ACC407ACCOUNTING AND AUDITING FOR COOPERATIVES

ACC407 provides an in-depth exploration of accounting and auditing practices tailored for cooperative organizations. The course covers the unique accounting requirements for cooperatives, including member contributions, share capital, dividends, and the distribution of surpluses. Students will learn the fundamentals of cooperative financial statements, focusing on how to record, analyze, and report transactions specific to cooperatives. The course also examines the regulatory framework governing cooperatives, ensuring compliance with legal and ethical standards in cooperative accounting.

In addition to accounting, the course focuses on auditing practices within cooperatives. Students will study the auditing process, including planning, risk assessment, internal control systems, and how to identify fraud and errors in cooperative financial statements. Through case studies and practical exercises, students will develop the skills to assess the financial health of cooperatives, ensuring accurate reporting and transparency. By the end of the course, students will be equipped with the knowledge needed to manage cooperative accounts effectively and perform audits that ensure accountability and compliance with relevant laws.