The Finance and Economic Information Division is a structural subdivision of the central apparatus of Moldcoop and was established in accordance with the decision of the Moldcoop Executive Bureau.

     In its activity, the Division is guided by the Law on Consumer Cooperation, the Accounting Law, National Accounting Standards, the Law on Statistics, the Fiscal Code, other decisions of the Government of the Republic of Moldova, the resolutions of the Consumer Cooperation Congresses, decisions of the Board of Directors, the provisions of the Statute of the Central Union of Consumer Cooperatives of the Republic of Moldova, as well as instructions, regulations, methodological guidelines, and recommendations issued by relevant ministries and departments.

Mission and Responsibilities

     The primary task of the Division is to provide general methodological leadership in the field of accounting and economic-financial matters within the consumer cooperation system, and to promote the implementation of advanced accounting practices aimed at fostering independence, initiative, creativity, and high performance.

Among the specific responsibilities of the Division are:

• Increasing the role of economic-financial services to ensure the rational and efficient use of material, financial, and human resources;
• Strengthening economic discipline, promoting self-management, and implementing new forms of work organization;
• Organizing and expanding the informational and regulatory base necessary for economic analysis and the development of informational bulletins;
• Coordinating and organizing methodological support for cooperative enterprises to improve their financial activity and provide guidance in accounting and financial matters.

Main Functions

• Providing methodological guidance, training, and consulting to organizations and enterprises in the consumer cooperation system on matters of economic analysis, financing and crediting, accounting organization, and coordinating the financial resources from Moldcoop’s special funds;
• Developing recommendations to improve financial work practices, reduce expenses, enhance economic efficiency, and increase profitability and financial stability;
• Reviewing and centralizing economic development forecasts and projects from cooperative organizations, and preparing comprehensive proposals for the Moldcoop Executive Bureau;
• Monitoring compliance by accounting and economic-financial services with current legislation, national accounting standards, the Fiscal Code, and proposing disciplinary action for violations;
• Centralizing and analyzing statistical data, providing practical support, and making proposals to improve operational efficiency;
• Ensuring compliance with accounting reforms and improving financial and statistical reporting;
• Organizing and overseeing conferences and seminars for chief accountants, economists, and financial specialists on accounting, statistics, reporting, and fiscal policies;
• Managing, collecting, and consolidating periodic and annual financial and statistical reports of cooperative organizations and enterprises, and preparing global accounting statements and balance sheets for submission to the relevant leadership bodies;
• Participating in thematic audits and documentary reviews, preparing reports on their results, submitting proposals for remedying identified deficiencies, and ensuring implementation of adopted decisions;
• Providing specialized assistance and training to managers and specialists within the system;
• Preparing and submitting materials for approval by the Moldcoop Executive Bureau and other directive bodies.

Rights

• To prepare and issue recommendations to cooperative organizations and enterprises on matters within the Division’s area of competence;
• To request and receive, in accordance with established procedures, documents, materials, and information from other subdivisions, organizations, and cooperative enterprises related to economic-financial activities and accounting reorganization;
• To participate, with the consent of the Moldcoop Executive Bureau, in conferences and seminars on issues concerning the activity of consumer cooperation.

Financial and Economic Indicators

The Division monitors and analyzes the following indicators:

• Volume of retail sales
• Volume of wholesale sales
• Volume of paid services
• Volume of public catering services
• Volume of market services
• Volume of industrial production at current prices
• Volume of agricultural and livestock product procurement
• Working capital
• Sales revenue
• Cost of goods sold
• Gross profit
• Net profit

      The Finance and Economic Information Division maintains ongoing cooperation with educational institutions within the consumer cooperation system—namely, the Cooperative-Commercial University of Moldova, the Cooperative College of Moldova, and the Moldcoop Vocational School in Soroca—regarding the training and professional development of specialists in economic fields, particularly accounting.