Community Shares Finance Guide
Introduction to the Finance Guide
This guide is for directors, trustees and staff of a co-operative, community benefit or charitable community benefit society. It aims to be an accessible resource to cover all eventualities relating to managing community share capital, i.e. withdrawable, non-transferable share capital in societies.
Financial rules, regulations and best practice for co-operative and community benefit societies are not the same as those for companies. Even financial advisors, accountants and/or auditors may have little or no experience in dealing with societies.
This guide sits alongside several publications which are aimed at practitioners and finance professionals focussed on the formal accounting practice and more technical guidance for societies.
This guide was overseen by the Co-operative and Community Capital Committee at Co-operatives UK, authored by Isla McCulloch at Co-operatives UK with technical input from Andy Woodcock at Acorn Co-op Support, Jim Brown and representatives from the Co-operative Accounting Standards Committee.
Some key resources which will be referenced throughout this document which go into further detail for practitioners and accountants:
- The Community Shares Handbook
- Finance Toolkit
- Society Annual Returns
- Society Audit Requirements
- Charity SORP Information Sheet
- Financial Literacy for Co-operatives (Published by Seeds for Change and Acorn Co-op Support)
- FRS102
If you have any questions on this guide, please contact Isla McCulloch at [email protected].