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COP416Management Sciences2 Unitsintermediate

Cooperative Accounting

This course provides a comprehensive introduction to cooperative accounting principles and practices. It covers key areas such as basic bookkeeping, financial statements, bank reconciliation, and accounts for sole proprietorships and partnerships. The course also explores manufacturing accounts and control accounts. Emphasis is placed on understanding accounting concepts, preparing financial reports, and analyzing financial data within the context of cooperative societies and non-profit organizations. Students will learn to apply accounting techniques to ensure accurate financial record-keeping and effective decision-making in cooperative settings.

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208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

Cooperative AccountingBookkeepingFinancial StatementsBank ReconciliationNon-Profit Accounting

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

🔬

Learning Type

Hands-on Practice

Course Topics

Key areas covered in this course

1

Cooperative Accounting Principles

2

Basic Bookkeeping

3

Financial Statements Preparation

4

Bank Reconciliation

5

Sole Proprietorship Accounting

6

Partnership Accounting

7

Manufacturing Accounts

8

Control Accounts

9

Accounting from Incomplete Records

10

Non-Profit Organizations Accounting

Total Topics10 topics

Requirements

Knowledge and skills recommended for success

Basic Accounting Principles

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Cooperative Accountant

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Bookkeeper

Apply your skills in this growing field

Accounting Officer

Apply your skills in this growing field

Auditor

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Cooperative SocietiesCredit UnionsAgricultural CooperativesRetail CooperativesNon-Profit Organizations

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Introduction

4h

Unit 1: Overview of Cooperative Accounting

2 study hours

•Read Unit 1: Overview of Cooperative Accounting, focusing on the concept of cooperatives and their importance.
•Define cooperatives and cooperative societies.
•Explain the role of accounting in cooperatives and its significance.
•Identify and describe the various reports used in cooperative accounting.

Unit 2: Overview of Accounting

2 study hours

•Read Unit 2: Overview of Accounting, focusing on the definition of accounting and its role in business.
•Explain the accounting cycle and its various stages.
•Enumerate and explain the accounting concepts and conventions.
•Discuss the purpose and uses of accounting information.

Week

2

Module 1: Introduction

4h

Unit 3: Basic Book-keeping

2 study hours

•Read Unit 3: Basic Book-keeping, focusing on the meaning and objectives of book-keeping.
•Discuss the books of account and their importance in recording transactions.
•Explain the accounting information generating process.
•Describe and apply the principles of the double entry system.

Unit 4: The Cash book, Petty Cash Book, and the Imprest System

2 study hours

•Read Unit 4: The Cash book, Petty Cash Book, and the Imprest System, focusing on the nature and uses of the cash book.
•Distinguish between the treatments given to various items in the cash book.
•Demonstrate the columnar cash books.
•Define a petty cash book and the imprest system.

Week

3

Module 1: Introduction

3h

Unit 5: Financial Statements

3 study hours

•Read Unit 5: Financial Statements, focusing on the objectives and structure of financial reports.
•Discuss the components and formats of the Trading and Profit and Loss Account and the Balance Sheet.
•Distinguish between the capital and revenue items of the financial statements.
•Discuss the difference between Accounts receivable and accounts payable.

Week

4

Module 2: Core Accounting Principles

3h

Unit 1: Bank Reconciliation Statements

3 study hours

•Read Unit 1: Bank Reconciliation Statements, focusing on why the bank balance obtained from the cash book differs from the bank statement.
•Discuss the need for bank reconciliation statements.
•Prepare the bank reconciliation statements to agree with the two balances.

Week

5

Module 2: Core Accounting Principles

3h

Unit 2: Accounts of Sole Proprietorships

3 study hours

•Read Unit 2: Accounts of Sole Proprietorships, focusing on the characteristics of one-man business.
•Explain the equity composition of sole proprietorship.
•Explain 'drawings' in relation to sole proprietorship.
•Discuss the nature of tax in one-man business.

Week

6

Module 2: Core Accounting Principles

3h

Unit 3: Introducing Partnership Accounts

3 study hours

•Read Unit 3: Introducing Partnership Accounts, focusing on distinguishing between companies and partnerships.
•Explain the accounting treatments relative to admission of a new partner.
•Work out the profit ratio after admission of a new partner.
•Discuss goodwill in partnerships.

Week

7

Module 2: Core Accounting Principles

3h

Unit 4: Manufacturing Accounts

3 study hours

•Read Unit 4: Manufacturing Accounts, focusing on the objectives of a manufacturing account.
•Discuss the classification of manufacturing costs.
•Distinguish between manufacturing costs and nonmanufacturing costs.
•Explain the valuation of closing stock relative to manufacturing concerns.

Week

8

Module 2: Core Accounting Principles

3h

Unit 5: Control Accounts

3 study hours

•Read Unit 5: Control Accounts, focusing on the meaning of control accounts.
•Discuss how control accounts are written-up.
•Explain the advantages of control accounts.
•Give accounting treatment to certain items in the control accounts.

Week

9

Module 3: Advanced Accounting Topics

3h

Unit 1: Accounts from Incomplete Records

3 study hours

•Read Unit 1: Accounts from Incomplete Records, focusing on giving meaning to the term 'incomplete records'.
•Compute the trading results where no records are kept.
•Compute the trading results and net investments in the business where partial records are kept.

Week

10

Module 3: Advanced Accounting Topics

3h

Unit 2: Accounts of Non-Profit Organisations

3 study hours

•Read Unit 2: Accounts of Non-Profit Organisations, focusing on explaining the characteristics of non-profit organisations.
•Explain the accounting requirements of clubs and associations.
•Prepare receipts and payments accounts.
•Prepare income and expenditure accounts.

Week

11

Module 1: Introduction

8h

Unit 1: Overview of Cooperative Accounting

4 study hours

•Review all units from Module 1: Introduction.
•Focus on understanding the basic accounting principles and their application in cooperative accounting.
•Practice solving problems related to bookkeeping and financial statements.

Unit 2: Overview of Accounting

4 study hours

•Review all units from Module 1: Introduction.
•Focus on understanding the basic accounting principles and their application in cooperative accounting.
•Practice solving problems related to bookkeeping and financial statements.

Week

12

Module 2: Core Accounting Principles

8h

Unit 1: Bank Reconciliation Statements

4 study hours

•Review all units from Module 2: Core Accounting Principles.
•Focus on understanding the bank reconciliation, sole proprietorship, partnership, manufacturing and control accounts.
•Practice solving problems related to these topics.

Unit 2: Accounts of Sole Proprietorships

4 study hours

•Review all units from Module 2: Core Accounting Principles.
•Focus on understanding the bank reconciliation, sole proprietorship, partnership, manufacturing and control accounts.
•Practice solving problems related to these topics.

Week

13

Module 3: Advanced Accounting Topics

8h

Unit 1: Accounts from Incomplete Records

4 study hours

•Review all units from Module 3: Advanced Accounting Topics.
•Focus on understanding the accounts from incomplete records and accounts of non-profit organizations.
•Practice solving problems related to these topics.

Unit 2: Accounts of Non-Profit Organisations

4 study hours

•Review all units from Module 3: Advanced Accounting Topics.
•Focus on understanding the accounts from incomplete records and accounts of non-profit organizations.
•Practice solving problems related to these topics.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all key concepts and definitions from each unit.

2

Practice solving numerical problems from the TMAs and examples in the course material.

3

Focus on understanding the differences between accounting for profit-making and non-profit organizations.

4

Create summaries of key financial statements and their components.

5

Practice preparing bank reconciliation statements and identifying common errors.

6

Review the accounting treatment for different types of business entities (sole proprietorships, partnerships).

7

Allocate sufficient time to review manufacturing accounts and cost classifications.

8

Understand the purpose and function of control accounts in maintaining accurate financial records.

9

Practice reconstructing financial statements from incomplete records using various techniques.

10

Review all relevant formulas and accounting equations.

11

Create concept maps linking Units 3-5 financial statement concepts.

12

Practice journal entries from Units 7-9 weekly.

13

Review all TMAs.

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