Journal of Co-operative Studies 65, 11-15

Journal of Co-operative Studies, No. 65 - return to full issue

Abstract

The article by Lord Gallacher in the January 1989 edition of the Journal included a comment that the form of accounts of retail Co-operative societies which he sees nowadays seems 'as much designed to obscure as reveal'. This contention was examined in a chapter on Co-operative societies in "Financial Reporting 1988-9" published by the Institute of Chartered Accountants in England and Wales, including a survey of the 22 largest co-operative retail Societies. The article concludes that many of the accounts examined failed to provide information in a manner that enables members to assess the performance of their society or to compare with other societies. The article concludes with a series of recommendations.