Utilization of The Financial Statement Information for The Administration of The Agricultural Cooperative Administration Department

Abstract

This research article has the objectives (1) to study the utilization of financial statements in the administration of agricultural cooperatives management, and (2) to study the limitations arising from the use of financial statements by agricultural cooperatives management. This research is quantitative. The sample consists of 349 agricultural cooperative managements. Questionnaires were used as the data collection tool. The statistics used for data analysis include frequency, percentage, mean, standard deviation. The study findings indicate that first, most agricultural cooperative management utilizes financial data for management, including planning, directing, decision-making, and controlling. Overall, the utilization of financial data is at a high level, especially in the controlling aspect. They normally use financial data for procurement and credit management in the merchandising business. Furthermore, the management also used the financial data in the decision-making and directing process for financial business. Second, most agricultural cooperative management has problems or limitations in utilizing financial data, particularly related to the quality of information. These include completeness, neutrality, free from error, comparability, verifiability, timeliness, and understandability. Overall, the level of problems or limitations is relatively low.