Agricultural services co-operative societies' development in Latvia
2007
Kalnina, G.
The present paper describes the dynamics of the foundation and performance of agricultural services co-operative societies and their legal basis in last five years. The author analyzes the state subsidy support programme and its influence on the foundation and activities of agricultural cooperative societies. The relevance of information produced by financial management and accounting for creating a realistic and clear view of financial result and performance of co-operative societies has been evaluated. The foundation and development of co-operative societies in recent years was caused by strengthening of farms and other producers connected with agriculture. This created the pre-requisites for the cooperation of producers with the purpose of gaining profitable sales, production facilities with discounts in prices or more convenient terms for taking loans. The state subsidies support was important as a financial source for covering overhead costs and purchase of equipment. The conclusion can be drawn that financial management and accounting satisfies the requirements that are necessary for the creation of realistic and clear view of financial results and performance of co-operative societies.
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