a 



THE I. A. A. RECORD 



Page Eleven 



Regular Audit is Li ke 



^^ „ „ /^THE AUDIT SHOWS^ 



r 



Vtihout flands 



U7 IT DO£SNT T^ILW? 

 OUioUGflT TO I^HOW 



FENT 





kJUDITORS AT YOUR SERVICE 



JNDAMMAL TO OUR 



syzEss 



m the hegU ^ of our audit serv- 



started ui lij^. Each year has 



increase"? i|/»ovement of our 



of business nd net profits. Last 



'e made o\ ' j/on per cent im- 



lent over th preceding one. 



feel sur* att; the I. A. C. A. 

 iystem and ts advisory service 

 »en most f jr^imental to our suc- 

 Of course < have tried to leave 

 les untuye i^^ building up our 

 IS. We .ji\ mkde it a point to 

 i service at very angle possible 

 ow the .es ts received to stim- 

 is on towai , constant progress. 

 feel thai* <B)ossibilities of the 

 to be exte ed by the Co-operi- 

 Lssociation- «till in its infancy 

 elopment. 



•e are sop qf the things the 

 lid for u^: i; Gave us a re- 

 method ^ f( bookkeeping. 2. 

 ited moro te^st in our eleva- 

 nager and okkeeping clerk for 

 furthei* improvements. 3. 

 shed more ith in the directors, 

 ilders, andA^banks from whom 

 re borrowiij capital. 4. Gave 

 lefinite as 

 nual meeti: 

 Ht. Sterlini 

 is'n. 



laeurate report for 



"■r—W. D. Mobley, 



?'^rmers' Co-opera- 



2. Accounting systems designed 

 and installed. 



Income tax service. 



a. Preparation of income tax 



returns. 



b. Applications for exemption. 



c. Claims for refund. 



4. Credits and collections. 



a. Advice on credit policies. 



b. Collection of past due ac' 



counts. 



5. Financial reorganization. "?■, 



a. Plans for refinancing. 



b. Aid in securing loans. 



6. Inventories and appraisals. 



a. Perpetual inventory sys- 



tems. 



b. Accurate valuation of stock 



on hand. 



c. Cost and replacement values 



of plant assets. 



7. Budgets, operating analyses and 



general business advice. 



A NON-PROFIT CO-OP. 



T^E I. A. C. A. is incorporated 

 under the laws of the State of 

 Illinois as a "non-profit co-opera- 

 tive agricultural association with- 

 out capital stock, the members of 

 which shall be composed of co- 

 operative associations, farmers' ele' 



^-^//^ 



vators. Farm Bureaus, and other agricultural as- 

 sociations." 



Its purposes as stated in the by-laws are "to pro- 

 mote the general welfare of its members, to furnish 

 an auditing and accounting service, together with a 

 general business advisory service and to co-operate 

 with other organizations for the furtherance of mutual 

 interest." 



Service is rendered under a membership and service 

 contract and charges are made upon a cost basis. 

 No investment is required, but a small capital reserve 

 is assessed on the basis of service charge. 



HAS 233 MEMBERS ' 



THE Illinois Agricultural Co-operatives Associa- 

 tion inaugurated its service June i, 1924. It 

 completed over 1,200 assignments during the past 

 five and one-half years. Last year 265 audits were 

 made for the 233 member organizations involving the 

 verification of more than $15,000,000 of assets, and 

 covering a volume of gross business in excess of 

 $100,000,000. 



Let the I. A. C. A. help safeguard your invest- 

 ments in the local farmers' elevator, co-operative 

 association, and supply company. See that your 

 Farm Bureau avails itself of this valuable service? 

 The Illinois Agricultural Association pays one-third 

 the cost of all Farm Bureau audits... 



For further information write 



i 



ILLINOIS AGRICULTURAL CO-OPERATIVES 



ASSOCIATION 

 608 So. Dearborn St. Chicago 



WILL COUNTY FARM SUPPLY BOARD MEETS 

 Manager Fred E. Ringham reads and explain! yearly audit to board 

 director* at Joliet meeting. 



of I 



I 



