a 



i"- 



THE I. A. A. RECORD 



Page Eleven 



Regular Audit is Like 



^^ __ „ /the AUDIT 5HOWS^ 



Vtlhout tiands 



UtIiT DOESN'T T€LL 

 OUCMT TO KNOW 



OU' 



f 



PENT kUDITORS AT YOUR SERVICE 



INGHAM, .,Jg 

 Chicago ft 



m^\. 



JNDAM&^>,L TO OUR 



sy(:Ess 



T'-f ng: of our audit serv- 

 iiI\iiiU. Each year has 

 ipiovement of our 

 nd net profits. Last 

 ^ ]«>0 per cent im- 

 preceding one. 

 at the I. A. C. A. 

 ts advisory service 

 Omental to our suc- 

 have tried to leave 

 i''^ building up our 

 nrnde it a point to 

 very angle possible 

 ^s f oceived to stim- 

 constant progress. 

 3 feel tha>jo^ossibilities of the 

 to be extcjed b> the Co-operi- 

 ^t\\\ in its infancy 



m the beg! 



stai'ted 



increased; 



of business 

 e made o% 

 ent over th 



feel sure*- 

 system an! 

 ;en most fy 

 3f course 

 les untui;^e 

 s. We a\ 

 ' sefi'vice at 

 ow'the .es 

 s on towat 



ssociation 

 slopment. 

 ■e ire sqt 



lid 'for u- 



o/ the things the 

 1. Gave us a re- 

 method l<il bookkeeping. 2. 

 ited mor^ *ei*t.st in our eleva- 

 nager and Uokkeeping clerk for 

 furthei*li3,provements. 3. 

 shed more lith in the directors, 

 Iders, and*! -^ banks from whom 

 re bonowin capital. 4. Gave 

 efinite ai} Ifc^-.urate report for 

 nual meetiifc.^' — w. D. Moblev, 

 At. SterlinjFarmers' Co-opera- 



L. N. THOMPSON 

 Chicago 



1. Accounting systems designed 

 and installed. 



3. 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 piolicies. 



b. Collection of past due ac- 



counts. 



5. Financial reorganisation. 



a. Plans for refinancing. 



b. Aid in securing loans. 



6. Inventories and appraisals. 



a. Perpetual inventory sys' 



terns. 



b. Accurate valuation of stock 



on hand. 



c. Cost and replacement value? 



of plant assets. 



7. Budgets, operating analyses and 



general business advice. 



A NON-PROFIT CO-OP. 



' I He 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" ek' 



Bureaus, 



vators, 

 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 o( mutud 

 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 cipital reserve 

 IS assessed on the basis of service charge. 



HAS 233 MEMBERS 



THE Illinois Agricultural Co-operatives Associa- 

 tion inaugurated its service June i, 1024. It 

 completed over 1,200 assignments during the past 

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

 made for the 233 member organiziitions involving the 

 verification of more than $15,000,000 of .issets, and 

 covering a volume ot 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 itselt of this valuable service? 

 The Illinois Agricultural Association pays one-third 

 the cost ot all Farm Burc.iu audits. 



ILLINOIS AGRICULTURAL CO-OPERATIVES 



ASSOCIATION 

 608 So. Dearborn St. Chicago 



WILL COUNTY FARM SUPPLY BOARD MEETS 



Manager Fred E. Ringham reads and explains yearly audit to board of 



directors at Joliet meeting. 





