REVISED STANDARD CHART OF ACCOUNTS FOR

COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

STATEMENT OF FINANCIAL CONDITION

10000 ASSET ACCOUNTS - are resources controlled by the cooperative
as a result of past events and from which future economic benefits
are expected to flow to the cooperative
11000- CURRENT ASSETS Cash and other assets that are reasonably
expected to be realized in cash or intended
12000 for sale or consummation within twelve
months after the balance sheet date, or the
normal operating cycle of the business,
unless it is restricted from being exchanged
or used to settle a liability for at least
twelve months after the balance sheet date
(PFRFC Chapter IV, Section 2.1.)
11100- Cash and Cash Cash and short term, highly liquid
Equivalents investments, and held to meet short-term
11180 cash commitments rather than for
investment or other purposes. An
investment normally qualifies as a cash
equivalent only when it has a short maturity
of, say, three months or less from the date
of acquisition. (PFRFC Chapter VII,
Sections 2)
11110   Cash on Hand This account refers to money (bills and
coins) still in the possession of the
cooperative’s custodian.  
11120   Checks & Other Cash This account refers to dated checks, postal
Items  (COCI) money order (PMO) and demand drafts
awaiting deposits
11130   Cash in Bank This account refers to money deposited in
the bank under the name of the
cooperative, i.e. savings, current, time
deposits, and combo-account.  A
subsidiary ledger shall be maintained for
each bank account.
11140   Cash in Cooperative This account refers to money deposited in
Federation the federations to which they are affiliated,
i.e. savings and time deposits which are
unrestricted and readily available when
needed.  A subsidiary ledger shall be
maintained for each account.

11150   Petty Cash Fund This account refers to limited amount of

money set aside for small expenditures
such as stationeries, supplies and fares
maintained under an imprest system. It
should be replenished periodically when
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

the fund gets low.  

11160   Revolving Fund This account refers to the amount set aside
to cover disbursements for recurring
transactions maintained under an imprest
system. It should be replenished
periodically when the fund gets low . This
may include emergency purchases,
withdrawal of deposits, release of loan
proceeds, etc., the maximum amount of
which shall be predetermined by the Board
of Directors.   
11170   Change Fund This account refers to the reasonable
amount of money set aside by BOD to
change bigger amount of bills to smaller
denomination or coins or vise versa.
11180   ATM Fund This account refers to the money placed in
the ATM manned by the cooperative.  
11200- Loans And These refer to financial assets with fixed or
Receivables determinable payments that are not quoted
11300 in an active market. A receivable is
recognized for the difference between the
gross receivable and the related unearned
interest income (PFRFC Chapter 10,
Section 4.1., par. 5)
11210   Loans Receivable – This account refers to the outstanding
Current balance of loans granted to the members
which are not yet due.
11220   Loans Receivable - This account refers to outstanding balance
Past Due of loans to member-borrowers not paid on
installment due dates using the Portfolio at
Risk (PAR).
11230   Loans Receivable This account refers to receivables from the
Restructured memberborrowers whose loan accounts
were restructured upon full payment of
interests due.
11240   Loans Receivable – This account refers to receivables from
Loans in Litigation memberborrowers under legal action.  The
loan shall remain in this account during the
pendency of the legal proceedings and
until fully paid/restructured/foreclosed and
undergone proceedings.
11241   Unearned Interests This account refers to interest on loans
and Discounts deducted in advance and presented as a
contra asset account.
11242   Allowance for This account refers to the cumulative
amount of probable or impairment losses
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

arising from noncollection of loans.

Probable Losses  –
Loans
11250   Accounts This account refers to the amount due from
member, non-member patrons and/or ATM
Receivables Trade  providers resulting from services rendered
and sales of related goods /merchandise
which are expected to be collected within
– Current
the credit terms set by the Board of
Directors.    
11260   Accounts This account refers to total trade
receivables due from members and/or non-
Receivables Trade  member patrons which remain unpaid
beyond the credit terms set by the BOD.
- Past Due
11270   Accounts This account refers to total Trade
receivables from the member & non-
Receivables Trade  member patrons whose accounts were
restructured upon full payment or
settlement of interests due and/or
- Restructured
penalties.
11280   Accounts This account refers to total trade
receivables from member and non-
Receivables Trade  member patrons under legal action. The
receivables shall remain in this account
during the pendency of the legal
- in Litigation
proceedings and until fully settled.
11281   Allowance for This account refers to the cumulative
amount of probable or impairment losses
Probable Losses  - arising from noncollection of accounts.

Accounts 

Receivable Trade
11290   Installment This account refers to the amount due from
members and non-member patrons for
Receivables – sale of merchandise/goods on a deferred
payment or installment plan. 
Current
11300   Installment This account refers to amount due from
members and non-member patrons for
Receivables – Past sale of merchandise / goods on a deferred
payment or installment plan which remain
unpaid beyond the terms set by the
Due
cooperative.  
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

11310   Installment This account refers to amount due from

Receivables – members and non-member patrons for
Restructured sale of merchandise / goods on a deferred
payment or installment plan that were
restructured upon full payment or
settlement of interests due and/or
penalties.
11320   Installment This account refers to amount due from
members and non-member patrons for
Receivables  - in sale of merchandise / goods on a deferred
payment or installment plan under legal
action.  The receivables shall remain in this
Litigation
account during the pendency of the legal
proceedings and until fully settled.
11321   Allowance for This account refers to the cumulative
amount of probable or impairment losses
Probable Losses arising from noncollection of installment
receivables
- Installment     

Receivables 
11322   Unrealized Gross This account refers to the unrealized
Margin portion of the gross margin on goods sold
on installment basis.  This is a contra
account to installment receivable. (used by
coops involved in real estate operations)
11330  Sales Contract This account refers to amortized cost of
Receivable  the receivables arising from installment
sale of assets acquired in settlement of
loans/obligations. 
11331   Allowance for This account refers to the cumulative
Probable Losses   amount of probable or impairment losses
that may arise from noncollection of
- Sales Contract payment on Sales Contract Receivables. 
Receivables
11340  Accounts This account refers receivables other than
accounts receivable-trade. Examples of
Receivable – non this, income tax receivable, and insurance
trade claims receivable, etc.
11341  Allowance for This account refers to the cumulative
Probable Losses   - amount of probable or impairment losses
Accounts that may arise from non-collection of
Receivablenon trade payment on Accounts Receivablenon trade
11350  Advances to This account refers to duly approved cash
advances for official business to officers,
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

employees and members, subject to

Officers,  liquidation in accordance with the policy of
the cooperative.
Employees and

Members
11360  Due from  This account refers to total collectibles due
Accountable from accountable officers and employees
arising from shortages, losses  and
Officers,   unliquidated cash advances beyond the
prescribed period,  that are subject to
immediate settlement.
Employees and

Members
11370  Finance Lease This account refers to receivables arising
Receivable from sale of goods/property under finance
lease agreement.
11371  Allowance for This account refers to the cumulative
Impairment – Finance amount of impairment loss that may arise
Lease Receivable from non-collection of payment on Finance
Lease Receivables.
11380  Other Current This account refers to
Receivables transactions/adjustments not classified
under any of the receivable accounts
mentioned.
11400 Financial Assets These are financial instruments excluding
cash and cash equivalents, loans and
receivables, investment in associates,
investment in joint ventures, and
investments in subsidiaries
11410  Financial asset at fair This account refers to financial assets with
value through profit or quoted price in the form of debt or equity
loss securities that are held for trading
purposes. 
11420  Financial asset at cost This refers to financial assets in the form of
debt or equity securities which are not
quoted in an active market and are
expected to be realized in cash within one
year from the reporting period (net of
impairment)
11500 Inventories These are assets: (a) held for sale in the
ordinary course of business; (b) in the
process of production for such sale; or c) in
the form of materials or supplies to be
consumed in the production process or in
REVISED STANDARD CHART OF ACCOUNTS FOR
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

the rendering of services.

11510    Merchandise This account refers to cost of goods on
Inventory hand out on consignment and in-transit,
available for sale at the end of the
accounting or reporting period.
11520    Repossessed This account refers to fair value of
Inventories inventories previously sold but regained as
a result of the default of the payments due
from members/customers.
11530   Spare This account refers to spare
parts/materials and other goods on hand
Parts/Materials & and in transit

Other Goods

Inventory
11540    Raw Materials This account refers to cost of raw materials
Inventory on hand and in transit at the end of the
accounting or reporting period.
11550   Work in Process This account refers to cost of job or work in
Inventory process on hand at the end of accounting
or reporting period.
11560   Finished Goods This account refers to cost of completed
Inventory job or work orders and goods
manufactured/ produced/ processed on
hand and ready for sale at the end of
accounting or reporting period
11570   Inventory Agricultural This account refers to the harvested
Produce product of the biological assets measured
at cost. 
11580   Equipment for Lease This account refers to cost of equipment
Inventory on hand intended for lease purchase
agreement.
11590   Allowance for This account refers to allowance set aside
impairment -  to provide for impairment losses on
Inventory inventory.  This is a contra account to
Inventories.
11600 Biological Assets This account refers to living animals and
plants that are intended for sale.  This shall
be measured at cost.
12000 Other Current Assets This account refers to any other current
assets not classified above which are
expected to be realized, consumed or used
within the year.  
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

12110   Input Tax This account refers to value-added tax due

from or paid by a VAT
registered/registrable entity on the
importation or local purchases of
merchandise/goods or services including
lease or use of property.  
12120   Creditable VAT An amount of Value Added Tax withheld
by a cooperative supplier arising from sale
or procurement of goods/services from a
taxable institution/cooperative.
12130   Creditable Refers to an amount that is withheld by
Withholding Tax cooperative supplier arising from sale or
procurement of goods/services from a
taxable institution/cooperative
12140   Deposit to Suppliers  This account refers to the amount paid in
advance to suppliers.
12150   Unused Supplies  This account refers to cost of supplies on
hand.
12160   Assets Acquired in This refers to non real properties acquired
Settlement of in settlement of loans and receivables
Loans/Accounts through foreclosure.
12161   Accumulated This account refers to the total amount of
Depreciation and depreciation and impairment assets
acquired in settlement of loans/accounts
ImpairmentAssets that are set up periodically and charged
Acquired in Settlement against the current operations.
of loans/accounts

12170   Prepaid Expenses This account refers to payments made in

advance, to be amortized within one (1)
year (e.g. insurance, interest, rentals, etc.)
12200   Other Current Assets This account refers to current assets not
falling in any of the above categories.
13000- NON CURRENT All other assets not classified as current to
ASSETS include tangible, intangible, operating and
17000 financial assets of a long term nature.
13100 Financial Assets Long  (excluding cash and cash equivalents,
Term loans and receivables, investment in
associates, investment in joint ventures,
and investments in subsidiaries)
13110  Financial asset at cost This refers to financial assets in the form of
equity securities which are not quoted in an
active market and are expected to be
realized in more than one year from the
reporting period (net of impairment)
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

13120  Financial Asset at This refers to financial assets in the form of

amortized cost debt securities which are expected to be
realized in more than one year from the
reporting period (net of impairment)
13200 Investment in This account refers to the amount of the
Subsidiaries cooperative’s investment in the equity
instruments of non-cooperative
subsidiaries  (ownership of the more than
50% of the voting shares) 
13300 Investment in This account refers to the amount of the
Associates  cooperative’s investment in the equity
instruments of associates. (ownership of
the 20%- 50% of the voting shares)
13400 Investment in Joint This account refers to the amount of the
Ventures cooperative’s investment in shares of
stocks of joint ventures evidenced by
contractual agreement that gives the
venturers joint control.
13500 Investment Property Investment property is property (land or a
building, or part of a building, or both) held
by the cooperative to earn rentals or for
capital appreciation or both, rather than for:

(a) use in the production or supply of goods

or services or for administrative purposes;
or (b) sale in the ordinary course of
business.
13510   Investment Property - This account refers to cost of land that
Land generate income or capital appreciation or
both, not used in production of goods,
supply or services nor for administrative
purposes or sale in the ordinary course of
business measured at cost. Fair value of
the property must be disclosed at the end
of the accounting/reporting period. 
13520   Investment This account refers to the cost of building
that  generate income or capital
Property –  Building appreciation or both, not used in production
of goods, supply or services nor for
administrative purposes or sale in the
ordinary course of business measured at
cost and subject to depreciation.  
13521   Accumulated This account refers to the total amount of
Depreciation –  depreciation and impairment on Investment
Property – Building that are set up
periodically and charged against the
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

current operations.
Investment 

Property-Building
13530  Real Properties This account refers to real properties (Land
Acquired (RPA) and Building) acquired by the co-op in
settlement of loans and receivables
through foreclosure or dacion  enpago
and/or for other reasons.  Should the
cooperative use such assets in its main
operation, the same assets shall be re-
classified accordingly.
13610   Accumulated This account refers to the cumulative
Depreciation – RPA amount of impairment loss incurred on
RPA, which shall be accounted for in
accordance with PAS 36
14000 Property, Plant and These are tangible assets that:(a) are held
Equipment for use in the production or supply of goods
or services, for rental to others, or for
administrative purposes, and (b) are
expected to be used during more than one
period.
14110   Land This account refers to the acquisition cost
of the land used for its main operation plus
all incidental costs . All these are reflected
in a single cost (fair market value or
appraised value if donated).   At the end of
the accounting/ reporting period, fair value
of the property must be disclosed.
14120   Land This account refers to the cost of
improvements after land acquisitions such
Improvements as fencing, roadways, landscaping, etc,
that are subject to depreciation over their
useful lives.
14121   Accumulated This account refers to the total amount of
depreciation/ impairment loss on land
Depreciation–  improvement that are set up periodically
and charged against the current
operations.
Land

Improvements
14130   Building and This account refers to the
Improvements acquisition/construction cost of the building
and its improvement on the land owned
and used for its main operation.  Major
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

repairs or improvements that will prolong

the life of the building are considered
capitalizable cost.  At the end of the
accounting/ reporting period, fair value of
the property must be disclosed.
14131   Accumulated This account refers to the total amount of
Depreciation–     depreciation/ impairment cost on building
that are set up periodically and charged
Building and against the current operations

Improvements
14140   Building on This account refers to the cost of
construction of new building on a
Leased/Usufruct leased/usufruct land and shall be
depreciated over the estimated life of the
building or the lease/usufruct term
Land
whichever is shorter.  
14141   Accumulated This account refers to total amount of
Depreciation–  depreciation on Building on
Leased/Usufruct Land based on cost that
 Building on are set-up periodically and charged against
the current operations.
Leased/Usufruct 

Land
14150    Utility Plant  This account refers to cost of property and
equipment used in the generation of
power/water and other utilities for
operation and/or for distribution to
consumers.
14151   Accumulated This account refers to total amount of
Depreciation –  Utility depreciation cost on Utility Plant  that are
Plant  set up periodically and charged against the
current operations
14160   Property, Plant & This account refers to the cost determined
by the fair or present value of leased
Equipment -Under Property, Plant and Equipment..
Finance  Lease
14161   Accumulated This account refers to total amount of
depreciation on PPE - under Finance
Depreciation –  Lease that are set-up periodically against
Property, Plant & current operations.

Equipment - Under
Finance
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

Lease
14170   Construction in This account refers to the cost of materials,
Progress labor and other construction related costs
incurred on unfinished construction project,
prior to occupancy/actual use.  
14171   Accumulated This account refers to total amount of
Depreciation –  depreciation on Construction in Progress
Property, Plant & that are set-up periodically against current
operations.
Equipment - Under
Finance

Lease
14180   Furniture, Fixtures & This account refers to the cost of movable
(furniture), immovable (fixtures) properties
Equipment (FFE) and  office / production/ store equipment
used in the ordinary course of business
such as but not limited to desks, chairs,
cabinets, computers, vaults, including
incidental expenses incurred in acquiring
them, up to the time they are received and
ready for use.
14181   Accumulated This account refers to the total amount of
Depreciation  FFE depreciation/ impairment cost on Furniture,
Fixture and Office Equipment that are set
up periodically and charged against the
current operations
14190   Machineries, Tools This account refers to the cost of
and machineries, tools and equipment owned
and used in producing goods, providing
Equipment services and repairs.
14191    Accumulated This account refers to the total amount  of
Depreciation –  depreciation on  machineries, tools  and
equipment that are set-up periodically and
 Machineries, charged against the current operations

Tools and

Equipment
14200   Kitchen, Canteen This account refers to the cost of
equipment, cutleries and other tools used
&   Catering in food preparation and serving including
incidental expenses incurred in acquiring
them up to the time they are received and
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

ready for use.

Equipment/

Utensils
14201   Accumulated This account refers to the total amount of
Depreciation –  depreciation on Kitchen, Canteen and
Kitchen, Canteen & Catering Equipment/Utensils that are set-
up periodically against current operations.
Catering

Equipment/Utensils
14210   Transportation This account refers to the cost of
Equipment equipment owned and used in transporting
goods, services or personnel such as
motorcycles, pick-ups, vans and other
vehicles.
14211   Accumulated This account refers to the total amount of
depreciation/ impairment cost on
Depreciation -   Transportation Equipment that are set up
Transportation periodically and charged against current
Equipment operations
14220   Linens and Uniforms This account refers to the cost of linens
and the uniforms used by employees and
staff including costs of tablecloth, curtains,
blankets and similar items.
14221   Accumulated This account refers to the total amount of
Depreciation – Linens depreciation on linens and uniforms that
and Uniforms are set-up periodically against current
operations.
14230   Nursery/ This account refers to the cost of nursery
Greenhouses and greenhouse facilities and equipment
used for seedling production and growing
of vegetables
14231   Accumulated This account refers to total amount of
Depreciation -   depreciation and impairment on nursery
and greenhouse that are set-up
Nursery/ periodically and charged against the
current operations.
Greenhouse
14240   Leasehold Rights & This account refers to the cost of
Improvements improvements on premises under
operating lease including cost of rights and
concession rights which are subject to
amortization over the useful life of the
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CODE ACCOUNT TITLE DEFINITION

property or the term of the lease,

whichever is shorter.
14290  Other Property, This account refers to Property, Plant and
Equipment not falling in any of the above
Plant and categories

Equipment
15000 Biological Assets
15100          Biological Assets This account refers to cost of breeding
– Animals stock/working animals owned by the
cooperative.
15110   Accumulated This account refers to total amount of
Depreciation –   depreciation and impairment on Biological
Biological Assets Assets - Animals that are setup periodically
and charged against the current
– Animals operations.
15200  Biological Assets – This account refers to living plants that
Plants produces seeds, seedlings, flowers or
fruits.
15210   Accumulated This account refers to total amount of
depreciation and impairment on BA - plants
Depreciation that are set-up periodically and charged
against the current operations.
Biological Assets

– Plants
16000 Intangible Assets Identifiable non-monetary asset without
physical substance for which future
economic benefits are expected to flow
back and amortized over the estimated
useful life.
16100   Franchise This account refers to the cost of acquiring
the right and privilege to sell goods and
services using the particular trademark/
brand /logo of the franchisor.  The
cooperative is the franchisee.
16200   Franchise Cost This account refers to the cost of acquiring
privilege or right granted by Franchising
Agencies to a cooperative to exercise an
exclusive service to a particular route or
area.  This is specific for Transport and
Water Service Cooperatives.
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

16300   Copyright This account refers to the right for the

exclusive use or distribution of products or
services acquired from an author or artists.
16400   Patent This account refers to the exclusive rights
granted by the state to a patentee (the
inventor or assignee) for a fixed period in
exchange for the regulated, public
disclosure of certain details of a device,
method, process or composition of matter
which is new, inventive, and useful or
industrially applicable
17000 Other Non- Assets which do not fit into any of the
preceding classifications
Current Assets
17100   Computerization Cost This account refers to the cost of
acquisition or development of computer
programs and other software excluding
upgrading of system.  This is amortized
over a period not exceeding three (3) years
or useful life whichever is shorter. 
17200   Other Funds and This account refers to restricted funds set
Deposits aside for funding of Statutory and other
reserves such as Retirement, Members'
Benefit and Other Funds.  This may be in
the form of time deposit or other securities
which may be convertible to cash when
needed.  
17300   Due from Head This account refers to receivables from
Head Office/ Branches/ Satellites and
Office/Branch/ should be closed at the end of the reporting
Satellites period.
17400   Deposit on This account refers to deposits on
containers subject to refund upon its return.
Returnable Containers
17900   Miscellaneous This account refers to assets not falling in
Assets  any of the above categories. 
20000 LIABILITIES -present obligation of the cooperative arising from
past events, the settlement of which is expected to result in an
outflow from the cooperative of resources embodying economic
benefits..
21000- CURRENT Obligations reasonably expected to be
settled  within the  normal business 
23000 LIABILITIES operating cycle, that: (a) is due within 12
months after balance sheet date; (b) is
held primarily for the purpose of being
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ACCOUNT
CODE ACCOUNT TITLE DEFINITION

traded;  (c) does not have an unconditional

right to defer settlement of the liability for at
least 12 months after balance sheet date.
21100 Deposit Liabilities This account refers to deposits made by
members that can be withdrawn at a given
period.
21110  Saving Deposits This account refers to deposits made by
members that can be withdrawn anytime at
the option of the memberdepositors. 
21120  Time Deposits This account refers to deposits made by
members for a specified period of time and
withdrawable at a predetermined date.
21200 Trade and Other
Payables
21210  Accounts This account refers to
PayableTrade obligations/indebtedness to suppliers for
purchase of goods and services intended
for sale
21220  Accounts PayableNon This account refers obligations/
Trade indebtedness to suppliers for purchase of
goods and services not intended for sale
(e.g. supplies, periodicals and etc.)
21230  Loans Payable - This account refers to the indebtedness to
Current financial institutions, federations, unions, or
individuals payable within the
accounting/fiscal period and the current
portion of the Long Term Loans Payable.
21240  Finance Lease  This account refers to the current portion of
Payable – current PPE acquired under Finance Lease
Agreement.
21250  Due to deployed This account refers to amount set aside for
members payment of salaries & other statutory
obligations to deployed members of labor
service cooperatives.
21260  Cash Bond Payable This account refers to amount received
from members/employees as guarantee for
the use of equipment/ accessories / future
losses, shortages and damages
21290  Other Payables This account refers to Payables not falling
in any of the above categories.
21300 Accrued Expenses This account refers to expenses that have
been incurred but not yet paid as of the
end of accounting period.
21310  Due to Regulatory This account refers to amount collected
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CODE ACCOUNT TITLE DEFINITION

Agencies from members in payment for registration,

licensing, supervision, etc.

with Regulatory Agencies

21320  SSS/ECC/ Philhealth This account refers to amounts withheld
from the compensation income of
/ Pag-ibig Premium employees representing their premium
contributions to SSS, Philhealth and Pag-
ibig agencies and the corresponding share
Contributions
of the cooperative as employer.
Payable
21330  SSS/Pag-Ibig Loans This account refers to amounts withheld
Payable from the compensation income of
employees representing their payment of
loans to SSS and Pag-ibig agencies.  
21340  Withholding Tax This account refers to all taxes withheld as
Payable prescribed by law.
21350  Output Tax This account refers to value added tax on
the sale of taxable merchandise/ goods
and services. 
21360  VAT Payable This account refers to excess of output tax
over input tax.
21370  Income Tax Payable This refers to amount of unpaid tax due
from cooperative arising from taxable
income.
21390  Other Accrued This account refers to other accrued
Expenses expenses that cannot be classified under
any of the preceding accrued expenses
accounts.
21400 Other Current

Liabilities 
21410 Deposit from This account refers to deposits from
Customers customers for containers, food or other
services subject to refund.
21420 Advances from This account refers to advance payment
Customers for delivery of goods or services.
21430 School Program This account refers to an amount allocated
as support mechanism to school program,
Support Fund Payable which remains unpaid. (applicable to public
school - based cooperatives only)
21440 Interest on Share This account refers to liability to members
Capital Payable for interest on share capital, which can be
determined only at the end of fiscal year
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

21450 Patronage Refund This account refers to liability e to

Payable members for patronage refund, which can
be determined only at the end of fiscal
year.
21460 Due to Union This account refers to the accumulated
amount set aside to be credited to the
/Federation (CETF)  Union/Federation where the cooperative is
a member.  This corresponds to the 50%
of the total annual allocation for the
Education and Training Fund.
21490 Other Current This account refers to other liabilities that
cannot be classified under any of the
Liabilities preceding current liability accounts.
22000 NON-CURRENT  Liabilities  payable beyond one year
LIABILITIES
22100  Loans Payable This account refers to the indebtedness of
the cooperative to financial institutions,
federations, unions, or individuals payable
beyond one year.
22200  Discounts on Loans This account represents the interest
Payable deducted from the loan value/principal to
be amortized over the term of the loan
using effective interest method.  This is a
contra account to Loans Payable.
22300  Revolving Capital The account refers to deferred payment of
Payable interest on share capital and patronage
refund, which should be agreed upon in
the General Assembly.
22400  Retirement Payable This account refers to the accumulated
retirement benefit costs charged against
the income of the cooperative over the
expected remaining working lives of
participating qualified employees.
22500  Finance Lease This account refers to the future lease
payments for Property, Plant and
Payable - Long Term Equipment acquired under finance lease,
Net of the Current Portion.
23000 Other Non-Current The totality of all other liabilities that cannot
be classified after any of the preceding
Liabilities liability accounts.
23110   Project Subsidy This account refers to the unused portion of
Fund  the donation/grant for training, salaries and
wages, etc.
23120   Members’ Benefit and This account refers to funds for special
Other Funds Payable purposes such as member's benefits,
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

including Kilusang Bayan Guarantee Fund

(KBGF) / Cooperative Guarantee Fund
(CGF) not part of the distribution of net
surplus.
23130   Due to Head The account is used to record inter-office
transactions in the books of Head Office
Office / Branch/ (HO)/Branch/ Satellite/

Satellite Department within the cooperative and

should be closed at the end of the
accounting period. 
23140   CSF Guarantee Fund This account refers to the 99%
accumulated guarantee fund contributed by
member.
23190   Other Non This account refers to other long term
liabilities not elsewhere classified. 
Current Liabilities 
30000 EQUITY - is the residual interest in the assets of the cooperative
after deducting all its liabilities.
30100 MEMBERS' EQUITY This account refers to ownership Interest of
members in the cooperative.
30110  Subscribed Share This account refers to the share capital
Capital- Common subscribed by regular members payable
over a certain period of time
30120  Subscription This account refers to the total unpaid
subscribed share capital of regular
Receivable - members.

Common
30130  Paid-up Share Capital This account refers to collected subscribed
– Common share capital - common 
30131  Treasury Shares This account refers to common shares
Capital -Common bought back and held in treasury.  This
account should only be used in the event
that there are no members who are willing
to buy the shares of outgoing members.
30210  Subscribed Share This account refers to the preferred share
Capital-Preferred capital subscribed by member (regular and
associate) payable over a certain period of
time.
30220  Subscriptions This account refers to the total unpaid
subscribed preferred share capital of
ReceivablePreferred regular and associate
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

members
30230  Paid-up Share This account refers to collected subscribed
Capital-Preferred preferred share capital
30231  Treasury Shares This account refers to preferred shares
Capital -Preferred  previously issued and reacquired and held
in treasury, but not retired or cancelled, and
maybe re-issued to existing members.   
30300 Deposit for Share This account refers to amount paid by the
members for capital subscription equivalent
Capital to the value of less than one share and
additional subscriptions in excess of
authorized capital pending approval of the
Subscription
amendments to increase Authorized Share
Capital.  This may also include the amount
of share capital paid but not yet covered by
subscription contract.  Subsidiary ledgers
shall be maintained for this account.
30400 Undivided Net Surplus This account refers to the accumulated net
surplus of the cooperative that is allocated
and distributed at the end of each reporting
period in accordance with Article 86 of RA
9520.  This account is used for Interim
Financial Statement Presentation only.
30500 Net Loss This account refers to temporary account
to record losses in operations incurred
during the reporting period.  Net loss for
the year shall be charged against reserve
fund, subject to provisions of Article 86 of
RA 9520
30600 Donations/ Grants A donation and grant is assistance by
another entity in the form of a transfer of
resources to a cooperative in return for
past or future compliance with specified
conditions relating to the operating
activities of the cooperative.
30700 Statutory Funds Mandatory funds established/set up in
accordance with Article 86 of RA9520
30710   Reserve Fund This account refers to the amount set aside
annually for the stability of the cooperative
(equivalent to at least 10% of net surplus)
and to meet net operating losses in its
operation. A corresponding fund should be
set up either in the form of time deposit
with local banks or government securities. 
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

30720   Coop. Education & This account refers to the amount retained
Training Fund by the cooperative which shall not be more
than ten percent (10%) of the net surplus
for the training, development and other
similar cooperative activities geared
towards the growth of the cooperative
movement. Half of the amount allocated for
the fund annually shall be spent by the
cooperative for their own education and
training purposes, while the other half may
be remitted to a union or federation chosen
by the cooperative.
30730   Community This account refers to the fund set aside
from the net surplus which should not be
Development less than 3% for projects and/or activities
that will benefit the community where the
cooperative operates.
Fund
30740   Optional Fund This account refers to fund set aside from
the net surplus not exceeding 7%. It shall
be used for acquisition of land and/or
building, machinery and equipment,
replacement fund for PPE, members’
benefits, and other necessary funds.
30800 Revaluation Surplus  This account refers to the appraisal
increase in the revaluation of land which
are allowed subject to the  guidelines
issued by the Authority. 
STATEMENT OF OPERATIONS

40000 REVENUE is income that arises in the course of the ordinary

activities of a cooperative and is referred to by a variety of names
including sales, service income, commission, interest, dividends,
royalties and rent.
40100  Income from Credit All income derived from Credit Operations
Operations
40110   Interest Income from This account refers to income earned and
Loans collected by the cooperative from the
interest charged on the loans granted to
their members.
40120   Service Fees This account refers to the fees collected by
the cooperative for loan processing/
servicing/collecting.
40130   Filing Fees This account refers to the fees collected by
the cooperative upon filing of loan
applications by memberborrowers.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

40140   Fines, Penalties, This account refers to the fees imposed

Surcharges and collected by the cooperative on the
delayed amortization payments of the
member-borrower.
40200  Income from Service All income derived from service operations
Operations
40210   Service Income This account refers to the amount collected
for various services rendered.
40220   Interest Income from This account refers to interest earned
Lease Agreement arising from lease of assets under Finance
Lease Agreement
40300  Income from All income derived from marketing /
consumers / production operations
Marketing/

Consumers/

Production

Operations
40310   Sales This account refers to invoice price of all
merchandise/ goods sold or services
rendered whether paid or on account.
(segregate sales from members and
nonmembers)
40320   Installment Sales   This account refers to sales to members
and nonmembers of merchandise/goods on
a deferred payment plan or installment plan
40330   Sales Returns & This account refers to deductions from the
Allowances invoice price due to returns resulting from
damage, defects or errors in the kind or
quality of goods delivered/sold to
customers/members.
40340   Sales Discounts This account refers to deductions allowed
to customers for settlement/prompt
payment of their accounts
40400  Other Income Income received by the cooperatives other
than   its main operation.
40410   Income/ Interest from This account refers to the income earned
Investment/ by the cooperatives from deposits in
banks/other institutions and investments
Deposits made in financial institutions/government/
business organizations.  This shall include
interest income derived from the deposit of
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

statutory funds in the bank until utilized.

(refer to the accounting manual)
40420   Membership Fee This account refers to the amount collected
from the cooperative's members-applicants
upon approval of their membership in the
cooperative.
40430   Commission Income This account refers to an amount received
by the cooperative from supplier as
incentives.
40440   Realized Gross This account refers to income earned by
Margin the cooperative from the installment sales
of real estate.
40450   Miscellaneous This account refers to all other income
Income earned by the cooperative for which no
specific account has been set up. This may
include winnings from raffle, contest,
competition resulting from income
generating activity/fund raising.
50000 Cost of Goods Sold The cost/value of commodity sold as
determined using physical or perpetual
inventory system.
51000  Cost of Goods Sold This account refers to account used to
record cost of finished goods sold under
perpetual inventory system.
51110   Purchases This account refers to cost of
merchandise/goods bought whether paid or
on account under periodic inventory
system.
51120   Raw Material This account refers to gross cost of
Purchases materials purchased for the production of
food for sale, for catering and canteen
operations (using periodic inventory
system)
51130   Purchase Returns & This account refers to deductions from
Allowances invoice cost due to damage, defects, or
errors in the kind or quality of goods
bought.
51140   Purchase Discounts This account refers to reductions in the
cost of product bought due to the early
payment.
51160   Freight In This account refers to the cost of
transporting merchandise/ goods from the
place of purchase to storage area. Should
form part of the Cost of Good Available for
Sale.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

51170   Direct Labor This account refers to cost of labor directly

attributed to the production of goods.
51180    This account refers to all cost other than
raw materials and direct labor used in the
Factory/Processi ng production/manufacturing/ process of
Overhead  goods including royalties and production
garments
51200  Inventory Loss This account refers to reduction in
inventory due to spoilage, breakage and
variance between inventory per books and
per count
60000 Cost of Services  All costs incurred that are directly related to
the generation of power, water and other
services  (A separate subsidiary shall be
maintained)
61000  Project Management This account refers to all costs incurred
Cost that are directly related to the projects and
contract entered into by clients like
manpower servicing, construction and
other professional works, including
consulting fee.
61110   Labor and Technical This account refers to amount incurred for
technical and other services ancillary to the
Supervision generation of service income.
61210   Salaries & Wages This account refers to amount incurred for
services rendered by employees directly
involved in providing services including
overtime pay
61230   Employees' Benefits This account refers to benefits given to
employees directly involved in providing
services other than salaries and wages
such as but not limited to 13th month pay,
bonus, allowances, and subsistence
allowances including human resource
development.
61240   SSS, Philhealth, Pag- This account refers to the cooperative's
Ibig share in the employees' contribution to
SSS,  Philhealth and Pag-ibig.
Contribution
61250   Retirement Benefit The cost of providing retirement benefits to
Expenses employees directly involved in providing
services.  The cost of retirement benefits is
recognized as an expense in the periods
during which the services are rendered.
61280   Professional and This account refers to amount incurred for
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

Consultancy Fees professional and consultancy services in

relation to the  generation of service
income
61370   Supplies This account refers to expenses incurred
for various supplies used for service
activities.
61410   Power, Light and This account refers to the cost of electricity
Water and water incurred in the generation of
service income.
61430   Insurance This account refers to expenses incurred to
insure the equipment used in providing
services.
61440   Repairs and This account refers to expenses incurred in
Maintenance the repair and maintenance of machineries
and equipment used in the delivery of
service except major repairs that prolong
the life of the asset.
61450   Rentals This account refers to expenses incurred
for the building/office spaces or facilities
leased by the cooperative for the
generation of service income
61490   Gas, Oil & Lubricants This account refers to This account refers
to amounts incurred for gasoline, fuel and
lubricants for cooperative's machineries
and equipment used in the delivery of
service.
61520   Miscellaneous This account refers to all other expenses
incurred by the cooperative not classified
under any of the specified expenses
account.
61530   Depreciation tear of building, machineries and
equipment used in the delivery of service.
61540   Amortization This account refers to amount provided for
amortization of intangible assets.
62000  Generation Cost Cost incurred in the generation of power,
water and other utilities.
62120   Power Cost This account refers to cost of power
whether purchased or generated for
distribution.
62130   Labor and Technical This account refers to amount incurred for
technical and other services ancillary to the
Supervision generation of service income.
62210   Salaries & Wages This account refers to amount incurred for
services rendered by employees directly
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

involved in providing services including

overtime pay.
62230   Employees' Benefits This account refers to benefits given to
employees directly involved in providing
services other than salaries and wages
such as but not limited to 13th month pay,
bonus, allowances, and subsistence
allowances including human resource
development.
62240   SSS, This account refers to the cooperative's
share in the employees' contribution to
Philhealth/ECC/ SSS, Philhealth and Pag-ibig.

Pag-Ibig

Contribution
62250   Retirement Benefit This account refers to the cost of providing
Expenses retirement benefits to employees directly
involved in providing services.  The cost of
retirement benefits is recognized as an
expense in the periods during which the
services are rendered.
62250   Miscellaneous This account refers to all other expenses
incurred by the cooperative not classified
under any of the specified expenses
account.
62280   Professional and This account refers to amount incurred for
Consultancy Fees professional and consultancy services in
relation to the  generation of service
income.
62370   Supplies This account refers to expenses incurred
for various supplies used for service
activities.
62410   Power, Light and This account refers to cost of electricity
Water and water incurred in the generation of
service income.
62430   Insurance This account refers to expenses incurred
to insure the equipment used in providing
services.
62440   Repairs and This account refers to expenses incurred in
Maintenance the repair and maintenance of machineries
and equipment used in the delivery of
service except major repairs that prolong
the life of the asset.
62450   Rentals This account refers to expenses incurred
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

for the building/office spaces or facilities

leased by the cooperative for the
generation of service income.
62490   Gas, Oil & Lubricants This account refers to amounts incurred for
gasoline, fuel and lubricants for
cooperative's machineries and equipment
used in the delivery of service.
62530   Depreciation This account refers to amount provided for
wear and tear of building, machineries and
equipment used in the delivery of service
62540   Amortization This account refers to amount provided for
amortization of intangible assets.
62590   Impairment Loss This account refers to difference between
the carrying value and the recoverable
value of the assets directly used in the
delivery of services
63000  Distribution Cost Cost incurred in the distribution of power,
water and other services.
63120   Power Cost This account refers to cost of power
whether purchased or generated for
distribution.
63130   Labor and Technical This account refers to amount incurred for
technical and other services ancillary to the
Supervision generation of service income.
63210   Salaries & Wages This account refers to amount incurred for
services rendered by employees directly
involved in providing services including
overtime pay.
63230   Employees' Benefits This account refers to benefits given to
employees directly involved in providing
services other than salaries and wages
such as but not limited to 13th month pay,
bonus, allowances, and subsistence
allowances including human resource
development.
63240   SSS, Phil health, This account refers to the cooperative's
share in the employees' contribution to
ECC, Pag-Ibig SSS, ECC, Philhealth and Pag-ibig.
Contribution
63250   Retirement Benefit This account refers to the cost of providing
Expenses retirement benefits to employees directly
involved in providing services.  The cost of
retirement benefits is recognized as an
expense in the periods during which the
services are rendered.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

63280   Professional and This account refers to amount incurred for

Consultancy Fees professional and consultancy services in
relation to the  generation of service
income.
63370   Supplies This account refers to expenses incurred
for various supplies used for service
activities.
63390   Training/ Seminars This account refers to an amount incurred
for officers and staff directly involved in
providing services for attending trainings
and seminars/conducting seminars
including expenses related thereto after
exhausting the CETF.
63410   Power, Light and This account refers to cost of electricity
Water and water incurred in the generation of
service income.
63420   Travel and This account refers to amount incurred for
Transportation fares, toll fees, board and lodging, per
diem, and meal allowance of officers,
employees directly involved in providing
services while on official travel.
63430   Insurance This account refers to expenses incurred
to insure the equipment used in providing 
services including that of the employees
who are directly involved in generating
service income.
63440   Repairs and This account refers to expenses incurred in
Maintenance the repair and maintenance of machineries
and equipment used in the delivery of
service except major repairs that prolong
the life of the asset.
63450   Rentals This account refers to expenses incurred
for the building/office spaces or facilities
leased by the cooperative for the
generation of service income.
63470   Communication This account refers to amount incurred for
transmission of messages such as courier,
telephone,  e-mail,  fax, internet,
messengerial, and all other means of
communication used in the delivery of
service.
63490   Gas, Oil & Lubricants This account refers to amount incurred for
gasoline, fuel and lubricants for
cooperative's machineries and equipment
used in the delivery of service.
63520   Miscellaneous This account refers to all other expenses
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

incurred by the cooperative not classified

under any of the specified expenses
account.
63530   Depreciation This account refers to amount provided for
wear and tear of building, machineries and
equipment used in the delivery of service.
63540   Amortization This account refers to amount provided for
amortization of intangible assets.
63590   Impairment Loss This account refers to difference between
the carrying value and the recoverable
value of the assets directly used in the
delivery of services.
64000 Transport Service All costs incurred that are directly related
Cost to Service Income and Passenger's Fee.
(A separate subsidiary shall be
maintained).
64140   Driver's This account refers to cost incurred for
payment to drivers (control  mechanism
/Conductor's will be developed to recognized actual
gross receipts) - subject to 10%
withholding tax.
Fees
64150   Vehicle  This account refers to expenses incurred
for licensing, registration, dropping, filing,
Registration and supervision, accreditation fees, penalties
and other fees. (this account is used for
cooperatively owned units only).
Licensing  Expenses
64160   Toll Fees This account refers to amount paid for toll
fees (SA)
64170   Incidental Expenses This account refers to expenses incurred
to cover the cost  of expenditures which
are not anticipated / expected such as
accidents not covered by insurance.
64430   Insurance This account refers to expenses incurred
to insure the equipment used in providing
transport services.
64440   Repairs and This account refers to expenses incurred in
Maintenance the repair and maintenance of transport
facility and equipment except major repairs
that prolong the life of the asset.
64490   Gas, Oil & Lubricants This account refers to amounts incurred for
gasoline, fuel and lubricants for
cooperative's vehicles and for day to day
operation.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

64530   Depreciation This account refers to amount provided for

wear and tear of property and equipment.
70000 EXPENSES -Gross outflows of economic resources and
incurrence of obligations in the course of the ordinary activities of
the cooperative when those outflows result in decreases in
surplus.
71000  Financing Cost Expenses related to borrowings of funds
used for operations.
71100   Interest Expense on This account refers to interest incurred on
Borrowings borrowings.
71200   Interest Expense on This account refers to the interest incurred
Deposits on savings and time deposits of both
regular & associate members
71300   Other Financing This account refers to service charges,
Charges   filing fees and other fees for borrowings
incurred by the cooperative.
72000  Selling/ Marketing Costs incurred in the promotion/distribution
Cost and selling of products and services of the
cooperatives.
72180   Product/  Service This account refers to expenses incurred in
the marketing and promoting the coop.
Marketing and products and services (expenses related to
pricing, promotion, place  packaging).
Promotion Expenses
72190   Product/ Service This account refers to expenses incurred in
Development the development of coop. products and
services (expenses related to research and
development).
72200   Product Research  This account refers to expenses incurred in
the enhancement of existing products.
72210   Salaries & Wages This account refers to amount incurred for
services rendered by employees including
overtime pay.
72220   Incentives and This account refers to amount incurred for
Allowances services rendered by sales, part-time and
on-call employees.
2230   Employees Benefits This account refers to benefits given to
employees other than salaries and wages
such as 13th month pay, bonus,
allowances, termination or separation pay
and others, termination or separation pay
and others.
72240   SSS, Philhealth, This account refers to the cooperative's
share in the employees' premium
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

contribution to SSS, ECC, Philhealth and

ECC, Pag-Ibig Pag-ibig.

Premium

Contribution
72250   Retirement Benefit This account refers to This account refers
Expenses to the cost of providing retirement benefits
to employees for their services rendered. 
The cost of retirement benefits is
recognized as an expense in the periods
during which the services are rendered.
72260   Commission This account refers to amount paid to sales
Expenses  personnel and others as incentives.
72270   Advertising & This account refers to expenses incurred
Promotion for advertising and promotion of
cooperatives' products.
72280   Professional Fees This account refers to fees and related
expenses incurred for professional services
rendered.
72290   Royalties  This account refers to the amount provided
to authors for the right to the reproduction
of books and related items that is made
available for sale.
72310   Store/ Canteen/ This account refers to expenses incurred
Kitchen and for stationery and various supplies used in
store/canteen/kitchen and catering for
Catering Supplies selling/trading operations.

Expenses
72320   Breakage & Losses This account refers to expenses incurred
on Kitchen Utensils for lost or breakage of kitchen/utensils after
deducting accumulated depreciation.
72330   Freight Out/Delivery This account refers to amount incurred for
Expenses  the delivery of goods/services including
traveling expenses of sales personnel from
the place of production/store to buyer
including lubricants.
72340   Spoilage, This account refers to expenses incurred
for unavoidable decay, breakage,
Breakage And Losses expiration or losses of goods beyond the
normal condition.
72350   Storage/ This account refers to expenses incurred
for temporary housing of
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

merchandise/goods.
Warehousing
Expenses
72410   Power, Light and This account refers to cost of electricity,
Water water and/or gasoline/diesel, oil and
lubricants used for generators which are
incurred in business operations.
72420   Travel and This account refers to amount incurred for
Transportation  fares, gasoline and fuel for service vehicles
borrowed or rented by the cooperative, toll
fees, board and lodging, per diem and
meal allowance of employees while on
official travel.
72430   Insurance This account refers to expenses incurred to
insure the assets/properties/employees of
the cooperative and the bonds of
accountable officers and employees.
72440   Repairs and This account refers to expenses incurred in
Maintenance the repair and maintenance of each facility
and equipment except major repairs that
do not prolong the life of the asset but
increase capacity and safety measures.
72450   Rentals This account refers to amount incurred for
the lease or rental of the building/office
space, the utilized portion of the rent paid
in advance.
72460   Taxes, Fees and This account refers to expenses incurred
Charges for taxes, fees and charges due to
government entities, both national and
local.
72470   Communication This account refers to the amount incurred
for courier (letters), telephone, cell phone,
e-mail, fax, internet, messengerial, and all
other means of communication.
72480   Representation This account refers to expenses incurred
related to accommodating visitors and
guests on official business.
72490   Gas, Oil & Lubricants This account refers to amount incurred for
gasoline, fuel and lubricants for service
vehicles, delivery vans and others.
72520   Miscellaneous This account refers to all other expenses
Expenses incurred by the cooperative not classified
under any of the specified expenses
account.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

72530   Depreciation This account refers to amount provided for

wear and tear of property and equipment
and amortization of intangible assets.
72540   Amortization This account refers to amount provided for
amortization of intangible assets.
72550   Amortization of This account refers to amount provided for
Leasehold Rights amortization of leasehold rights and
improvements.
& Improvement
72660   Periodicals, This account refers to amount incurred for
Magazines & subscription or purchase of periodicals,
Subscription magazines and others.
73000  Administrative Cost Expenses incurred related to general
administration and management of the
cooperative/enterprise
73210   Salaries & Wages This account refers to amount incurred for
services rendered by employees including
overtime pay.
73230   Employees Benefits This account refers to benefits given to
employees other than salaries and wages
such as but not limited to 13th month pay,
bonus, allowances, and subsistence
allowances including human resource
development.
73240   SSS,Philhealth, This account refers to the cooperative's
share in the employees' premium
ECC, Pag-ibig contributions to SSS, ECC, Philhealth and
Pag-ibig.
Premium

Contributions
73250   Retirement Benefit This account refers to the cost of providing
Expenses retirement benefits to employees for their
services rendered.  The cost of retirement
benefits is recognized as an expense in the
periods during which the services are
rendered.
73270   Officers' This account refers to amount incurred for
services rendered by directors, committee
Honorarium and members and officers.
Allowances
73300   Litigation Expenses This account refers to expenses incurred in
judicial and quasi-judicial cases including
incidental costs where the coop is the
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

complainant or respondent as authorized

by the BODs.
73360   School Program This account refers to an amount allocated
Support by the cooperatives as support mechanism
to school program such as school food
supplementation of identified
undernourished cases and administration
contingency fund,  outreach program and
school development, etc. (applicable to
school-based cooperatives for canteen
activity only)
73370   Office Supplies This account refers to expenses incurred
for office and various supplies used in the
administration and conduct of business
operation.
73380   Meetings and This account refers to amount incurred for
Conferences the conduct of/ attendance to meetings and
conferences.
73390   Trainings/ Seminars This account refers to amount incurred for
officers, directors, employees and
members, for attending trainings and
seminars including all expenses related
thereto after exhausting the CETF (local). 
For purposes of analysis, amount incurred
may be classified as to the recipient.
73400   Certifications and This refers to expenses incurred for
Recognitions  certifications and recognitions acquired
from non government agencies.
73410   Power, Light  & This account refers to cost of electricity and
Water water incurred in business operations.
73420   Travel & This account refers to amount incurred for
Transportation fares, toll fees, board and lodging, per diem
and meal allowance of officers and
employees and members while on official
travel.
73430   Insurance This account refers to expenses incurred to
insure the assets/properties of the
cooperative, premium of insurance for
officers and employees and bonds of
accountable officers and employees.
73440   Repairs & This account refers to expenses incurred in
Maintenance the repair and maintenance of each facility
and equipment except major repairs that
prolong the life of the asset.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

73450   Rentals This account refers to expenses incurred

for building/office spaces or facilities leased
by the cooperative.
73460   Taxes,  Fees and This account refers to expenses incurred
Charges  for taxes, fees and charges due to
government entities, both national and
local.
73470   Communication This account refers to amount incurred for
courier

(letters), telephone, cell phone, e-mail, fax,

internet, messengerial, and all other means
of communication.
73480   Representation This account refers to expenses incurred
related to accommodating visitors and
guests on official business.
73490   Gas, Oil & Lubricants This account refers to amount incurred for
gasoline, fuel and lubricants for
cooperative's vehicles and for day to day
operation
73500   Collection Expense This account refers to amount, including
commissions, incurred as incentives in
effecting the collection of loans of the
cooperative.
73510   General Support This account refers to expenses incurred
Services for employing the services of security,
janitors, messengers and other support
services.
73520   Miscellaneous This account refers to all other expenses
Expense incurred by the cooperative not classified
under any of the specified expenses
account.
73530   Depreciation This account refers to allocation of cost
over the estimated life of Property, Plant
and Equipment.
73540   Amortization  This account refers to amount provided for
amortization of intangible assets.
73550   Amortization of This account refers to amount provided for
amortization of leasehold rights and
Leasehold Rights and improvements.
Improvement
73560   Probable Losses on This account refers to allocation or
provision for estimated losses arising from
Loan /Accounts/ probable uncollectible loans/accounts/
installment receivables.
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

Installment

Receivables
73590   Impairment Losses This account refers to the difference
between the carrying value and the
recoverable value of an asset.
73600   Bank Charges This account refers to bank fees and other
charges excluding cost of checkbooks.
73610   General Assembly This account refers to expenses incurred in
Expenses the conduct of regular/special general
assembly.
73620   Members Benefit This account refers to expenses incurred in
Expenses providing for additional members' benefits
and social services
73630   Affiliation Fee This account refers to amount incurred to
cover membership or registration fees and
annual dues to a federation or union.
73640   Social & This account refers to expenses incurred
by the cooperatives in its social community
Community Service involvement including solicitations and
donations to charitable institutions.
Expense
73650   Provision for  CGF This account refers to amount set up at the
(KBGF) option of the cooperative for the provision
of CGF (KBGF).This is not part of the
Statutory Fund. 
80000  Other Items – Special transactions arising from the
Subsidy/ Gain operations of the cooperatives.

(Losses) 
80100   Project Subsidy This account refers to an amount deducted
from Project Subsidy fund to subsidize
project expenses.  This shall appear in the
statement of operation as a contra account
to subsidized project expenses 
80200   Donation and Grant This account refers to an amount deducted
Subsidy from Donation and Grant to subsidize
depreciation charges on property and
equipment funded by donation and grant.
80300   Optional Fund This account refers to an amount deducted
Subsidy from Optional Fund to subsidize
depreciation charge of property and
equipment funded by Optional Fund 
REVISED STANDARD CHART OF ACCOUNTS FOR
COOPERATIVES

ACCOUNT
CODE ACCOUNT TITLE DEFINITION

80400   Educational Fund This account refers to amount deducted

Subsidy from Education and Training Fund to
subsidize depreciation charge on property
and equipment funded by Education and
Training Fund.
80500   Subsidized Project This account refers to portion of the Project
Expenses Subsidy Fund expended for training,
salaries and wages and other activities
subsidized by donations and grants and
optional fund.
81100   Gains or Losses on This account refers to gains or losses
Sale of Property & derived from the sale of acquired
assets/properties and equipment
Equipment
81200   Gains or Losses in This account refers to the cumulative gains
Financial Assets (losses) arising from change in the fair
through Profit and value and from the disposal of financial
Loss assets through profit and loss
81300   Gains or Losses in This account refers to income earned or
Financial Assets at losses incurred from the disposal of
cost financial assets at cost.
81400   Gains or Losses on This account refers to income earned or
RPA losses incurred from the disposal of RPA
81500   Gains or Losses on This account refers to income earned or
assets acquired in losses incurred from the disposal of Assets
settlement of loans acquired in settlement of loans.

81600   Gains or Losses on This account refers to income earned or

Sale of losses incurred from the sale of
repossessed items.
Repossessed Item
81700   Gains or Losses from This account refers to gains or Losses
Foreign Exchange arising from retirement or conversion of
Valuation foreign currency exchange

rate fluctuation per actual transaction

82000   Prior Years' This account refers to adjustments on
Adjustment transactions affecting income and
expenses incurred in the previous year(s)
which are taken up on the current year.