in percentage) stipulated in the articles of association
(6) Compensation for directors, supervisors, clerks, and technicians: The amount set aside from the distributable surplus at the rate (in percentage) stipulated in the articles of association
(7) Distributions to members: The distributable surplus minus the legal reserve, public interest reserve, and compensation for directors, supervisors, clerks, and technicians; such distributions shall be allocated according to the amount of transactions by members