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Accounting Principles For Cooperative Cotton Gin Associations, Otis T. Weaver, United States. Farm Credit Administration. Cooperative Division

Federal Publications

Adequate records are even more necessary for a cooperative association than for business organizations of some other types. Each member 2 has a right to know the true financial condition of his association at least once a year, perhaps oftener; the manager and the members of the board of directors should know the financial condition at all times. For these reasons the cooperative cotton-gin associations need to plan carefully for the keeping of records that will supply this information and to see that they employ bookkeepers having the best of training and ability in accounting.