(1) Instead of the subscribed capital, the amount of the members’ cooperative shares is to be shown. In the process, the amount of the cooperative shares is to be stated separately for those members who have exited the cooperative as per the end of the financial year. Where due contributions to members’ shares that are in arrears are shown on the balance sheet as cooperative shares, the corresponding amount is to be reported under assets in the item “Due contributions to members’ shares in arrears.” Where due contributions that are in arrears are not shown as cooperative shares, an entry is to be made for the amount in the item “Cooperative shares.” In both cases, the amount is to be recognised at the nominal value. Any minimum capital determined by the statutes is to be stated separately.
(2) Instead of retained earnings, revenue reserves are to be shown, broken down as follows:
1. legal reserve;
2. other revenue reserves; an entry must be made for the revenue reserve pursuant to section 73 (3) of the Act on Cooperatives and the amounts that are to be disbursed from this revenue reserve to members who have exited the cooperative.
(3) In reporting the revenue reserves, the following is to be separately stated on the balance sheet or in the notes:
1. the amounts of the balance sheet profit of the preceding financial year that the general assembly has transferred to the revenue reserves;
2. the amounts of net income for the financial year that are transferred to the revenue reserves;
3. the amounts that are withdrawn for the financial year.
(4) Micro cooperatives availing themselves of the eased requirement for micro share capital companies pursuant to section 266 (1) sentence 4 are to show the amount of the cooperative shares of the members as well as the legal reserve on the balance sheet in the liability item A Equity capital as follows:
Of this:
Cooperative shares of the members
Legal reserve.