Article 8 of Law 19/1989 of 25 July 1989 on the partial reform and adaptation of commercial law to the Directives of the European Economic Community on companies and the final provision of the text A recast of the Law of Companies, approved by Royal Decree 1564/1989, of December 22, authorizes the Government to approve the General Plan of Accounting.

Likewise, the final disposition of Royal Decree 1643/1990, of 20 December, for which the General Accounting Plan is approved, provides for approval by the Minister of Economy and Finance, on a proposal from the Institute of Accounts and Audit of Accounts, and through Ministerial Order, of the adaptation of the rules of valuation and the elaboration of the annual accounts to the specific conditions of the accounting subject.

In this respect it is noted that according to the article 4 of Royal Decree 557/2000, of 27 April, of restructuring of the ministerial departments, the competences until now attributed in this matter to the minister of Economy and Finance, correspond to the Minister of Economy.

For such purposes, pursuant to the provisions of Article 61.1 of State Law 27/1999, of July 16, of cooperatives, which states that cooperatives must keep an accurate and adequate accounting for their activity with In the case of the Court of Justice of the European Communities, the Court of Justice held that the Court of Justice held that the Court of Justice held that the Court of Justice held that the Court of Justice held that the Accounting and Audit Institute of Accounts a working group to adapt the General Plan of Accounting for the specific characteristics and nature of the operations and activities carried out by these companies.

All this, in any case, on the basis of the exclusive powers in matters of commercial law that are attributed to the State under Article 149.1.6.a of the Spanish Constitution, without prejudice to the In the light of the rules which are now adopted, the peculiarities which have an impact on the accounting field, have included the various autonomous laws, in accordance with the powers assumed by the Autonomous Communities in their respective statutes of Autonomy in the field of cooperatives, but always respecting commercial law, to which it is make continuous referrals to the articles of those provisions.

The above considerations make it possible to state that the present rules are dictated in compliance with the rating contained in the final third of the Royal Decree of approval of the General Accounting Plan, and that they are designed to adapt the rules of assessment and draw up the annual accounts to the peculiarities of the cooperative societies, they are of compulsory application, irrespective of where they develop their main activity and the Regional and local authorities.

The first paragraph of the Order approves the Rules on the accounting aspects of the Cooperative Societies that are detailed below.

In the second section, the scope is delimited. In this sense, the mandatory application for all cooperatives of the rules governing the accounting aspects of these companies is established, indicating that, in all the non-regulated, the General Plan of Accounting approved by Royal Decree 1643/1990 of 20 December 1990, the sectoral adaptations drawn up by virtue of the final provision of the Royal Decree of the approval of the plan and which have their origin in the nature of the activities of specific sectors, as the Resolutions issued by the Accounting and Audit Institute of Accounts in compliance with the fifth final provision of that Royal Decree.

It is necessary to specify that all the regulation that is incorporated into these rules, complements, modifies or adapts the rules of the General Accounting Plan, so that except strictly modified, it is applied in its integrity said Plan.

Another aspect that has been specifically needed to be collected in the field of application is that of cooperative societies that carry out financial activities, mainly credit unions and cooperatives. insurance, which must apply the specific accounting rules established for this type of entity, so that these rules will only apply to them in the non-regulated expressly in those rules.

The Order contains an additional enabling provision, as a consequence of the structure chosen for the approval of these accounting standards which differs from that set out in the General Accounting Plan.

Therefore, in order to facilitate its implementation, the additional Disposition enables the Accounting and Audit Institute to approve, by way of resolution, a recast text of the aforementioned Plan adapted to the specific conditions of the Cooperative Societies, for which it will have to be logically taken into account the specific regulation that is approved through the present Ministerial Order.

The Order also includes a derogating provision of the rules of equal or lower rank whose content is opposed to that set out therein, as well as a Final Disposition that collects the date of entry into force.

The rules on accounting aspects of cooperative societies are structured in five chapters. The purpose of the first chapter is to delimit the own funds of cooperative societies and consists of five rules in which, following a general definition of the own funds of this type of company, the particularities of the different concepts that form them.

The criterion for carrying out this classification has taken into account a previous analysis of the legal and economic aspects of the different concepts contained in the laws of cooperatives, which in principle could have the consideration of own funds. In line with this reasoning, the contributions entitled 'Temporary capital' provided for in certain laws, in spite of their name, as long as they are conditional on a given duration, have been classified as a debt with certain own characteristics to be reported in the memory. On the contrary, the fifth rule regulates certain subordinated funds with a maturity in the liquidation of the cooperative, qualifying these items as own funds of the cooperative society, in the light of the fact that it is a form of the financing that remains in the cooperative until the approval of its liquidation, and that in terms of ranking of credits it is placed behind all the common creditors.

The accounting aspects of the Obligatory Reserve Fund and the Refund or Update Fund are also regulated within the own funds chapter in a rule expressly dedicated to the specific reserve funds of the cooperative societies. On the contrary, in the present rules, no accounting regulation has been developed for voluntary reserve funds of a deliverable and irreparable nature covered by the rules on cooperatives, in view of the fact that nature of these funds does not require an accounting treatment other than that established in the General Accounting Plan.

The second chapter is intended to define the accounting nature of the Fund for Education, Training and Promotion, a specific aspect of cooperative societies. The particularities presented by its endowment and the different qualification that this fund receives in the various laws of cooperatives, has made it possible to consider that the most appropriate solution for its accounting is to create a new grouping in the liabilities of the balance sheet entitled 'Education, Training and Promotion Fund', which will appear immediately after the 'Revenue to be distributed in various financial years' grouping, which facilitates the analysis of the annual accounts by potential users.

Without prejudice to the foregoing, the endowment of such fund shall be incorporated as an expense, into an independent pool of profit and loss account, using an account opened in sub-group 65 of the General Plan of Accounting. In turn, subgroup 13 of the Plan will become known as "Specific Funds for Financing and Revenue to Be Distributed in Various Exercises" and will add an account for the registration of the Education, Training and Promotion Fund. Grants, grants and fines for the fund will be recorded as an independent online income from the income statement and will be incorporated into the fund's endowment by increasing the corresponding expenditure account. This form of registration makes it possible to identify in the profit and loss account, a result of the exercise comparable to that of other economic units and another so-called 'cooperative surplus' affected by certain items which are only produce in cooperatives.

Non-foreign funds, regulated in the various Cooperative Laws, incorporated in the third chapter of these rules, shall be recorded, where appropriate, in specific accounts created for this purpose in sub-groups 15 and 50. shall be part of the balance sheet as part of the 'Long-term creditors' or 'Short-term creditors' groups depending on their maturity.

For their part, the rules of the fourth chapter focus on the profit and loss account of cooperative societies to regulate the accounting specificities that affect the determination of the outcome of the exercise and its distribution, as well as different concepts of expenditure and income derived from operations carried out with the cooperative's own partners and the remuneration of the social capital.

For the purposes of determining the outcome of the exercise and the drawing up of the profit and loss account of cooperative societies, the mandatory principles and rules contained in the first shall apply,

fourth and fifth part of the General Accounting Plan, without prejudice to the specific rules contained in these rules.

In any event, in order to ensure that the annual accounts of the cooperative societies reflect the true image of the company's assets, financial situation and results, the ninth, tenth and eleventh rules relating to the Accounting records of revenue and expenditure as a result of transactions with partners, require that the true nature of the transaction be taken into account in the light of its economic background.

For its part, the standard dedicated to the distribution of results has two paragraphs to reflect the impact on the annual accounts of the application of profits and losses, respectively, of the cooperative societies.

In the 13th standard, the accounting of what is possibly one of the most unique aspects of cooperatives is regulated: the remuneration of the social capital and, where appropriate, other items of own funds, recognized in the laws of cooperatives.

The remuneration of the contributions, in accordance with the provisions of Article 48 of Law 27/1999 of July 16, of Cooperatives, must be individualized in the profit and loss account, so that it can be known expressly their impact on the outcome of the cooperative. In turn, in this article the distribution of the remuneration of contributions to the previous existence of positive results in the economic exercise, circumstance or conditioning is conditioned that, although it is repeated in different autonomous laws of cooperatives, it is not common for all of them.

In a synthetic manner, the recording of the remuneration of the contributions to the capital or other specific own funds of the cooperatives shall be reflected as follows:

If there is prior benefit, and up to the limit of this, it is considered an expense, of its own nature, of the cooperative.

If there is no prior benefit, or the remuneration exceeds its amount, the only way to make such a payment congruent is to qualify it as a lower own fund of the cooperative, either by decreasing reserves or by anticipating expenses. on future profits, the latter aspect is very similar to the intended treatment for dividends on account of commercial companies.

In the fifth chapter of these rules, the additional information that cooperatives must incorporate into the normal and abbreviated models of the annual accounts is regulated. The objective of the memory is to complete, expand and comment on the information contained in the balance sheet and in the profit and loss account, so that it has been chosen to add to the information requested in the memory models set out in the Plan General of Accounting other information that has been deemed necessary for the understanding of the annual accounts presented by the cooperative societies, in order for those to reflect the faithful image of the patrimony, of the financial situation and the results of the cooperative society.

For this purpose, the number of sections of the normal and abbreviated memory models has been extended to include information about the separation of the loss and profit account items for determination of the different results, separation by sections, the Education, Training and Promotion Fund, operations with partners and temporary "capital". In addition, new wording has been given to the distribution of results, which has been renamed the capital interest and the distribution of results, and to the own funds, including the latter as a new paragraph in the short model. to replace the section on social capital.

As is the case in the rest of the rules, in this chapter, dedicated to providing specific information on cooperatives in memory models, they have sought to address the requirements of state law and all laws. (a) regional cooperatives, so depending on the geographical area in which each cooperative develops its activities, cases may arise in which the information requested in general is not significant and is therefore not necessary fill in the relevant points.

As an annex to these rules on accounting aspects of cooperative societies, the balance sheet and profit and loss account are presented in their normal and abbreviated models, which make up the annual accounts jointly with the memory.

In its virtue, according to the State Council, and on a proposal from the Accounting and Audit Institute of Accounts, this Ministerial Order is issued:

First. Approval of the Rules on the accounting aspects of the Cooperative Societies, the text of which is inserted below.

Second. Application. -1. These rules will be mandatory for cooperative societies.

In everything not specifically modified in these rules, the General Accounting Plan will be applicable, as provided for in Royal Decree 1643/1990 of 20 December, as well as the sectoral adaptations and the Resolutions of the Accounting and Audit Institute, approved under the first and fifth final provisions, respectively, of the aforementioned Royal Decree.

2. However, cooperative financial institutions shall be governed by the specific accounting provisions applicable to them, with the present rules applying only to the provisions of those rules.

Single additional disposition. Enablement.

In order to facilitate the implementation of these rules, the Accounting and Audit Institute of Accounts will approve, by way of resolution, a text that recused the Accounting Plan adapted to the specific conditions of the Cooperative Societies, for which the specific regulation approved and which is inserted in this Order will have to be taken into account.

Single repeal provision. Regulatory repeal.

Rules of equal or lower rank whose content is opposed to what is set forth in this Ministerial Order are repealed.

Single end disposition. Entry into force.

This Order shall apply for the financial years started on or after 1 January 2004.

What I communicate to VV.II. for your knowledge and effects.

Madrid, 16 December 2003.

HANGING OUT AND FIGAREDO

Ilmos. Mr Undersecretary for Economic Affairs and President of the Accounting and Audit Institute.

RULES ON THE ACCOUNTING ASPECTS OF COOPERATIVE SOCIETIES

INTRODUCTION

I

The rules on accounting aspects of cooperative societies have been developed by a group of experts who have developed their work within the Accounting and Audit Institute of Accounts.

In the course of the meetings held, different issues have been studied that affect the subject, deepening the most characteristic aspects of these entities and proposing, in each case, the accounting solutions that they have considered more reasonable to comply with the particular conditions of the cooperative societies.

The fact that these rules are intended to adapt the valuation and the drawing-up of the annual accounts to the specific conditions of the cooperative societies makes it possible to state that these rules are open, whose innovation will depend on the evolution of cooperative societies, the suggestions of professionals and experts from their application, and most especially the development of the adaptation of Spanish accounting law to the new European legislation.

In the attempt to delimit the scope of these rules, it is proposed that two competing titles be held, which correspond to the competence of the legal system of cooperatives and the jurisdiction to approve the accounting rules and criteria applicable to such cooperatives which falls within the scope of the commercial competition.

The Autonomous Communities have assumed in their respective Statutes of Autonomy competences in the field of cooperatives, but always respecting the mercantile legislation, since under article 149.1.6.ade the Constitution Spain's exclusive powers in the field of commercial law are attributed to the State.

Thus, according to Article 2 of State Law 27/1999 of 16 July, of Cooperatives, the State competition is exclusively projected on the entities that develop their cooperative activity in Ceuta or Melilla or in several Autonomous Communities without having a main character in one of them. In this way, the cooperatives that develop their main activity or exclusively in the territory of a single Autonomous Community, except in the Autonomous Cities of Ceuta and Melilla, will be subject to the rules of their own, with the State Law 27/1999, of 16 July, would be applicable in the case of Autonomous Communities that do not have their own and specific rules of cooperatives, in which case, pursuant to Article 149.3 of the Constitution, State Law 27/1999, of 16 July, would be applicable. All this, without prejudice to the speciality provided for credit unions, in Article 104 of the aforementioned Law, in the wording given by Article 54 of Law 55/1999 of 29 December 1999 on tax, administrative and administrative measures social.

The autonomous regulations on cooperatives have so far materialized in the following laws:

Law 2/1999, of March 31, of Andalusian Cooperative Societies.

Law 9/1998, of 22 December, of Cooperatives of Aragon.

Law 18/2002, of 5 July, of Cooperatives of Catalonia.

Law 4/1993, of June 24, of Cooperatives of Euskadi.

Law 2/1998, of 26 March, of Cooperative Societies of Extremadura.

Law 5/1998, of 18 December, of Cooperatives of Galicia.

Law 4/1999, of March 30, of Cooperatives of the Community of Madrid.

Law Foral 12/1996, of July 2, of Cooperatives of Navarra.

Law 4/2001, of 2 July, of Cooperatives of La Rioja.

Law 4/2002, of April 11, of Cooperatives of the Community of Castilla y León.

Law 20/2002 of 14 November of Cooperatives of the Community of Castilla-La Mancha.

Law 8/2003, of 24 March, of Cooperatives of the Valencian Community.

Law 1/2003, of March 20, of Cooperatives of the Balearic Islands.

In the explanatory statement of these laws, the exclusive competence of the respective Community to regulate cooperatives is pointed out, although taking into account the state mercantile legislation, to which continuous referrals are made in the provisions of those provisions.

As stated above, the approval of the accounting rules is included within the market competition, and this is demonstrated by the fact that the basic rules and principles in accounting are regulated in the Code of Commerce, which is the fundamental rule of commercial law, to which the regulatory norms of different types of societies are referred and in particular the autonomous and state laws of cooperatives. In this sense, article 61.1 of the State Law of Cooperatives establishes that cooperatives must keep an accurate and adequate accounting of their activity according to the provisions of the Code of Commerce and Accounting Regulations, with the peculiarities contained in this same law and norms that develop it.

Having regard to the foregoing, it should be noted that the development of the accounting rules is contained in Royal Decree 1643/1990 of 20 December 1990, approving the General Plan of Accounting, which includes (a) the right to issue accounting rules, which are also incorporated in commercial law, in particular in the law of accounting, including those contained in the first, third and fifth final provisions. In particular, the third final provision states that the Minister for Economic Affairs and Finance, acting on a proposal from the Institute for Accounting and Audit of Accounts and through Ministerial Order, may adapt the rules for the assessment and compilation of accounts. (a) the conditions laid down in Article 1 (1) (a) of Regulation (European) No No 1 of the European Parliament and of the Council;

In this respect, it should be specified that, in accordance with Article 4 of Royal Decree 557/2000 of 27 April 2000, the restructuring of the ministerial departments, the powers in this field, up to now Minister of Economy and Finance, they are the Minister of Economy.

Thus, it can be concluded that the Autonomous Communities, by virtue of their exclusive competence, will regulate the structure of the cooperatives that develop their main activity in their territory, being able to reach even (a) establish specific characteristics in respect of the books to be taken to reflect their operations; but the plasmation of their operations in their accounts must be made in accordance with the State rules, which, by virtue of the In Royal Decree 1643/1990 of 20 December, it can be adapted to the each subject.

The above considerations make it possible to state that the present rules are dictated in compliance with the rating contained in the final third of the Royal Decree of approval of the General Accounting Plan, and that they are designed to adapt the valuation rules and draw up the annual accounts to the specific characteristics of the cooperative societies; they can be applied by all of them, irrespective of where they are active in the main and the autonomy rules to which they are subject. For these purposes, the fact that they are applicable to all cooperatives has demanded that all the peculiarities, which have an impact on the accounting field, have been taken into account, have taken into account the different autonomous laws.

II

In order to develop these norms, a cooperative definition has been created that has been presented by the International Cooperative Alliance, according to which a cooperative is " an autonomous association of people who have voluntarily to meet their common economic, social and cultural needs and aspirations through a joint ownership and democratic management company. "

In the Declaration on the Cooperative Identity of the Alliance, it is indicated that cooperatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. Following the tradition of its founders, the cooperative partners make their own the ethical values of honesty, transparency, responsibility and social vocation.

These cooperative values are put into practice through the following principles:

Principle of voluntary and open membership: cooperatives are voluntary organisations, open to all persons capable of using their services and willing to accept the responsibilities of being a partner, without discrimination sex, social, racial, political, or religious.

Principle of democratic management by partners: Cooperatives are democratically managed organisations by the partners, who are actively involved in the setting of their policies and in decision-making. The men and women elected to represent and manage the cooperatives are accountable to the partners. In first-degree cooperatives, partners have equal voting rights (one partner, one vote), and cooperatives of other degrees are also organized in a democratic way.

Partners ' economic participation principle: Partners contribute equally to the capital of their cooperatives and manage it in a democratic way. At least part of that capital is normally common property of the cooperative. Usually, the partners receive compensation, if any, limited on the capital provided as a condition to be a partner. The partners allocate the surplus to all or some of the following purposes: the development of their cooperative, possibly through the establishment of reserves, part of which would at least be irreparable; the benefit of the partners in proportion to their operations with the cooperative; and the support of other activities approved by the partners.

Principle of autonomy and independence: Cooperatives are autonomous self-help organizations, managed by their partners. If they sign agreements with other organizations, including governments, or if they get capital from outside sources, they do so in terms that ensure democratic control by their partners and maintain their cooperative autonomy.

Principle of education, training and information: Cooperatives provide education and training to partners, elected representatives, managers and employees so that they can contribute effectively to the development of their cooperatives. They inform the general public, especially young people and opinion leaders, of the nature and benefits of cooperation.

Cooperative partnership principle: Cooperatives serve their partners as effectively as possible and strengthen the cooperative movement by working together through local, national, regional and local structures. international.

Principle of interest for the community: Cooperatives work to achieve the sustainable development of their communities through policies approved by their partners.

To cater for these particularities, the rules on accounting aspects of cooperative societies that are structured in five chapters and incorporate an annex with balance sheet models and profit and loss account arise. (documents which integrate the annual accounts together with the memory) adapted to the peculiarities of this type of company.

The first chapter of these rules is intended to delimit the own funds of cooperative societies and consists of five rules in which, following a general definition of the own funds of this type of company, details the particularities of the different concepts that form them.

As the first item of the cooperative society's own funds, the social capital that corresponds to the subscribed capital is distinguished according to the Law and is characterized, basically, by its character of permanence, Article 47.2 of Law 27/1999, of 16 July, of Cooperatives, its affectation to the activities of the entity and to serve as guarantee to the social creditors.

For the purposes of the accounting record of the capital injections, a series of sub-divisional accounts of the social capital account are developed, in which according to the specific regulations of the cooperatives (laws of cooperatives), is distinguished according to the mandatory or voluntary nature of the contribution, as well as the contributions made by partner and associate partners or injured. The above requires that for cases such as the provisions of Article 28 of Law 4/1999 of 30 March of the Community of Madrid, in which a contributor cannot have the status of a partner, the contribution made by the latter is shall be registered with regard to its nature.

Cooperative societies can reduce their capital by different causes that are specifically regulated in their laws, although from an accounting perspective the way to record reductions has been particularly addressed. motivated by the reimbursement of the contributions of the low-cost partner. This type of reduction, even in the case covered by Article 45 (8) of Law 27/1999, of 16 July, of Cooperatives, produces from the moment the agreement to formalise the discharge, the birth of a child, is acquired. debt, to be recorded in open creditor accounts in sub-groups 17 or 52 depending on the maturity period, on the credited amounts of capital injections and on any other item of own funds, as is the case in the case of the partial allocation of the compulsory reserve fund, as laid down in Article 84 (3) of Law 2/1999, of March 31, of the Andalusian Cooperative Societies. In another case, any deduction that is made in the securities to be reimbursed to the low-cost partner, which would result in a result for the company, will be imputed to reserves.

Finally, the cooperatives ' capital rule incorporates the accounting regulation of figures, which are referred to as "temporary capital" in legal texts, and are described as debts with specific characteristics, which will be explained in memory. This accounting rating is a consequence of the criterion according to which, when the agreement is taken to reduce capital, or is born with an explicit return period, as is the case with these issues, its rating is produced as debt, to the Take precedence over the fact of your return commitment. Thus, this figure is regulated in Articles 26.2 of Law 4/1993, of 24 June, of Cooperatives of Euskadi; 20.2 of Law 4/1999, of March 30, of Cooperatives of the Community of Madrid; 21.6 of Law 2/1998, of March 26, of Societies Cooperatives of Extremadura, and 19.3 of Law 8/2003, of March 24, of Cooperatives of the Valencian Community.

The cooperatives ' partners may also make other non-reintegrable contributions which, in so far as they do not constitute consideration for the supply of goods or services provided by the cooperative, are qualified as own funds even if they are not part of the social capital; this is the case for the provisions of Article 52 of Law 27/1999, of 16 July, of Cooperatives.

The incorporation into the balance sheet of these contributions or non-reintegrable contributions that the cooperative requires from its partners, will be carried out under the heading "Reserves" in the case of income or contributions to be allocated directly to the increase the reserve funds of the cooperative and under the heading "Results of previous years", provided that the contributions are required from the partners in order to compensate for the losses of the company in whole or in part cooperative.

The accounting aspects of the Compulsory Reserve Fund and the Refund or Update Fund are regulated within the own funds chapter in a standard expressly dedicated to the specific reserve funds of companies. cooperatives. These reservations have the following characteristics:

The Mandatory Reserve Fund is a legal reserve imposed by the regulations applicable to cooperatives, which is characterized as being aimed at the consolidation, guarantee and development of those cooperatives and to be irreparable among its members. partners.

Article 58.1 of Law 27/1999, of 16 July, of Cooperatives establishes the obligation to allocate to this fund a percentage of the surplus accounted for for the determination of the cooperative result, after deduction of the losses of any kind of prior years and before the consideration of the Company Tax.

Additionally, other concepts detailed in the various cooperative laws, including: the membership fees of the partners, the deductions on the funds, will be allocated to the Mandatory Reserve Fund. (a) compulsory contributions in the case of a lower partner and the results of the operations carried out under cooperative agreements covered by Article 79.3 of Law 27/1999 of 16 July of Cooperatives.

The Reimbursement or Update Fund is a special reserve regulated in the laws of cooperatives of the Autonomous Communities of Andalusia, Madrid, Extremadura, Galicia, Valencia, Catalonia and Castilla-La Mancha, which is constituted to allow the updating of the contributions to the share capital to be restored to the outgoing partners and associates, with the sole purpose of correcting the effects of inflation and to which certain established percentages of the Benefits available.

The fact that cooperative societies can benefit from the laws of regularisation of balance sheets on the same terms and with the same benefits as the rest of the societies of common law, has allowed in certain The laws of cooperatives have established the possibility of providing the Reimbursement Fund or Update from available regularisation reserves.

In these rules, an accounting regulation applicable to voluntary reserve funds of a deliverable and irreparable nature covered by the regulations on cooperatives has not been developed, since it is understood that nature of these funds does not require an accounting treatment other than that established in the General Accounting Plan.

In relation to the reserves, article 44.12 of the Law Foral 12/1996, of July 2, of the Cooperatives of Navarra states that " the capital grants received by the cooperatives will be irreparable, incorporating directly to the patrimony of the same in special reserves with the name of Reservations for Grants. " In this respect, it should be noted that, in accordance with the General Accounting Plan, non-reintegrable capital grants should be included as "Income to be distributed in various financial years" on the liabilities side of the balance sheet, a possible interpretation of the reproduced precept would consist in that, once the grant of the capital grant has been registered as an income to be distributed in various financial years, it may be considered as a property for the purposes of the Law-the "Reserve for Grants" should be provided in each financial year, at least in the amount of that imputed to the result. This item will be part of the own funds. In short, the annual accounts will collect the total amount of the subsidy, taking into account the tax effect.

The departure of "Retornos to Account" refers to the possible advances of profit sharing and is maintained because in the legislation of Catalonia this item is included as a minorator of the own funds in the model of balance established in your regulations for the deposit of accounts in the Register of Cooperatives.

The last rule in the own funds chapter is intended to regulate the accounting aspects of subordinated funds with maturity in the settlement of the cooperative, the accounting record of which is to be made in the sub-group. 'Capital and capitalised funds' and for which the heading 'Capitalised funds' has been opened within the 'own funds' grouping of the liabilities side of the balance sheet, taking into account that this is a form of financing that remains in the cooperative until the approval of its liquidation, and that as far as the ranking of credits is situated behind all the common creditors.

The second chapter is intended to define the accounting nature of the Fund for Education, Training and Promotion, a specific aspect of cooperative societies.

As a general rule, the allocation of the Education, Training and Promotion Fund is carried out in the light of the positive outcome of the cooperative in the financial year, and also incorporates grants, grants and grants awarded to the cooperative, as well as the sanctions imposed on the partners, which according to the regulations on cooperatives are linked to the aforementioned fund.

The particularities presented by its endowment and the different qualification received by this fund in the various cooperative laws have led to the approach of two alternative positions for their accounting treatment, according to (a) it has an impact on its consideration as own funds or as foreign funds.

The discussion of these alternatives on the Education, Training and Promotion Fund, since it is a game that can pick up characteristics of own fund and of others, has made it an eclectic solution that the solution more suitable for accounting is to create a new grouping in the liability of the balance sheet called " Fund of

Education, Training and Promotion "that will appear immediately after the" Revenue to be distributed in various exercises " grouping, which facilitates the analysis of the annual accounts by the possible users.

Without prejudice to the foregoing, the endowment of such fund shall be incorporated as an expense, into an independent pool of profit and loss account, using an account opened in sub-group 65 of the General Plan of Accounting. In turn, subgroup 13 of the Plan will become known as "Specific Funds for Financing and Revenue to Be Distributed in Various Exercises" and will add an account for the registration of the Education, Training and Promotion Fund. Grants, grants and fines for the fund will be recorded as an independent online income from the income statement and will be incorporated into the fund's endowment by increasing the corresponding expenditure account. This form of registration makes it possible to identify in the profit and loss account, a result of the financial year, comparable to that of other economic units, and another so-called 'cooperative surplus' affected by certain items which are only produce in cooperatives.

Non-foreign funds, regulated in the various Cooperative Laws, incorporated in the third chapter of these rules, shall be recorded, where appropriate, in specific accounts created for this purpose in sub-groups 15 and 50. shall be part of the balance sheet as part of the 'Long-term creditors' or 'Short-term creditors' groups depending on their maturity.

The fourth chapter rules focus on the profit and loss account of cooperative societies to regulate accounting specificities that affect the determination of the outcome of the exercise and its distribution. as to different concepts of expenditure and income derived from operations carried out with the cooperative's own partners and the remuneration of the social capital.

For the purposes of determining the result of the exercise and the drawing up of the profit and loss account of cooperative societies, the mandatory principles and rules contained in the first, fourth and fifth principles shall apply. part of the General Accounting Plan, without prejudice to the specific rules contained in these rules.

The rules on acquisitions to the partners of goods and services, or other services, have a particular impact on the application of the accrual and acquisition price principles, requiring that each financial year be reflected in the transactions on the basis of the actual current of the transactions irrespective of the time the monetary or financial current arising from them occurs and, in any case, valued for their purchase price.

The valuation of acquisitions of goods and services to the cooperative management partners requires special accounting treatment in the cases where the purchase price is fixed according to future circumstances. and, in particular, where the laws of cooperatives of different Autonomous Communities impose a limit on that price, or it is agreed that the purchase price cannot exceed the actual settlement price or the market price. This is set out in Articles 55.2 and 57.2 of Law 9/1998 of 22 December of Cooperatives of Aragon, 66.2 a) of Law 4/1993 of 24 June of Cooperatives of Euskadi; 58.2 and 61.3 (a) of Law 2/1998 of 26 March of Companies Cooperatives of Extremadura; 86.2 and 89.2 (a) of Law 2/1999, of 31 March, of the Andalusian Cooperative Societies; 73.2 a) of Law 4/2002, of 11 April, of Cooperatives of the Community of Castilla y León; 67.3 a) of Law 20/2002, of 14 of In November, the Cooperatios de la ComunComunía de Castilla la Mancha, and 67.3.a) of Law 8/2003 of 24 March of Cooperatives of the Community Valencian; while no limit is imposed in Articles 57.2 and 59.4 (a) of Law 4/1999, of March 30, of the Community of Madrid and 61.3 and 65.1 (a) of Law 18/2002, of 5 July, of Cooperatives of Catalonia.

For the accounting record of these assumptions, part of an estimated acquisition price that, to the extent that it exceeds the price paid or committed to pay in firm, will have as a counterpart an accretive account with partners pending settlement, created for these purposes in subgroup 40. The purchase price shall be estimated again at the end of each of the financial years between the acquisition and settlement dates, as well as when the interim financial statements are drawn up taking into account the best estimate. possible at every moment. Finally, when the transaction is settled, the excess of the estimated acquisition price will be adjusted on the limits imposed, where appropriate, by the law or by agreements between the parties.

For the purposes of accounting records of acquisitions of goods and services to the cooperative management partners, these rules have created specific accounts in Groups 3, 4 and 6 of the General Accounting Plan.

Similarly, deliveries to the cooperative goods and services partners, which are understood in terms of cost compensation, represent an income for the cooperative for the corresponding consideration, to the register in the account opened for the purpose in group 7 included in the second and third part of the Plan.

The incorporation into the profit and loss account of the accounts of groups 6 and 7 mentioned in the preceding paragraph, is made in the grouping "Acquisitions to the partners" of the must and in the item " Revenue from transactions with partners " of the being, respectively, that they are created to this effect.

In relation to this type of income, it should be noted that, according to the fifth additional provision of Law 27/1999, of Cooperatives, they do not have the consideration of sales, deliveries of goods or services made to their members by the cooperatives, whether they are produced by them or by acquiring third parties in compliance with their social ends.

In any case, in order to ensure that the annual accounts of the cooperative societies reflect the true image of the company's assets, financial situation and results, the rules on the accounting of income and expenditure arising from operations with partners, require the true nature of the operation to be taken into account in the light of its economic background.

For its part, the standard dedicated to the distribution of results has two sections to reflect the impact on the annual accounts of the application of profits and losses of cooperative societies.

The result of the exercise in a cooperative society is obtained by the algebraic sum of the cooperative result and the extracooperative. For these purposes, the rules on cooperatives define as extra-operating results, basically, those from operations of the cooperative activity when it is carried out with non-partners, the derivatives of economic activities or sources other than the specific purposes of the cooperative and those obtained from investments and financial holdings in other companies which do not constitute preparatory, complementary or subordinate activities to the cooperative itself, as well as certain extraordinary results derived from capital gains obtained in the disposal of certain elements of the fixed assets.

When the result of the exercise is positive, in accordance with the different laws of cooperatives, the deductions corresponding to concepts such as negative results of exercises should be carried out. This is the case in point of fact. It is a matter of course, but it is a matter of course, but it is not a matter of course.

Once the above deductions have been made, the positive result available is distributed in accordance with the provisions of the statutes or the agreements of the General Assembly, in the form of a cooperative return to the partners, funds In addition to the voluntary reserve, the funds are higher than the statutory reserve funds and the contributions of the shareholders to the social capital and to other items of own funds regulated in the autonomous laws of cooperatives.

For the purposes of the accounting record of debts with partners from the cooperative return and, where applicable, interest accrued on such returns, as governed by certain legislations [Articles 62.2 b) of the Act 2/1998 Extremadura, art. 62.2 and 68.3 of Law 8/2003 Comunidad Valenciana and 58.4 c) of Law 9/1998 Aragon), accounts have been created in subgroups 52. "Short term debt for loans received and other concepts" and 17. " Long-term debts for loans received and other concepts ".

When the result of the exercise is negative, in the following year it shall be transferred to the item of negative results of previous financial years and shall be compensated, in accordance with the provisions of the cooperative laws, with (a) a voluntary reserve, a compulsory reserve fund-which may even become negative in cases where the rules of the Autonomous Community so permit-or the partners are charged.

The amount of negative results attributed to the partners or classes of partners, in general, can be met by means of direct contributions, liability compensations, capital reductions and, where appropriate, the amount of the to future cooperative returns.

The accounting record of future cooperative returns is made in open accounts in sub-groups 25 or 54 of the General Accounting Plan, depending on their maturity, which are debited to account 122. " "Partners for loss compensation" and which are reflected in the balance sheet asset under the item "Credit for cooperative returns to be offset", taking into account the corresponding financial effect.

In the penultimate rule of this chapter the accounting is regulated, which is possibly one of the most unique aspects of cooperatives: the remuneration of the social capital and, where appropriate, other items of funds own, recognized in the laws of cooperatives.

The remuneration of the contributions, in accordance with the provisions of Article 48 of Law 27/1999 of July 16, of Cooperatives, must be individualized in the profit and loss account, so that it can be known expressly their impact on the outcome of the cooperative. In turn, in this article the distribution of the remuneration of contributions to the previous existence of positive results in the economic exercise, circumstance or conditioning is conditioned that, although it is repeated in different autonomous laws of cooperatives, it is not common for all of them.

This legal requirement for a positive result, together with the basic objective of accounting standards, to facilitate the understanding and comparability of accounting information developed by any entity, to the extent that it will To be able to inform a heterogeneous collective of persons and entities interested in it, has advised to create a specific grouping in the account of the profit and loss account, located next to the " Result of the Exercise (benefits) ", as soon as the result of the company is considered to be cooperative is comparable to that of any other economic entity that makes annual accounts (companies, foundations, associations, etc.).

As of this magnitude, the amounts of the remuneration to the contributions (capital and other own funds thus paid) are reflected and, as has already been indicated, the allocation to the Education and Promotion Fund, separated in the last two lines of the account of profit and loss account, for which specific groupings are created prior to the surplus of the cooperative, in so far as they are specific concepts established in the laws of cooperatives which respond to the characteristics of these companies.

In cooperative societies, the distribution of the results is not based on the percentages of the participation of the partners in the social capital, but on the participation of the latter in the cooperative activity.

However, the remuneration (interest) to the social capital is quantified by a percentage of the amount of the contributions to the capital and are conditioned by the majority of the laws of cooperatives that the result is positive, in such a way that they share many aspects with the distribution of profits of the capital companies, although there is again an element (the accrued interest) that has characteristics common to two accounting concepts: dividends and expenditure. For this reason, its accounting record in cases where the law allows its "distribution" despite having the cooperative lost in the exercise, has assumed an additional problem whose solution has demanded the approach of the different positions In order to establish criteria which, taking into account the lines set out in the General Accounting Plan and the nature of the facts, they will achieve an adequate accounting reflection of their economic and financial significance.

In cases where the company has had a negative result in the exercise, the accounting treatment of the remuneration to the contributions, allowed by the autonomous laws of cooperatives, means to offer a solution (a) technical assistance in obtaining the appropriate consistency of the accounting rules.

In this regard, and in a synthetic manner, the recording of the remuneration of the contributions to the capital or other specific own funds of the cooperatives shall be reflected as follows:

If there is prior benefit, and up to the limit of this, it is considered an expense, of its own nature, of the cooperative.

If there is no prior benefit, or the remuneration exceeds its amount, the only way to make such a payment congruent is to qualify it as a lower own fund of the cooperative, either by decreasing reserves or by anticipating expenses. on future profits, the latter aspect is very similar to the intended treatment for dividends on account of commercial companies.

In the fifth chapter of these rules, the additional information that cooperatives must incorporate into the normal and abbreviated models of the annual accounts is regulated. The objective of the memory is to complete, expand and comment on the information contained in the balance sheet and in the profit and loss account, so that it has been chosen to add to the information requested in the memory models set out in the Plan General of Accounting other information that has been deemed necessary for the understanding of the annual accounts presented by the cooperative societies, in order for those to reflect the faithful image of the patrimony, of the financial situation and the results of the cooperative society.

For this purpose, the number of sections of the normal and abbreviated memory models has been extended to include information about the separation of the loss and profit account items for determination of the different results, separation by sections, the Education, Training and Promotion Fund, operations with partners and temporary "capital". In addition, new wording has been given to the distribution of results, which has been renamed the capital interest and the distribution of results, and to the own funds, including the latter as a new paragraph in the short model. to replace the section on social capital.

As is the case in the rest of the rules, in this chapter, dedicated to providing specific information on cooperatives in memory models, they have sought to address the requirements of state law and all laws. (a) regional cooperatives, so depending on the geographical area in which each cooperative develops its activities, cases may arise in which the information requested in general is not significant and is therefore not necessary fill in the relevant points.

As an annex to these rules on accounting aspects of cooperative societies, the balance sheet and profit and loss account are presented in their normal and abbreviated models, which make up the annual accounts jointly with the memory.

CHAPTER 1.o

Delimitation of own funds in cooperative societies

First. Own funds.

1. Concept. The own funds of a cooperative society are identified with the amount to be deducted from the assets of the company, the income to be distributed in various financial years, the education, training and promotion fund, the risk provisions and expenses and creditors that constitute the obligations of the cooperative, presenting the following characteristics:

Reflect the set of resources, with a permanent general character, owned by the partners or other members.

Your amount is constituted by contributions from partners or other members and by resources generated by the company itself that do not have the nature of the obligation.

Their availability is, in general, subject to a number of legal constraints and requirements, so that, in the liquidation of the company, the holders are placed, with respect to the reimbursement of their own funds. correspond, behind all the common creditors.

Guarantee or solvency of the company against third parties.

2. Items that make up own funds. In particular, within the own funds they can be distinguished:

Social capital.

Reserves, from profits generated in previous years, or contributed by the partners themselves; in particular, the Obligatory Reserve Fund, the voluntary, special as the Reserve for grants and the derivatives of legal revaluations of the asset.

Other items, such as:

With positive sign: the positive surplus of the cooperative, the contributions of partners for loss compensation and the remaining and the capitalized funds referred to in the fifth standard.

With a negative sign: the cooperative's negative surplus, the "return to account", the negative results of previous financial years and, where applicable, the equity acquired for the reduction of capital.

Second. Social capital.

2.1 Constitution and increase:

2.1.1 Concept. The social capital of a cooperative society is constituted by the contributions, compulsory and voluntary, carried out for that purpose, both in cash and non-cash, either at the time of the constitution of the company or in another After the adoption of the law, it is necessary to include new partners or as a consequence of subsequent capital increase agreements or voluntary contributions, and corresponds to the subscribed capital in accordance with the Law. The basic characteristics of social capital are:

Its character of permanence or stability, so that its reimbursement or reduction is subject to a series of limitations imposed by the Law.

This affected the activity of society and, therefore, the absorption of possible social losses, in the form established by the Law.

Acts as a guarantee for social creditors.

In addition, cooperative social capital brings together the following specific aspects:

It does not serve, as a general rule, to structure voting rights.

Not used as profit sharing and loss imputation basis.

2.1.2 Annual accounts. The social capital, which collects the amount corresponding to the contributions, compulsory and voluntary, of partners, collaborators and associates or attached, in the terms provided for by the Law, will look under the heading "Cooperative subscribed capital" of the 'Own funds' grouping of liabilities, thus being amended the normal and short balance sheet, contained in Part Four of the General Accounting Plan. Where the contributor does not have the status of a partner, the contribution made shall be recorded in accordance with its nature.

2.1.3 Accounts to be used. For the purposes of the accounting record of the various contributions to the share capital, the account 100. "Social Capital" included in the second and third part of the General Accounting Plan, may be used with the following development:

1000. "Cooperative social capital: compulsory contributions".

1001. "Cooperative social capital: voluntary contributions".

1002. "Cooperative social capital: partner and partner partners or attached".

10020. "Partner partners".

10021. "Associates or attached".

The definitions and movements of these accounts will be as follows:

1000. "Cooperative social capital: compulsory contributions".

Capital subscribed in cooperative societies as a result of compulsory contributions in accordance with the Law.

Your move is as follows:

(a) It shall be paid for the initial capital and subsequent extensions corresponding to the mandatory or other contributions that correspond, such as the capitalisation of certain amounts.

(b) It shall be charged for the reductions in the share capital and the extinction of the company after the liquidation period has elapsed.

1001. "Cooperative social capital: voluntary contributions".

Capital subscribed in cooperative societies as a result of voluntary contributions in accordance with the Law.

Your move is as follows:

(a) It shall be paid for the initial capital and subsequent extensions corresponding to the voluntary contributions.

(b) It shall be charged for the reductions in the share capital and the extinction of the company after the liquidation period has elapsed.

1002. "Cooperative social capital: partner and partner partners or attached".

Capital subscribed in cooperative societies as a result of contributions made by collaborating and associated partners or adhered to in accordance with the Law.

Your move is as follows:

(a) It shall be paid by the capital corresponding to the contributions made by partner and associate members or attached.

(b) It shall be charged for the reductions in the share capital and the extinction of the company after the liquidation period has elapsed.

2.1.4 Remuneration for capital. The accounting treatment of the interest paid by the cooperative social capital, as defined in the Law, will be the one laid down in the 13th Standard.

2.2 Reductions:

2.2.1 Concept. The reduction of the cooperative social capital corresponds to the decrease of this concept as a result of the reimbursement of the contributions of the partners that cause low, the imputation of losses and other causes, according to provided by the Law.

2.2.2 Low partner capital reduction. The reductions in cooperative social capital, motivated by the reimbursement of contributions to the low-income partner, will, from the moment when the agreement of the Rector Council for which such a discharge is formalized, take effect, the change of the nature of the item, in such a way as to qualify as debt for the amount of the credited value of the contributions to the share capital on the date on which it occurs.

If, as a result of the capital reduction, any other amount corresponding to other items of own funds is repaid, they shall be qualified on the same terms as those previously stated.

This transaction requires that the amount to be repaid from the contributions to the low-end partner is recorded in the item "Debt to Partners", created for this purpose, under the heading "Debt to Group, Partner and Partner Companies" of the pool 'Short-term creditors' or 'long-term creditors', depending on the maturity, of the liabilities of the normal balance sheet included in the fourth part of the General Accounting Plan. In the short-balance sheet model, the heading 'Short-term debt with partners' shall be set up within the 'Short-term creditors' grouping of the liability. If the debentability of these debts occurs in the long term, the heading 'Long-term debt with partners' shall be set up to collect those amounts in the 'Long-term creditors' grouping; in any event, the financial effect shall be taken into account derivative of the transaction.

2.2.3 Deductions to be made on amounts to be reimbursed to the partner.

When deductions are made on the credited value of the contributions arising from the existence of imputed and imputable losses and unjustifiable losses, resulting in a result for the cooperative society, shall be charged to the items of reserves corresponding to the provisions of the Law.

For the purposes of the preceding paragraph, those losses not specifically determined in accounting at the time the discharge occurs, but which shall be taken into account in the closing balance sheet that will serve as the basis for the calculation of the final amount to be reimbursed to the partner, in accordance with the Law, are considered as imputable losses.

2.2.4 Accounts to be used. For the purposes of the accounting record of the capital reduction transactions, the capital accounts referred to in paragraph 2.1 above may be used with credit to an account that is in line with the operation carried out, i.e. reserves or debts. In particular, where the partners are to be reimbursed for the contributions made as well as the interest that may be required, it may be used within the sub-groups 17. "Long-term debts for loans received and other concepts" and 52. 'Short-term debts for loans received and other items' included in the second and third part of the General Accounting Plan, the accounts created for the purpose with the following denomination 178. 'Long-term debts for reimbursement of contributions to the partners' and 528. "Short-term debt for reimbursement of contributions to partners"; the definition and movement of which are:

178. "Long-term debts for reimbursement of contributions to the partners".

Debts incurred by the cooperative society as a result of the reimbursement of the contributions to the partners that cause low in the terms provided for in the Law.

Your move is as follows:

(a) It shall be paid for the amount of long-term repayment of the contributions to the partners that cause the discharge, as well as for any interest that may be required, at the time the agreement of the Governing Council by which the member's discharge is formalized.

(b) It shall be charged for the anticipated, total or partial repayment by credit to sub-group 57 accounts.

528. "Short-term debts for reimbursement of contributions to the partners".

Short-term debts, incurred by the cooperative society as a result of the reimbursement of contributions to the partners that cause the reduction in the terms provided for in the Law.

Your move is as follows:

(a) It shall be paid for the amount of the short-term repayment of the contributions to the partners that cause the discharge, as well as any interest that may be required, at the time the agreement of the Governing Council by which the member's discharge is formalized.

(b) It will be charged when payment is made with credit, generally, to sub-group 57 accounts.

2.3 "Capital" temporary.

2.3.1 Concept. The term "capital", which is included in certain laws, is constituted by temporary or temporary resources obtained by the cooperative from the admission of contributions resulting from the establishment of social bonds. of the duration determined and resulting from the member's temporary or defined membership of the cooperative. Its accounting nature is that of debt with specific characteristics on which it is to be reported in the memory.

2.3.2 Remuneration. The accounting treatment of the remuneration of the contributions to the temporary "capital" shall be that corresponding to the debts,

creating a item to the effect within the "Financial expense and assimilated expenses" groupings of the normal and abbreviated models of the profit and loss account included in the fourth part of the General Plan of Accounting.

2.3.3 Annual accounts. The temporary 'capital' referred to in the preceding numbers shall appear in the headings created for the purpose, within the 'Long-term creditors' and 'Short-term creditors' groups, as the case may be, of the liability of the balance sheet, the Denominations shall be:

"Creditors for" Long-term temporary "Capital" and "Creditors for" Short-Term "Temporary Capital", respectively.

2.3.4 Accounts to be used. For the purposes of the accounting record, within subgroups 17. "Long-term debts for loans received and other concepts" and 52. 'Short-term debts for loans received and other concepts' contained in the second and third part of the General Accounting Plan may be used, respectively, in the accounts 179.

"Creditors for" temporary "long-term capital" and 529. "Creditors for" short-term temporary capital ", with the following movement and definition:

179. "Creditors for temporary" Capital "in the long term."

Amount of temporary or transitional resources obtained by the cooperative society from the admission of contributions resulting from the establishment of social bonds of a given duration, in the form of legal "capital" temporary.

Your move is as follows:

(a) It shall be paid for the amount of the contributions of this nature, generally taken from the accounts of subgroup 57.

(b) It will be charged, in general, in the early cancellation of the social bond of fixed duration.

529. "Creditors for short-term temporary" capital ".

Amount of temporary or transitional resources obtained in the short term by the cooperative society from the admission of contributions resulting from the establishment of social links of a given duration, the legal form of temporary 'capital'.

Your move is as follows:

(a) It shall be paid for the amount of the contributions of this nature obtained, in charge, generally, to the accounts of subgroup 57.

(b) The cancellation of the social link of a given duration will be generally charged.

Third. Other contributions from the partners.

1. Non-reintegrable contributions or quotas. The amount required by the cooperative company to its members, in the form of contributions or non-reintegrable contributions, whether in cash or not, shall be qualified as own funds where it does not constitute the consideration or remuneration of the the goods or services provided by the cooperative to its partners-which are regulated in the Eleventh Standard-by distinguishing:

a) "income quotas" of new partners in the legally established terms.

(b) Contributions or quotas that are required for the purpose of fully or partially compensating for the loss of the cooperative society.

(c) Contributions or contributions directly aimed at increasing the reserve funds of the cooperative.

When the amounts required of the partners constitute the consideration made by the partners in exchange for the delivery of goods or the provision of cooperative services, they shall be qualified as revenue when they become established, compensating for the cost of those in accordance with the provisions of the Eleventh Standard.

2. Annual accounts. The contributions referred to have been entered in the annual accounts in the pool 'Own funds' of the balance sheet liability in accordance with the following:

(a) The "income shares" of new partners referred to in point (a) of paragraph 1 above shall be included as part of the item "Required Reserve Fund" under the heading "Reserves" of the balance sheet liability, as indicated in the Fourth Standard.

(b) The contributions or contributions referred to in point (b) of paragraph 1 above shall be collected under the heading "Partner contributions for loss compensation" under the heading "Results of previous years".

(c) The contributions or contributions referred to in point (c) of paragraph 1 above shall be collected under the heading "Reserves" under the heading "Reserves", in accordance with what has been agreed upon by the cooperative society.

3. Accounts to be employed. The accounting record of transactions with the "Mandatory Reserve Fund" may be made using the account 112. "Compulsory Reserve Fund", created in the Fifth Standard. Furthermore, account 122 may be used. 'Partner contributions for loss compensation' contained in the second and third part of the General Accounting Plan for the purpose of recording the transactions referred to in point (b) of paragraph 2 above.

Fourth. Specific reserve funds of cooperative societies.

4.1 Required reserve fund.

4.1.1 Concept. The "Compulsory Reserve Fund" is a fund that is intended for the consolidation, development and guarantee of the cooperative society, so it is identified with a set of own funds, qualifying as a legal reserve.

4.1.2 Dotting. It shall be provided by the application of the result of the cooperative with the limits laid down in the Law, provided that the benefit referred to in paragraph 1 (b) of the 12th Standard is available. If the law so establishes, it will also be nourished with the amount corresponding to the revaluation of the balance sheets, without prejudice to the fulfilment of the obligations arising from the corresponding law of update.

Without prejudice to the above, the amounts of deductions that may be established on the compulsory contributions to the share capital arising from the reduction of partners and the amounts of the funds are considered to be allocated to this reserve. membership fees in accordance with the provisions of the Second and Third Rules.

Likewise, the part of the cooperative result corresponding to inter-cooperative agreements, must be assigned to the "Mandatory Reserve Fund", if the law establishes it, according to the following:

If it is positive, it will increase that reserve to the limit of the available benefit; if this is not enough and the Law will force its endowment, voluntary reserves will be applied.

If this is negative, the "Mandatory Reserve Fund" will be reduced by this amount, affecting, in the event that there is not enough of this Fund, the voluntary reserves.

4.1.3 Annual accounts. The 'Compulsory Reserve Fund' shall be included in the balance sheet liabilities, grouping 'own funds', under the heading 'Reserves', a item with the name 'Mandatory Reserve Fund'.

4.1.4 Accounts to be used. For the purposes of the accounting record, account 112 may be used. "Required Reserve Fund" created for the purpose in subgroup 11. "Reservations" contained in the second and third part of the General Accounting Plan; its definition and movement are as follows:

112. "Mandatory Reserve Fund".

This account will register the legal reserve of the cooperative societies known as the "Mandatory Reserve Fund" in accordance with the provisions of the Law.

Your move is as follows:

a) It will be paid:

a.1) By the application of the result of the cooperative society with the criteria established in the Law, provided that there is a benefit available, with charge to the account 129.

a.2) For the amount of deductions on compulsory contributions to the share capital derived from the unjustifiable low of members, with account of the account 100.

a.3) For the amount of the corresponding membership fees.

b) We will be charged for the provision made of this reservation, in the terms provided for in the Law.

4.2 Refund or Upgrade Fund:

4.2.1 Concept. The "Refund or Update Fund" constitutes a reserve generated by the cooperative society in order to collect the revaluation or update of the contributions that are restored in the future, in the terms provided for by the Law.

4.2.2 Dotting. It shall be provided by the application of the result of the cooperative in accordance with the provisions of the Law, provided that there is a benefit available as referred to in paragraph 1 (b) of the 12th Standard. If, in accordance with the Code of Commerce, a law permitting the revaluation of assets is enacted, what will, if necessary, generate a revaluation reserve, when this is available, will be provided to this fund by the relevant party or, in his case, what the Law points out.

4.2.3 Annual accounts. The 'Refund or Update Fund' shall be included in the liability of the balance sheet, grouping 'own funds', under the heading 'Reserves', a item with the name 'Refund or Update Fund'.

4.2.4 Accounts to be used. For the purposes of the accounting record, account 114 may be used. "Refund or Update Fund" created in subgroup 11. "Reserves" contained in the second and third part of the General Accounting Plan. Their definition and movement are as follows:

114. "Reimbursement or Upgrade Fund".

1140. "Fund for incorporation of benefits".

1141. "Asset revaluation fund".

Reserves constituted by the cooperative societies in order to permit the revaluation or updating of the contributions that are restored in the terms provided for by the Law.

Your move is as follows:

(a) Account 129 shall be paid for the application of the result of the cooperative, provided that there is a benefit available, or from account 111, in the case of revaluation or updating of balance sheets, when the reservation originated in such operations would be available, in accordance with the provisions of the Law.

(b) It will be charged, in general, for the provision made of this reservation, in the terms provided for in the Law.

Fifth. Subordinated funds with maturity in the settlement of the cooperative.

5.1 Equity Fund.

5.1.1 Concept. Shares issued by cooperatives subscribed by third parties or members, intended for financing, the maturity of which shall not take place until the approval of the winding-up of the cooperative and which, for the purposes of credit, is position behind all the common creditors. In accordance with the above, they will be considered to be the own funds of the cooperative society.

5.1.2 Remuneration. The accounting treatment of the remuneration of these units shall be the one set out in the 13th Standard.

5.1.3 Annual accounts. The shares referred to in the preceding numbers shall be entered in a heading created for the purpose, within the pool 'Own funds' of the balance sheet liability, under the name 'Capitalised funds'.

5.1.4 Accounts to be used. For the purposes of the accounting record, within the sub-group 10 referred to as 'Capitalised Capital and Funds' contained in the second and third part of the General Accounting Plan, account 107 may be used. 'Equity fund and other subordinated funds with maturity in settlement', with the following movement and definition:

107 "Equity and other subordinated funds with maturity in settlement".

1070. "Equity fund with maturity in settlement".

1071. 'Other subordinated funds with maturity in settlement'.

Shares issued or funds obtained by cooperatives intended for financing, subscribed by third parties or partners, the maturity of which does not take place until the approval of the liquidation of the cooperative and which, for the purposes of (b) the rate of the loan is to be placed behind all the common creditors.

Your move is as follows:

(a) It shall be paid for the amount of the shares subscribed to by sub-group 57 accounts.

(b) It will be charged, in general, at the time of the liquidation of the cooperative.

5.2 Other subordinated funds:

Concept. Financing funds obtained by cooperatives whose maturity will not take place until the approval of the liquidation of the cooperative and which, for the purposes of credit, will be placed behind all the common creditors.

The accounting treatment of the remuneration of these funds, their incorporation into the annual accounts and the accounts to be used for their accounting records, shall be carried out in accordance with paragraphs 5.1.2, 5.1.3 and 5.1.4. previous.

CHAPTER 2.o

Delimitation of the education, training and promotion fund of cooperative societies

Sixth. Education, training and promotion fund

1. Concept. The "Fund for Education, Training and Promotion" is identified with the amounts that must be set up in the cooperatives in order to apply to certain activities which benefit the partners, workers and, in their case, to the community in general, so its endowment, is an expense for the cooperative.

The accounting record for that fund corresponds to a specific balance sheet pool created for these companies with the following name: "Education, Training and Promotion Fund".

2. Endowment. In accordance with the above, the endowment corresponding to the fund will affect the result as an expense, reflecting duly in the profit and loss account, without prejudice to its quantification being carried out on the basis of the result itself of the exercise, in the terms outlined in the Law.

In those cases where the cooperative receives grants, donations or other aid, or funds arising from the imposition of sanctions, which are linked to the fund in accordance with the law, such items shall be recorded in accordance with their accounting nature, considering an income for the cooperative, without prejudice to the accounting record of the consequent allocation to the "Fund for Education, Training and Promotion".

3. Application. The application of this fund to its purpose will produce its decline, registering with credit, generally, to a treasury account.

However, where the application of the fund materializes through activities carried out by the companies through its internal structure, the necessary accounts shall be used to reflect the information requested in the the annual accounts, in such a way that the Fund's applications can be detailed.

4. Annual accounts. The different items in the annual accounts affected by this transaction are:

The "Education, Training and Promotion Fund" shall be shown on the liabilities side of the balance sheet in the pool created for the purpose under the name "Education, Training and Promotion Fund", immediately prior to the 'Risk and expense provisions' of the balance sheet models included in Part 4 of the General Accounting Plan.

Your endowment will be recorded under a heading with the name: "Endowment to the" Education, Training and Promotion Fund "" in the pool created for the purpose, immediately after the result of the financial year, in the group of the profit and loss account models included in the fourth part of the General Accounting Plan.

If grants, donations, or other aid are obtained, or sanctions are imposed on the partners to be charged to the "Education, Training and Promotion Fund", it will be reflected in the pool created for the purpose, " Revenue attributable to the "Education, Training and Promotion Fund" in the case of the profit and loss account models included in the fourth part of the General Accounting Plan, immediately after the result of the financial year. This allocation will result in the simultaneous allocation of the "Education, Training and Promotion Fund" in line with the above.

5. Accounts to be employed. For the purposes of the accounting records of previous transactions, the following accounts may be used:

Within subgroup 13. 'Special funds and revenue to be distributed in various financial years' included in the second and third part of the General Accounting Plan, account for 139. "Education, Training and Promotion Fund", with the following content:

139. "Education, Training and Promotion Fund".

Funds intended to comply with the obligations laid down in the Law, the purpose of which is to carry out education and promotion activities.

Your move is as follows:

(a) It shall be paid for the amount of the allocations made, under account 657.

(b) It shall be charged at the time of application of the provision with a general payment to the accounts of subgroup 57 or group 6.

Within subgroup 65. "Other management and specific costs of the Cooperatives" included in the second and third part of the General Accounting Plan, account is created 657. "Endowment to the" Education, Training and Promotion Fund ", the content of which is:

657. "Endowment to the Education, Training and Promotion Fund".

Endowment to be made to the Education, Training and Promotion Fund.

It will be charged for the amount of the envelope, with credit to account 139.

Within subgroup 75. "Other management and specific revenue of the Cooperatives" included in the second and third part of the General Accounting Plan, account 757 is created. "Revenue attributable to the" Education, Training and Promotion Fund ", with the following content:

757. "Income attributable to the Education, Training and Promotion Fund".

7570. "Sanctions imposed on partners attributable to the" Education, Training and Promotion Fund "".

7571. "Grants attributable to the" Education, Training and Promotion Fund "".

7572. "Donations attributable to the" Education, Training and Promotion Fund ".

7573. "Other income attributable to the" Education, Training and Promotion Fund ".

Revenue corresponding to sanctions imposed on cooperative society partners, grants, donations and any type of aid received for the fulfilment of the fund's own purposes, which, in accordance with the established by the Law, should be charged to the "Education, Training and Promotion Fund".

It will be paid for the amount of the penalties imposed on the partners, grants, donations and others, usually charged to the accounts of subgroup 57.

CHAPTER 3.o

Delimitation of foreign funds in cooperative societies

Seventh. Foreign funds.

1. Concept. The obligations, the admission of voluntary financing of the partners or non-partners under any legal form and the remainder of the shares and financing, subordinated or not, the maturity of which does not occur on the date of the liquidation of the cooperative partnership shall be considered as a general rule, and as such must appear on the liabilities side of the balance sheet of the annual accounts.

In particular, participative securities are part of the foreign funds, without prejudice to the fact that their remuneration is fixed according to the evolution of the cooperative's activity, and may also include a fixed interest, This is the same as the one established for the participative loans regulated in Article 20 of the Royal Decree-Law 7/1996 of 7 June, that is, they are considered as debts of the cooperative.

2. Remuneration. The remuneration of the foreign funds shall be recorded as a financial expense, as part of the financial result, irrespective of whether the amount of the funds may be fixed from the result of the cooperative.

3. Annual accounts. Subordinated funds which have the consideration of foreign funds must be included in the corresponding balance sheet liabilities within the 'Long-term creditors' or 'Short-term creditors' groups in accordance with their term of office. maturity.

4. Accounts to be employed. For the purposes of accounting records, the following may be created within the sub-groups 15 "Borrowings and other similar issues" and 50 "Borrowings and other similar short-term issues" corresponding to the second and third parts of the General Plan of Accounting, accounts 157. "Other long-term stakes" and 507. "Other short-term holdings".

CHAPTER 4.o

Delimitation of concepts that are part of the profit and loss account of cooperative societies

Eighth. Result.

1. Concept. The result of the economic exercise of cooperative societies will be determined in accordance with the principles and standards of valuation contained in the General Accounting Plan and these Rules.

2. Profit and loss account. The profit and loss account of cooperative societies shall be formulated in accordance with the rules for the elaboration and structure of the General Accounting Plan, without prejudice to the specific rules established in These Rules.

Ninth. Acquisitions of goods to the partners.

1. Valuation. The valuation of the acquisitions of assets to the cooperative management partners shall be made, at the time the transaction is carried out, for the purchase price; that is, for the amount paid or pending payment corresponding to the transaction made, without prejudice to the above.

If this price is set on the basis of future circumstances, including the actual settlement price, the market price or any other parameter, an initial estimate shall be made in order to determine the price. purchase price. The part of the estimated purchase price exceeding the amount paid or committed to be paid shall, for the purposes of its accounting record, be included in a liability item on the liability side of the balance sheet. If an exercise closure from the acquisition to the final settlement is completed, those circumstances shall again be estimated at that closing date according to the information available; this new estimate shall also be made in the case of development of intermediate financial statements.

However, in the event that the Law imposes the limit, or when it has been agreed that the purchase price cannot exceed the actual settlement price or the market price, and ultimately any of the latter is less the acquisition price initially estimated, the difference between the two shall be the price of the acquisition, so that if it had been paid or committed to pay a higher amount than was finally settled, it shall be made manifest a credit to the cooperative vis-à-vis the partner, or a lower amount of the debt initially registered.

In any case, the accounting record of the acquisitions of assets to the cooperative management partners will take into account the true nature of the transaction, taking into account its economic background, in order to annual accounts reflect the true image of the heritage, financial situation and results of the cooperative society.

2. Concept of real price of settlement and market price.

2.1 Actual settlement price. -Actual settlement price or net carrying value means the value that corresponds to the sale price to third parties of the assets acquired from the partners, after deduction of the costs necessary to carry out the sale and, where appropriate, to transform the acquired goods.

2.2 Market Price. -It is understood by market price or replacement price, with a general character, the value by which a good between independent parties can be exchanged in a free transaction.

The market price will have as an orientation the amount satisfied by similar characteristics in the area where the cooperative activity takes place, without prejudice to the particularities of the operation.

3. Annual accounts.-In the case of the normal and abbreviated models of the profit and loss account, specific groupings will be incorporated for the acquisitions of goods to the partners, with the name "Acquisitions to the partners".

4. Accounts to be used. -To record the indicated, they can be created:

Within subgroup 40. "Suppliers", in the account 400 "Providers" contained in the second and third part of the General Accounting Plan, account 4007. "Cooperative partner suppliers". The definition and movement are as follows:

4007. "Cooperative partner providers".

Estimated or corresponding amount to be paid for the assets acquired from the partners when that price is set on the basis of future circumstances, including the actual settlement price or the market price of the operation.

Your move is as follows:

(a) It shall be paid for the amount of the estimate made pending payment, generally taken into account 606.

(b) It shall be charged, as a general rule, at the time of settlement of the transaction with credit to the accounts of the subgroup 57 or, where applicable, account 606.

Within subgroup 44. 'Multiple debtors' in the second and third part of the General Accounting Plan may be used for account 447. 'debtor partners: credit for transactions with partners', with the following content:

447. 'debtors' means credit for transactions carried out with partners '.

Amount to be returned by the partners as a consequence of having initially received a higher amount than the actual settlement price of the acquisition transaction or, where applicable, the settlement.

Your move is as follows:

(a) The amount of the disbursement made by the purchase that exceeds the actual settlement price shall be charged, with credit, generally, to account 606.

(b) It shall be paid, in general, at the time of receipt of the refund, from the accounts of subgroup 57.

Within subgroup 60. 'Purchases' contained in the second and third part of the General Accounting Plan may be used for account 606.

Purchases made from partners, whose movement and definition are as follows:

606. "Purchases made to the partners".

Sourcing of the cooperative society of goods included in the sub-groups 30 and 31 acquired from the cooperative partners.

This account will be charged for the amount of purchases made to the partners in accordance with the provisions of the valuation standard, the receipt of the members ' remittances or their entry on the way if the goods and goods are transport on behalf of the cooperative, with credit to account 4007 or to sub-group 57 accounts.

In particular, the estimates of the circumstances in which the purchase price is supported will produce, as the case may be, the charge or payment of this account, with credit or charge, respectively, to the account 4007, in general.

Within subgroup 61. "Change of stock" contained in the second and third part of the General Accounting Plan, account 617 may be used. "Variation of acquired stock to partners":

617. "Variation of acquired stock to partners".

The amount of the initial stock acquired from partners shall be charged and shall be paid for the final stock, with credit and charge, respectively, to the accounts 307 and 317. The balance resulting from this account will be charged or paid, as the case may be, to account 129.

Within subgroup 30. "Commercial" content in the second and third part of the General Accounting Plan, account 307 may be used.

"Mercaderies acquired from partners".

Also, within subgroup 31. 'Raw materials' contained in the second and third part of the General Accounting Plan may be used for account 317. "Raw materials acquired from partners".

In the accounts 608, 609 and 756 included in the second part of the General Accounting Plan, four-digit accounts will be created for the operations performed with partners, in terms of discounts on acquisitions.

5. Transactions carried out on behalf of the partners. Notwithstanding all the above, if the cooperative performs the operations indicated on behalf of the partner, in such a way that no acquisitions or sales of the goods are made, the corresponding financial movements shall be recorded and, where appropriate, the the remuneration obtained by the mediation service provided as an income for the financial year, without prejudice to the provision of the corresponding provision for the responsibilities that may affect the cooperative through such a process.

6. Other acquisitions to the partners. Where services are acquired from the partners other than the work partners listed in the following standard, the provisions of the preceding paragraphs of this Standard shall apply with the necessary adaptations.

10th. Acquisitions of work services to partners and workers.

10.1 Procurement of work services to partners.

10.1.1 Valuation. The valuation of the services provided by the working or working partners to the cooperative shall be carried out by the purchase price corresponding to the service provided, applying, if applicable, the rules set out in the previous Standard. In each financial year, the actual current associated with the services rendered independently of the financial current shall be treated, so that the advances referred to in the Law, in so far as they constitute the remuneration of a service An exercise shall be considered as expenditure for that financial year.

In any case, in the accounting record of the services provided by the working or working partners, account shall be taken of the true nature of the operation on the basis of its economic background, in order to ensure that the accounts are They reflect the true image of the heritage, the financial situation and the results of the cooperative society.

10.1.2 Annual accounts. -In the profit and loss account the remuneration for the services provided by the partners shall be incorporated into a specific heading whose name shall be: "Procurement to the partners".

10.1.3 Accounts to be used. -In order to collect in accounting the remuneration for the services provided by the partners, it will be possible to create in the subgroup 64. 'Staff expenses', of the second and third part of the General Accounting Plan, account 647. "Remuneration to workers ' partners" whose definition and movement are as follows:

647. "Remuneration to the working partners".

Fixed and eventual remuneration, for any concept, arising from the work carried out by the working or working partners of the cooperative society.

It will be charged, in general, for the full amount of accrued remuneration:

a1) For the effective payment, with credit to sub-group 57 accounts.

a2) For accruals and unpaid, with credit to sub-group 46 accounts.

a3) For the withholding of taxes and, where applicable, Social Security contributions by the worker with credit to the accounts of the subgroup 47.

a4) For compensation of outstanding debts to the accounts of group 2, 4 or 5 that correspond.

10.2 Procurement of services to workers.-The amount due for the remuneration of the employees of the cooperative shall be recorded in accordance with the provisions of the General Accounting Plan.

They shall be considered as expenditure for the financial year without prejudice to the fact that the final remuneration of salaried workers could be quantified on the basis of the outcome of the financial year, in accordance with the provisions of the Statutes or by agreement of the General Assembly.

11th. Revenue as a result of operations with partners.

1. Concept.-Contributions that constitute the consideration made by the partners in exchange for the delivery of goods or the provision of cooperative services, present or future, are understood in terms of cost compensation.

2. Annual accounts. -As a general rule, and provided that it does not have the character of ordinary business, for the purposes of recording the previous transaction, a consignment shall be created in the account of the profit and loss account with the following name: " Revenue for transactions with partners ", which shall form part of the grouping" Other operating income "of the normal model of the profit and loss account and the pool" Operating income " of the short model of the account losses and gains, included in the fourth part of the General Accounting Plan.

In any case, the accounting record of the partners ' consideration for the goods and services delivered by the cooperative shall take into account the true nature of the operation, taking into account its economic background, in order to ensure that the annual accounts reflect the true image of the assets, the financial situation and the results of the cooperative society.

3. Accounts to be used. -For the purposes of the accounting record of the provisions of this standard, within subgroup 75. 'Other management and specific revenue of the cooperatives' included in the second and third part of the General Accounting Plan may be used for account 756. "Revenue from operations with partners", with the following content:

756. "Revenue from operations with partners".

Amount of consideration, in terms of cost compensation, made by the partners in exchange for the delivery of goods or the provision of cooperative services.

It shall be paid for the amount of income that constitutes the consideration made by the partners in exchange for the delivery of goods or the provision of cooperative services, with a charge to the accounts of the subgroup 44 or 57.

12th. Distribution of results.

1. The distribution of the positive result of the cooperative society, i.e. the profit or surplus obtained by the cooperative in the financial year, resulting from the algebraic sum of the surplus or cooperative profits and of extra-operational and extraordinary benefits, will be performed according to the following rules:

(a) The quantification of the possible allocation to the "Compulsory Reserve Fund" and the allocation to the "Fund for Education, Training and Promotion" referred to in paragraph 2 of the previous Sixth Standard shall be carried out in accordance with the percentages and bases of calculation laid down in the Law.

(b) The available benefit resulting from the application of the above, that is, after deduction of the amounts established in the Law, shall be allocated, as laid down in the Statutes or as agreed by the General Assembly, to:

b.1) Cooperative return to the partners; the liability of the balance sheet under the heading "Debt to group, associates and partners" of the "Short-Term Creditors" group. For the purposes of accounting records, within subgroup 52. 'Short-term debts for loans received and other items' included in the second and third part of the General Accounting Plan, account may be used. "Cooperative return to pay in the short term", with the following definition and content:

525. "Cooperative return to pay in the short term."

Short-term debts with partners for cooperative returns resulting from the distribution of the available benefit, in the terms provided for by the Act.

Your move is as follows:

(a) The amount of the cooperative return shall be paid, as a general rule, when the application of the surplus is approved, taking account of the account 129.

b) Charged:

b1) By withholding tax, with credit to account 475.

b2) To the payment, with credit to sub-group 57 accounts.

When the payment of the cooperative return to the partners is long-term and accrues interest for the deferral, the amount of this debt shall be included in the liability of the balance sheet for the redemption value within the pool. long term. " For the purposes of accounting records, within subgroup 17. 'Long-term debts for loans received and other items' included in the second and third part of the General Accounting Plan may be used for account 175. "Cooperative Return to Pay in the Long Term", with the following definition and content:

175. "Cooperative return to pay long term."

Long-term liabilities with partners for cooperative returns resulting from the distribution of the available benefit, as provided for in the Act.

Your move is as follows:

(a) The amount of the long-term cooperative return shall be paid, as a general rule, when the application of the surplus is approved, taking account of the account 129.

b) Charged:

b1) By withholding tax, with credit to account 475.

b2) In advance payment, with credit to sub-group 57 accounts.

b.2) Voluntary reserve funds, registering as a distribution of the available profit, in such a way that these reserve funds will be included in the balance sheet liability under the heading "Reserves" of the "Own funds" pool.

b.3) Mandatory Reserve Fund, in excess of the amount required.

b.4) Social capital, increasing the contributions of the partners in the terms established by the Law.

b.5) Other items of own funds in accordance with the characteristics of the Law. Where the Law establishes that the amount of these items serves as the basis for the recognition of "interest" to the members, such remuneration shall be recorded in accordance with the provisions of the 13th Standard.

2. Application of the losses. -In the event that the balance of the profit and loss account is a debtor, that is, that the cooperative generates during a loss period, that amount shall be applied in the following financial year by registering in the item 'negative results of previous years' under the heading 'Results of previous years' within the pool 'Own funds' of the balance sheet liabilities, without prejudice to the application of the rules contained in this standard for the purposes of the allocation of the losses recorded in that item.

The amount of the item "Negative results from previous years" shall be offset:

a) From voluntary reserves, in accordance with the provisions of the Law.

(b) Under the "Mandatory Reserve Fund", in the terms provided for in the Law, so that, if it requires that when such a fund is insufficient, it is included in a special item, the existing difference will appear in the "Mandatory Reserve Fund" item with a negative sign, incorporating specific information into the annual accounts ' memory.

(c) The remaining amount, if any, which shall be charged to the various classes of cooperative members in accordance with the provisions of the Law, shall apply in any of the following ways:

By way of direct payment; for these purposes, the contributions or contributions collected under the heading "Partner contributions for loss compensation" referred to in point (b) of paragraph 1 of the Third Standard may be applied.

By reducing social capital, reducing the amount of compulsory and voluntary contributions from partners.

By deduction or compensation from any liability item arising as a result of financial investments made by partners in the cooperative, whether it is own funds or foreign funds, as set out in the rules contained in the first and third chapters.

With charge of future "cooperative returns" in the terms set forth in the Act. For these purposes, the balance sheet asset must be recorded in the balance sheet item under the heading "Credit to partners", taking into account the corresponding financial effect, with credit to the item "Partners contributions for loss compensation" under the heading 'Previous financial year results' of the 'Own funds' group of the balance sheet liabilities. For the purposes of the accounting record, within subgroups 25. "Other permanent financial investments" and 54. 'Other temporary financial investments' included in the second and third part of the General Accounting Plan may be used for the accounts 2527. "Credit with partners for losses to compensate in the long term" and 5427. "Credit with loss partners to compensate in the short term", which will have the following content:

2527. "Long-term credits with lost partners to compensate."

Long-term credits against partners as a result of loss imputation through the minorage of future cooperative returns, in accordance with the provisions of the Act.

Your move is as follows:

(a) The amount of the long-term credit to the partners shall be charged as a result of the allocation of losses, with credit to account 122.

(b) It shall be paid where the available benefits, including account 129 or, where applicable, account 525, are applied in advance.

5427. "Short term credits for losses to compensate".

Short-term credits against partners as a result of loss imputation through the minoring of future cooperative returns, in accordance with the provisions of the Act.

Your move is as follows:

(a) The amount of the short-term credit shall be debited against members as a result of the allocation of losses, with credit to account 122.

(b) It shall be paid when the available benefits are applied, including account 129 or, where applicable, account 525.

Where appropriate, in order to record the interests that may be produced by these items, four-digit accounts shall be established to allow the corresponding appropriations to be collected.

13th. Remuneration for contributions to social capital.

1. Concept.-The remuneration of contributions, compulsory and voluntary, to the social capital and, where appropriate, other items of own funds, is that laid down in the Statute of the cooperative society or in the admission agreement adopted by the competent body, in accordance with the provisions of the Law.

2. Annual accounts.-The remuneration of the contributions, compulsory and voluntary, to the social capital shall be quantified in accordance with the provisions of the Law and shall be considered for economic and accounting purposes as an item of expenditure of the account of losses and profits, provided that once said expenditure is computed, the surplus of the cooperative is positive or null.

To these effects, if the Law allows the remuneration of contributions to the social capital without conditioning it to the existence in the exercise of surplus of the cooperative and it does not exist, it will be treated, well as a remuneration for future profits or as a share of reserves.

In particular, the following rules will be observed:

a) Profit and loss account:

a1) In the event that there is surplus of the cooperative, a pool shall be added in the normal and abbreviated model of the profit and loss account immediately after the profit of the financial year, with the following Name: 'Interest in contributions to social capital and other funds' a2) Where the law does not require the existence of a surplus from the cooperative, and the cooperative does not exist, the accounting record of the possible remuneration of the contributions to the Social capital will not affect the profit and loss account, considering, according to nature of the transaction, which is a distribution of reserves or a distribution on account of future profits, circumstances which will not affect the liability of the partners for the losses incurred, taking into account this remuneration, agreement with the law.

b) Balance:

b1) In the event that there is a surplus of the cooperative, the heading "Surplus of the Cooperative (positive or negative)" of the liability of the normal and abbreviated models contained in the fourth part of the General Plan of Accounting, will match the one corresponding to the "Cooperative Surplus" of the normal and abbreviated models of the profit and loss account.

b2) In the event that the Law does not require the existence of surplus of the cooperative, and the cooperative does not exist:

If the remuneration of the contributions to the equity capital is considered to be considered for future profits, it shall be included in the heading "Remuneration to the account and cooperative return to account delivered in the financial year", created for the purpose, in the liability of the normal and abbreviated balance sheet models contained in the fourth part of the General Accounting Plan; circumstance which will not affect the liability of the partners for the losses they are charged with, account for this remuneration, in accordance with the Law.

If the remuneration of the contributions to the capital is identified with a distribution of reserves, the discharge of the reserves will be recorded through the charge of the corresponding item for the amount actually delivered; circumstance it shall not affect the liability of the partners for the losses incurred, taking into account this remuneration, in accordance with the Law.

3. Accounts to be used. For the purposes of the accounting record, within subgroup 65. 'Other management and specific costs of cooperatives' included in the second and third part of the General Accounting Plan may be used for account 656. "Interest in contributions to social capital and other funds".

656. "Interest in contributions to social capital and other funds".

Amount of remuneration, provided that there is surplus of the cooperative, of the contributions, compulsory and voluntary, to the social capital established in the Statutes of the cooperative society or in the adopted admission agreement by the competent body in accordance with the provisions of the Law. It shall also collect the remuneration of the subordinated funds with maturity in the settlement.

Your move is as follows:

a) It will be charged with generally credit to sub-group 57 accounts.

(b) The account shall be credited to the account 129.

Within subgroup 55. 'Other non-bank account' included in the second and third part of the General Accounting Plan, account 559 may be used. "Remuneration for contributions to social capital on account".

559. "Remuneration for contributions to social capital on account".

Amount of remuneration and interest, of contributions, compulsory and voluntary, to the share capital, on a "to account" basis of future profits as a consequence of the Law not requiring the existence of surplus of the cooperative, and it does not exist, for the remuneration of social capital. Where applicable, it shall collect the remuneration on account of the subordinated funds with maturity in the settlement.

Your move is as follows:

(a) The amount of the remuneration for the contributions delivered in the financial year to the future profit shall be charged, with the general payment of the sub-group 57 accounts.

(b) You will be paid for the amount of your balance when the benefit is obtained, with account 656.

Account 129 included in the second and third part of the General Accounting Plan, will be referred to as "Cooperative Surplus".

Fourteenth. Corporate tax expense.

1. Determination.-For the accounting of corporation tax, the differences that may exist between the surplus of the cooperative and the tax result, understood as the tax base, will be considered, provided they are due to the following causes:

Differences in the definition of expenditure and revenue between the economic and tax fields.

Differences between the temporary allocation criteria for revenue and expenditure used in those areas.

The admission in the tax area of the compensation of negative full contributions from previous years.

For these purposes, the following differences can be distinguished:

"Permanent Differences": those produced between the tax base and the accounting result before tax for the financial year that do not revert in subsequent periods, excluding offset losses.

"Temporary differences": those existing between the tax base and the accounting result before tax for the financial year whose origin is in the different temporary allocation criteria used to determine both measures and therefore revert in subsequent periods.

The "compensatory negative integrated quotas", for the purposes of determining the tax base.

The expense to be recorded by the corporation tax will be calculated on the economic outcome before tax, as modified by the "permanent differences".

The "time differences" and the offset losses shall not change the economic result for the purposes of calculating the amount of the corporate tax expense of the financial year.

The existence of tax-compensable losses will give rise to a tax credit that represents a lower tax payable in the future.

For the accounting of corporation tax, it will also be necessary to consider, that the bonuses and deductions in the tax quota, excluding withholding and payments on account, will be considered as a minorization in the amount of tax on accrued companies.

According to the above criteria, the amount to be accounted for by the accrual tax in the year shall be calculated by performing the following transactions:

In case of a separate consideration of the cooperative and extracooperative results, the "adjusted accounting result", which is the economic result before tax for the financial year or less, will be obtained. 'permanent differences' corresponding to each type of result.

The amount of gross tax will be calculated, applying the tax rate corresponding to each type of result on the respective part of the "adjusted accounting result" attributable to each of them.

Finally, the amount of the "gross tax", whether positive or negative, will be subtracted or added, respectively, from the allowances and deductions in the quota, excluding deductions and payments on account, to obtain the tax on accrued companies.

The credit for negative integrated quotas will be calculated by applying, where appropriate, the tax rates corresponding to the different taxable bases.

The differences between the corporation tax to be paid and the expense of the tax, as well as the tax credit for the tax compensation of negative full contributions, to the extent that they have a certain interest in respect of the tax the future tax burden will be recorded in the accounts 4740-Advance benefits tax, 4745-Credit for losses to be offset from the financial year ..... and 479-Deferred benefit tax.

The quantification of the respective credits and debits arising from the tax effect shall be performed taking into account the type of tax, cooperative or extracooperative, which corresponds to the nature of the related results with these credits and debits.

When the modification of the tax legislation or the evolution of the economic situation of the cooperative society results in a variation in the amount of the anticipated taxes, tax credits and deferred taxes, the balance of the aforementioned accounts shall be adjusted, with the result that the income or expenditure, as appropriate, is derived from such adjustment.

In accordance with the principle of prudence, only pre-tax and tax credits, whose future performance is reasonably assured, will be counted in the 4740 and 4745 accounts, and those other taxes will be lowered. Those who have any logical doubts about their future recovery.

notwithstanding the foregoing, the tax portion corresponding to the permanent differences may be considered as income or expense; likewise, deductions and allowances in the quota may be considered as income, excluding holds and payments on account. Such revenue and expenditure may be subject to a reasonable assessment of the conditions.

2. Accounts to be used. -For the registration of the corporate tax effect, the accounts provided for in the second and third part of the General Accounting Plan may be used, with the account 4745 " Credit for losses to compensate for the exercise .... " with the following content:

4745. Credit for losses to compensate for the financial year ...

Amount of the reduction of the tax on profits to be paid in the future derived from the existence of negative taxable bases of said tax, quotas, pending compensation.

a) It will be loaded:

a1) By the tax credit derived from the negative contributions in the tax on profits obtained in the year, with credit to the account 630.

a2) By the increase of the tax credit, with credit to account 638.

b) It will be paid:

b1) By tax credit reductions, with account 633.

b2) When the negative shares of previous financial years are offset, by the account of 630.

CHAPTER 5.o

Specific information to be incorporated by cooperative societies in the memory of annual accounts

15th. Memory.

15.1 In the normal and abbreviated models of the annual accounts memory, included in the fourth part of the General Accounting Plan, the following specific paragraphs are created as additional information: Name and content:

(a) "Separation of profit and loss account items" for the determination of the various results.

It must be detailed, when the Law so requires or, in any case, when necessary for obtaining the faithful image, the following:

For cooperatives that formulate the normal model of memory, the amount of the different items in the profit and loss account corresponding to:

Cooperative results: constituted by the income and expenses arising from the operations carried out in the cooperative activity with the partners.

Extracooperative results: constituted by the income and expenses arising from the operations carried out in the cooperative activity with non-partners.

Results of economic activities other than cooperativizada, including derivatives from foreign sources that finance them, without prejudice to the financial expenses corresponding to the cooperative results and (i) extra-operational activities which will be part of their respective results

Additionally, you will report specifically on the amount of the items that are the result of:

Investments or financial holdings in companies.

Alienation of the immobilized with the exceptions established in the Law.

Inter-cooperative agreements.

In the case that the cooperative can formulate the short memory model, the different items of the profit and loss account that affect the different results that have been mentioned may be grouped together. previously.

For the preparation of the above information, the following rules for drawing up the annual accounts must be applied:

The allocation of direct revenue and expenditure and the allocation of common revenue and expenditure shall be taken into account:

(a) Each of the activities carried out by the cooperative shall be identified in accordance with the above.

(b) Each activity shall be assigned the expenses and revenue that correspond exclusively or directly to it and shall be charged with rational criteria that are common to two or more activities.

(c) The allocation of common expenditure and revenue shall be based on criteria or indicators as objective as possible and shall be in accordance with the most common practices in this respect in the sector, provided that the expenditure and revenue charged to each activity, are the most parallel to the cost or costs of a more important functional relationship with the activities carried out, and in line with the appropriate correlation of revenue and expenditure.

(d) In accordance with the principle of uniformity, the criteria for allocation and allocation of expenditure and revenue must be established and applied systematically and maintained in a uniform manner over time.

The allocation and imputation criteria used shall be detailed in the memory and, where for exceptional and justified reasons, the criteria are to be modified, it shall also be given in the memory of those criteria. reasons as well as the quantitative impact of those changes in the valuation, considering that the changes occur at the beginning of the financial year.

In integral cooperatives the information above will only refer to the cooperative activities according to which the result is distributed.

(b) "Separate sections". -Where cooperative societies have different sections, they shall report separately on assets, liabilities, expenses and revenues for each of the sections of the company cooperative, taking into account the statutes and the following rules set out in the rules for drawing up annual accounts:

(a) Each of the sections set up by the cooperative society, defined in accordance with the specific rules, shall be identified, provided that they are significant.

Financial operations that are not specifically attributable to a section of the above will be charged to the "General Section of the Cooperative".

(b) Each section shall be allocated the assets, liabilities, expenses and income that correspond to it exclusively or directly and shall be charged with rational criteria, taking into account the following points of this rule: common to two or more sections.

c) In cases where rational criteria cannot be attributed to one or more sections of assets, liabilities, income and expenses arising from:

Financial investments.

Expenses to be distributed in various exercises.

Treasury.

Debtors for traffic operations.

Own funds.

Revenue to be distributed in various exercises.

Provisions for risks and expenses.

Creditors.

Education, training and promotion fund.

Your assignment will be done to the "General Section of the Cooperative", explaining in the memory the circumstances that motivate this assignment.

(d) The imputation of the assets, liabilities, expenses and common income shall be based on criteria or indicators as objective as possible and which are in accordance with the most common practices in this respect, always with the

guidance that the costs and revenues attributed to each section are the most parallel to the cost or costs that have a more important functional relationship with the activities performed.

(e) The criteria for allocation and allocation of assets, liabilities, expenses and income shall be established and applied systematically, in a uniform manner over time.

The allocation and imputation criteria used shall be detailed in the memory and, where for exceptional and justified reasons, the criteria are to be modified, it shall also be given in the memory of those criteria. reasons as well as the quantitative impact of those changes in the valuation, considering that the changes occur at the beginning of the financial year.

The models that collect the information above are as follows:

MODELS: (SEE IMAGES PAGES 46297 AND 46298)

c) "Education, Training and Promotion Fund".

Reports on:

Analysis of the movement of this balance sheet pool during exercise, indicating:

Initial Balance Endowments Final Balance Applications

Detail of the exercise envelopes, breaking down the different concepts that integrate them:

Endowment of the Education, Training and Promotion Fund for the financial year: concepts that integrate

-Amount based on the benefits of the cooperative in accordance with the Law.

-Interest or income from the Fund's financial investments.

-Economic sanctions imposed on the partners.

-Grants, donations and other grants.

-Other concepts.

...

...

Total Exercise Envelopes

Detail of exercise applications, breaking down the different concepts that integrate them:

Education, Training and Exercise Promotion Fund Applications: Concepts in which Amount is materialized

Different operations and amounts will be detailed according to the nature of the application.

-...

-...

Total Exercise Applications

Active assets for the purposes of this item, detailing the following:

Significant elements affect the fulfillment of the purposes of the fund.

The write-downs of those items.

Provisions and other value adjustments affecting them.

When the Law so requires, you should be informed about the settlement of the revenue and expenditure budget of the fund for the previous financial year, and the investment and expenditure plan for the current financial year.

d) "Partner operations".

In the normal memory model:

1. The policy pursued by the cooperative in respect of acquisitions in operations with the partners, indicating in particular for each type of significant operation, shall be reported as follows:

Losses Account Items and Earnings Relative to Partner Acquisitions Amount of Acquisition

...

...

...

In relation to the items in the profit and loss account relating to the acquisition of partners, the necessary breakdown of each of them shall be carried out in accordance with their nature.

2. The policy pursued by the cooperative in respect of revenue from operations with the partners, indicating in particular for each type of operation, shall be reported as follows:

Loss and Profit Account Items relative to partner income Cost of delivered goods and services

...

...

...

In integral cooperatives the information above will only refer to the cooperative activities according to which the result is distributed.

In the memory short model:

The policies pursued by the cooperative regarding cooperative, active and passive operations, carried out with the partners, will be reported.

For these purposes, integral cooperatives will be understood by cooperative activity, or those according to which the result is distributed.

e) "Temporary Capital".

The amount that is issued as a temporary "capital" indicating the due date and the number of partners in this situation.

15.2 Paragraph 3. 'Results distribution' of the normal and abbreviated models of the memory of the annual accounts included in the fourth part of the General Accounting Plan shall be worded as follows:

3. "Interest in capital and distribution of results".

3.1 Information about:

Characteristics and amount of the remuneration of the contributions to the social capital in accordance with the provisions of this Accounting Plan adapted to the specific conditions of the Cooperative Societies.

Amount of remuneration for compulsory and voluntary contributions to social capital, indicating the method of calculation of such remuneration; indicating, in addition and in an express manner, that the requirements laid down are fulfilled by the Law, and which in no case does that remuneration exceed the legally established limits.

The amount of the remuneration of the shares issued by the cooperatives, which have the consideration of own funds.

The amount of the remuneration of the subordinated debt of the cooperatives, which has the consideration of own funds.

3.2 Information about the benefit distribution proposal, according to the following scheme:

Amount Base

Profit and loss (benefit available).

Remnant.

Voluntary reserves.

Reservations ......

Total .................. ...............

Distribution or Application Amount

A required reserve fund A voluntary reserve A fund for repayment or update A cooperative return to pay A compensation for losses from previous years (credit for cooperative returns to compensate) A capital social

Total .................. ...............

3.3 Limitations for the distribution of "cooperative returns".

15.3 The "Own funds" section of the annual accounts included in the fourth part of the General Accounting Plan will be worded as follows:

In the normal memory model:

10. Own funds

10.1 Analysis of movement during the exercise of each balance sheet item included in this pool; indicating the origin of the increases and the causes of the decreases, as well as the initial and final balances.

10.2 Information about:

The amount of the minimum social capital fixed in the Statutes and the justification, if any, of their total disbursement since the cooperative's constitution. In the case of non-cash contributions to the share capital, it should be noted in the financial year that the valuation fixed by the Rector Board is incorporated. In addition, the amount of the contributions made by the collaborating partners shall not exceed the percentage fixed by the Law, if any. The amount of social capital corresponding to the associates or the injured shall also be reported.

The amount of social capital that corresponds to the inactive partners, not users or surpluses, to the honorific partners, as well as the number of partners that are in each of these situations.

The number of test partners and the proportion they represent in relation to the total of the cooperative's partners.

The amount of the minimum mandatory contribution to the social capital to be a partner, as well as, where appropriate, the amount of the new mandatory contributions agreed by the General Assembly and the justification for the disbursement made of the provisions of the Law.

The amount of voluntary contributions to the share capital, as well as the justification for the disbursement made at the time of the subscription and, where applicable, the date of enforceability and the amount of the outstanding disbursements.

Social capital increase in progress, indicating the contributions to subscribe, its amount, the initial disbursement, the rights that they will incorporate and restrictions that they will have; as well as, the time allowed for the subscription.

Ongoing social capital reductions, indicating their nature, amount, as well as any other significant circumstances.

Specific Circumstances that restrict the availability of reservations.

The amount of the reimbursement resulting from the settlement of the contributions in accordance with the law, indicating the amount of the deductions practiced. The repayment period shall also be indicated and the amount of interest to be paid annually together with the part of the amount to be reimbursed.

The amount of subordinated finance with maturity in the settlement which, in accordance with the provisions of this Provision, has the nature of own funds. In addition, the amount and the characteristics of the remuneration of the subordinated debt with maturity in the settlement shall be reported.

When required by the Act, the amounts outstanding shall be reported for the exercise of the "Mandatory Reserve Fund".

Amount of voluntary reserves that have the consideration of deliverables and undeliverables according to the Law.

In the memory short model:

6. Own funds

Analysis of the movement during the exercise of each balance sheet item included in this pool; indicating the origins of the increases and the causes of the decreases, as well as the initial and final balances.

In particular, the amount of the minimum social capital laid down in the Statute and the justification for its total disbursement from the cooperative's constitution shall be reported; in the case of non-cash contributions to the capital The amount of the contributions made by the collaborating partners; the amount of the share capital corresponding to the associates or the employees; the amount of the share capital which the company has to make; it is up to the inactive partners, not users or surpluses, to the honorific partners, as well as the number of partners in each of these situations and the number of the partners to be tested and the proportion they represent in relation to the total of the cooperative's partners.

When required by the Act, the amounts outstanding shall be reported for the exercise of the "Mandatory Reserve Fund".

Amount of voluntary reserves that have the consideration of deliverables and non-deliverables.

15.4 The "Tax situation" section of the normal model memory of the annual accounts included in the fourth part of the General Accounting Plan will be worded as follows:

15. Tax situation

Explanation of the difference between the exercise cooperative's surplus and the tax result.

Reconciliation of the result with the tax base of the Corporate Tax

Surplus of the cooperative in the financial year .............................. ............

Decreases

Company Tax ............ ............ ............

Permanent Differences ............ ............ ............

Temporary differences:

-With origin in exercise ............ ............ ............

-With origin in previous exercises ............ ............ ............

Tax base (tax result) ............

In addition, the following information must be indicated:

The difference between the tax burden charged to the financial year and the previous years and the tax burden already paid or to be paid for those exercises, in so far as that difference has a certain interest in respect of the future tax burden. This difference must be broken down, distinguishing between advance tax and deferred tax.

The differences that occur between the accounting valuation and the one that would correspond to exceptional value corrections of the assets of the fixed assets and the working assets that are due solely to the application of the tax legislation, duly justified.

Negative integration fees pending tax compensation, indicating the time and conditions for making it.

Nature and amount of tax incentives applied during the financial year, such as deductions and reliefs to investment, job creation, etc., as well as to deduct.

Also, regardless of the incentives mentioned that the cooperative enjoys, it should be indicated if the cooperative is to the tax regime of cooperatives, concreting if it is a cooperative protected or especially protected.

Commitments acquired in relation to tax incentives.

Any other substantive circumstances in relation to the tax situation.

In the case that the cooperative is taxed at different rates, the previous reports refer to the quantities corresponding to each outcome and their reconciliation.

15.5 Point 2 of the "Revenue and Expenditure" section of the normal model of memory for the annual accounts included in the fourth part of the General Accounting Plan is worded as follows:

17. Revenue and expenditure.

2. Information about:

Transactions made with group and associated companies detailing the following:

Purchases made, purchases returns, and "rappels".

Sales made, sales returns, and "rappels".

Services received and provided.

Interest paid and loaded.

Dividends and other distributed profits.

Transactions made in currency other than the euro, with separate indication of purchases, sales and services received and provided.

The distribution of the net amount of the business figure corresponding to the cooperative's ordinary activities, by categories of activities as well as by geographic markets. The omission of the information required at this point must be justified, where it may lead to serious damage to the cooperative.

Average number of persons employed in the course of the financial year, distributed by category.

Extraordinary expenses and revenues, including income and expenses for previous years.

Expenses and revenues that, having been accounted for during the financial year, correspond to a later one.

Expenditure and revenue charged to the financial year to be satisfied in a subsequent year.

MODELS: (SEE IMAGES PAGES 46301 TO 46305)