Application of order EHA/3360/2010 over accounting issues on cooperative societies: effects on own funds in cooperatives of the Basque Country
The aim of this work is to study the effects that the implementation of a new accounting regulatory framework, which involved the application of the IAS 32, has caused on the equity of worker cooperatives in the Basque Country. On the one hand, we have analyzed different decisions that cooperatives...
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| Autores principales: | , , |
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| Formato: | article |
| Lenguaje: | EN ES |
| Publicado: |
AECOOP Escuela de Estudios Cooperativos
2015
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| Materias: | |
| Acceso en línea: | https://doaj.org/article/86a67f33995647de8748347b8808ac38 |
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| Sumario: | The aim of this work is to study the effects that the implementation of a new accounting regulatory framework, which involved the application of the IAS 32, has caused on the equity of worker cooperatives in the Basque Country. On the one hand, we have analyzed different decisions that cooperatives have adopted in their assemblies to protect the consideration as equity of members´ shares and others funds that are recoverable by members when they leave the cooperative. Furthermore, we have studied the effect that the accounting policy change has on the core variables of equity and in financial solvency ratios of these companies. According to our results, the accounting policy change did not have a significant impact on the equity of most worker cooperatives of Basque Country, mainly due to the fact, they have opted to change their statutory rules in order to protect cooperative´s equity from the new accounting framework. However, we have found that the cooperatives have not adapted their statutes have been forced to make reclassifications from equity to liability, which have entailed a very significant impact on equity. |
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