Net-surplus as a useful tool to analyse financial information in co-op societies

This paper aims to analyse a sample of Galician co-ops to verify whether or not it is possible to deduce different financial behaviours among co-op partners from the amount of net-surplus. To this end, our study adds net-surplus to the variation registered in some account entries so that other residual incomes yielded by the co-op may be considered. The distribution of these revenues shows that partners do not usually choose to fully anticipate residual incomes. This reveals that some firms follow a positive net-surplus strategy, which is actually different from the null net-surplus strategy asserted by the classical financial theory. Furthermore, results show that differences between both strategies are statistically significant. This opens a path to future research on determinants explaining why co-op partners voluntarily renounce to anticipating these residual incomes. Such behaviour only arises when yearly accounts render a positive result, thereby making the accounting net-surplus a useful tool to analyse financial information in co-op societies.

Let's put in order the accounting records and annual accounts of the agrarian processing companies

The substantive legislation on which Agricultural Processing Companies is based has some notable gaps with regard to the pertinent accounting system. There are grey areas concerning compulsory accounting records and their legalization, together with the process for drawing up, checking, approving and depositing the annual accounts.Consequently, in this paper, we will look first at the corporate and accounting records for Agricultural Processing Companies, putting forward proposals in the wake of recent legislation on the legalization of generally applied corporate and accounting documents.A critical analysis will also be made of the entire process of drafting, auditing, approving and depositing the annual accounts and other documents that Agricultural Processing Companies must send each year to their respective regional registries. Legal and mercantile registries will be differentiated from administrative ones and, in this last sense, changes will be suggested with regard to the place and objective of the deposit of such documents.After thirty-four years old, the substantive legislation in economic and accounting matters of the SAT is out of step with the current law, so a review is necessary. Recent regional regulations have not been a real breakthrough in this regard. We assert the existence of a gap between the substantive rules of the SAT and general accounting rules on financial statements, which is unsustainable and it needs a quick legislative action to be canceled.

Las ONG microfinancieras peruanas: ¿siguen manteniendo su misión social?

In recent years, the growth of the microfinance sector has been significant. Either as a cause or as a consequence, some governments have decided to make it part of the financial system adapting regulatory frameworks to allow the sector to continue to expand as the number of formal institutions increases. It is the case in Peru where many NGOs have decided not to become regulated, arguing that this change could leave them to move away from the social aims for which they were created. In an increasingly competitive marketplace, where the legal framework encourages the regulation of microfinance institutions, there appears to be a need to study the potential future role of NGOs in the sector. In consideration of this question, this paper attempts to analyse the social role of those NGOs that have decided not to become regulated institutions. In this study a number of social indicators are analysed; these include the number of female clients, average loan amount and how loans are used, among others. These indicators will be used to attempt to evaluate the social role of unregulated NGOs and their prospects in this new context.

The corporate regimen of labour companies in the New Act 44/2015, on 14th October, of labour and investee companies

Act 44/2015, on 14th October, of labour and investee companies, aims to accommodate the different instruments, limits and requirements with which the legal regime of the labour companies is set, to the current economic and legal context where they must develop their economic activity. The purpose of the law is to preserve their special status, while it seeks to modernize its legal structure to ensure the economic solvency of the business plan, without weakening the social profile that is required. The new law includes two organisational figures, ‘labour companies’ and the calling ‘investee companies’, of the last one, only leaving evidence of what is to be understood by them referring its regulation to a subsequent regulatory development. Until the publication of the regulation, our work has focused on the corporate aspect of the labour companies by analysing the modifications made on the typological elements and legal regime of these organisational figures to determine whether the law is the necessary and sufficient instrument to achieve the challenge proposed.

Special employment centers in Castile and León 2007-2013: effects of the crisis in relation to these centers’ registered legal personalities

The aim of this paper is to carry out an economic and financial study of the Special Employment Centres in Castile and León based on a classification of these entities’ registered legal personalities in order to view how the economic crisis that began at the end of 2007 may have affected them. Various items from the Centres’ financial statements are analysed and the results are compared to those from the period 2007-2013 as to provide a broader perspective of their size, development, growth and behaviour. The following economic figures were used: total assets, turnover and revenue. The variable “employment” is compared with the subsidies received by the Centres, showing that the crisis does affect the Centres depending on their registered legal personalities. Associations and physical persons are the most affected personalities, to the point of possible extinction. An account reversal for the Centres is also included in this article, which measures the percentage of public aid received by the Centres that is returned to society.

Model for integrates community tourism in Ecuador, case study Pastaza

The tourism industry globally has grown steadily in recent decades, showing a progressive interest oriented toward rural areas due to characteristics of tranquility, nature, biodiversity, traditions and culture. Therefore, such aspects should be preserved and can be leveraged through adequate strategic orientation. Within the framework of global tourism trends community tourism is among the options that arise in the tourism market, and is one that is more likely to grow in the future. In the case of Ecuador, community tourism has become more dynamic over the years since many of the natural reserves in the country are in the hands of indigenous communities. Sustainable tourism in this sense is concerned with the maintenance of ethnic, cultural and biological diversity of the country, and current projects and regulatory laws support its development. Therefore, the aim of this paper is to present a strategy for the integrated management of community tourism following the principles of cooperation and collaboration between stakeholders, this study focuses on the Amazon region of Ecuador, specifically the province of Pastaza, in respect to how community tourism contributes to local development

Financial sustainability of cooperatives: a case of portuguese olive oil cooperatives

En Portugal, como en otros países, las cooperativas agrícolas tienen un papel económico importante en el sistema alimentario. Similar a otras organizaciones económicas, las cooperativas agrícolas han sido testigos de cambios estructurales en las últimas décadas en términos de modelos de gobernación y gestión. Las cooperativas agrícolas portuguesas se han visto constreñidas por su contexto a adoptar un modelo tradicional de propiedad y control. El objetivo principal de este estudio era analizar cuestiones relacionadas con la estructura de gestión y desempeño financiero de las cooperativas, basada en los datos recogidos de cooperativas de aceite de oliva situadas en la región interior norte de Portugal. La combinación de un análisis cualitativo de la estructura y toma de decisiones, una evaluación financiera y la aplicación de un enfoque en varios criterios (PROMETHEE II), los resultados están en línea con expectativas (por ejemplo, bajos niveles de participación de los miembros, gestión no profesional, ratios de rentabilidad bajos, bajo apalancamiento y una capacidad para cumplir compromisos financieros), excepto la relación entre la gestión profesional y el desempeño financiero. La existencia de gestión profesional no conduce a mejores resultados financieros. Este resultado refuerza la creencia de que las cooperativas que están estructuradas de diferente manera tienen intereses diferentes y contradictorios a las partes interesadas.

Rightful Resistance in the Colombian conflict. A theoretical reflection based on a Peace Community

This article considers the opportunities of civilians to peacefully resist violent conflicts or civil wars. The argument developed here is based on a field-based research on the peace community San José de Apartadó in Colombia. The analytical and theoretical framework, which delimits the use of the term ‘resistance’ in this article, builds on the conceptual considerations of Hollander and Einwohner (2004) and on the theoretical concept of ‘rightful resistance’ developed by O’Brien (1996). Beginning with a conflict-analytical classification of the case study, we will describe the long-term socio-historical processes and the organizational experiences of the civilian population, which favoured the emergence of this resistance initiative. The analytical approach to the dimensions and aims of the resistance of this peace community leads to the differentiation of O`Brian’s concept of ‘rightful resistance’.

Reciprocidades y gubernamentalidad tras la inserción del dispositivo religioso en cárceles de mediana y máxima seguridad de la provincia de Santa Fe (Argentina)

En el presente trabajo indagaremos sobre la reconfiguración de las dinámicas institucionales en dos cárceles de la provincia de Santa Fe, Argentina, tras la inserción del dispositivo religiosoevangélico- pentecostal. Los casos serán las penitenciarías n° 3 —mediana seguridad— y n° 11 — máxima seguridad—, y nos interrogaremos sobre las relaciones de reciprocidad que el dispositivo religioso configura en el encierro, en cómo dichas relaciones definen nuevas estrategias de gobierno por parte del servicio penitenciario y de qué manera se rediseñan las relaciones de poder en el dispositivo carcelario. Abordaje comparativo que responde a la hipótesis de que el dispositivo religioso-evangélicopentecostal construye matrices comunes de ordenamiento social, funcionamiento y reciprocidades en el encierro pero, al mismo tiempo, consolida su funcionamiento a raíz de una identificación precisa de las necesidades y oportunidades de los sujetos según atraviesen situaciones de ingreso o egreso carcelario.