07tfc-5028 Training staff of Tanzanian co-operatives in complying with international financial reporting standards
| budget |
€ 100.342,31 |
status |
execution |
| start date |
01-07-2008 |
date end |
31-12-2010 |
| location |
|
country |
tanzania |
| financer |
Agriterra |
| executor |
Tanzania Federation of Cooperatives Ltd |
intervention level |
sub-national |
| Programmes |
| work area 02: Financial management | | IFAP 03: Enhance capacity of farmers' organisations | |
| description |
 Tanzania Federation of Co-operatives (TFC) is the national umbrella organisation of co-operatives societies in Tanzania, of which over 90% of the members are farmers’ organisations. Currently, Cooperative movement comprises of about 6000 Cooperative Societies having about 700,000 members.
Through this project TFC aims to enhance the financial management of (...more...) |
| description |
Tanzania Federation of Co-operatives (TFC) is the national umbrella organisation of co-operatives societies in Tanzania, of which over 90% of the members are farmers’ organisations. Currently, Cooperative movement comprises of about 6000 Cooperative Societies having about 700,000 members.
Through this project TFC aims to enhance the financial management of its registered farmer’s organisation with a view to enable them to comply with International Financial Reporting Standards. By developing a training module and distributing it (500 copies) 50 farmers organisations will be enabled to apply IFRS (44 Unions, 4 primary societies and two apex bodies). It is expected that 100 staff members will be reached. (...less...) |
| results & observations |
The objective of this project is to enable Cooperative Societies (farmers’ organizations) in Tanzania to full operationalization of International Financial Reporting Standards. The project is expected to improve financial reporting standards through enabling their leaders to produce accurately and timely financial reports.
TFC started the project in September, and engaged a (...more...) |
| final results & observations |
The objective of this project is to enable Cooperative Societies (farmers’ organizations) in Tanzania to full operationalization of International Financial Reporting Standards. The project is expected to improve financial reporting standards through enabling their leaders to produce accurately and timely financial reports.
TFC started the project in September, and engaged a consultancy firm which developed a Training Manual. After completion of the Training Manuel, TFC in collaboration with the consulting Firm conducted the stakeholders’ workshop where the Training manual was discussed. Representatives (50) from the stakeholder’s organizations attended the workshop including the Registrar of cooperatives, Cooperative auditing firm Cooperative College, TFC Officials, Regional and District cooperative Officers, and Accountants Professionals from the cooperative societies.
So far it is not yet possible to indicate wether the project is a success, as it was started of recent and it will be continued in 2009 with Trainings for the Cooperative Societies. Only afterwards an evaluation of the project will be possible.
(...less...) |
| specialisms |
| Financial management | |
PROPOSAL
| Agri-agency | Own contribution executor | Other parties | Total requested budget |
|---|
| Agriterra | TFC | | |
| € 0,00 + € 0,00 | € 0,00 | € 0,00 | € 56.250,00 |
The project originates from TFC, the Umbrella Co-operative Federation of Tanzania. Recently new legislation stipulates that financial management of co-operatives complies with International Financial Reporting Standards. The project submitted to Agriterra is aimed at enabling the affiliated organisations to comply with these requirements.
1. Objective: to enable Co-operative societies to full operationalisation of international reporting standards.
2. Expected output: standardized training modules developed (1 set)
3. Manuals for utilization by FO's produced (500 copies)
4. Personnel of FO's trained (100 staff members)
5. M & E report produced and disseminated (indicators relate to output of trainings and to the quality of annual financial reports from co-operatives.
The first applications received from TFC asked for a very substantial Agricord/FFP contribution. The recent application is based on a total budget of 104.020.620 Tanzanian shillings, of which Tsh 85.701.000 is requested from Agriterra (€ 45.000). |
GOALS
| The objective of the project is to enable Cooperative Societies (farmers’ organizations) in Tanzania to full operationalization of International Financial Reporting Standards (IFRS). |
