CO-OPERATIVE ENTITIES AND THEIR FINANCIAL RESULTS AS A SOURCE OF FINANCING THEIR ACTIVITIES - RULES OF SETTING, CALCULATING AND USING IT (Wynik finansowy przedsiebiorstw spóldzielczych jako zródlo finansowania... - zasady jego ustalania...)

Co-operatives are the enterprises operating in market economy on the rules and conditions concerning the all other forms of economic activity. They are obliged to keep books due to Accounting Act concerning their specificity and financial economy. The co-operatives accounting should therefore be based on the regulations of the Accounting Act and the Cooperative Law. Moreover, in referring to housing co-operatives, they should also follow the rules gathered in the legal act controlling the conditions of operating such co-operatives. The co-operatives are characteristic of their self financing and full responsibility for contractors, tax organs and their members. This means, that the co-operatives are fully responsible for the results on their economic activity and their liabilities. The result determining the market position of the co-operative is generated income. The obtained net profit can be accumulated as a source of its development or can be shared between co-operative's members due to its further consumption. The decisions regarding the usage of the net profit of the co-operative are taken independently by co-operative's members.