D.g.ruparel College Of Arts,science & Commerce Mahim,mumbai - 400016

D.G.RUPAREL COLLEGE OF ARTS,SCIENCE & COMMERCE MAHIM,MUMBAI - 400016

PROJECT REPORT ON ACCOUNTING &STATUTORY REQUIREMENTS OF COOPERATIVE SOCIETIES BY SHRADDHA SANTOSH KADAM MC - 5043 TO ASHOK GUJAR MCOM- II SEM - III

INTRODUCTION   

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MEANING A CO-OPERATIVE IS A VOLUNTARY ASSOCIATION STARTED WITH THE AIMS OF SERVICE OF ITS MEMBERS. The philosophy of the formation of co operative society is ‘all for each and each for all’. DEFINATION Section 4 , of the Indian co-operative societies act 1912 defines a co-operative ‘as a society which has its objectives the pramotion of economic interest of its members in accordance with co operative principles’ .

FORMATION OF CO OPERATIVE SOCIETY A co-oprative society must be formed under the co operative societies act 1912 or under the relevent state co operative societies law. A co operative society should be formed by atleast 10 adults .

FEATURES OF CO OPERATIVE ORGANISATION Voluntary association  Equal voting rights  Service motive  Seperate legal entity  Democratic management  Cash trading  Disposal of surplus  Team spirit 

TYPES Consumer co operative  Producers co operative  Co operative credit society  Co operative housing society  Co operative farming society  Co operative marketing society  Single / multipurpose co operative society 

STATUES GOVERNING CO OPERATIVES AND NPO Co operative societies act 1912  Multistate co operative societies act 2002  State co operative societies act………[rajasthan 2001]  NABARD act 1981  Mutually aided co operative societies act [macs] 

MEMBERSHIP Classes of Members  Members , including associate members and  Nominal members

BASIC

ELIGIBILITY FOR MEMBERSHIP

Individual who is competent to contract under the indian contact act 1872  Firm,company or any other body corporate constituted under any law for the time being in force , or a society registered under the societies Registration Act 1860  Society registered , or deemed to be registered under the act  The state government or the central government  Local authority  Public trust registered under any law for the time being in force for the registration of such trusts . 

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By shraddha kadam MC- 5043