Risk Management for Cooperatives

Formative Assessment #1
Introduction to Records Management

Name: ESTOLONIO, Riza C. May 21, 2022

BSC CSEM 4-1 PROF. Patrick John Rico

1. Define “record”.

 Records are information that has been recorded. Records are defined by the
International Standards Organization (ISO) as information created, received, and
preserved as proof and information by an organization or person in order to
comply with legal requirements or do business.

2. What is the importance of “records management”?

 The administrative role in any organization associated with the development,

organization, maintenance, usage, retrieval, and disposition of records is known as
record management. Records management improves economy and efficiency
within an organization by ensuring that useful records are retained and made
available, while unnecessary records are disposed of in a timely manner.

Every office has storage space issues and must make decisions about which data
to keep and which to trash. The goal of records management is to ensure
efficiency and economy in the creation, use, maintenance, and disposal of records.
3. What are the non-financial records that a cooperative maintains?

 Non-Financial Records (other than formulae) and such operating statistics and
other information about the Business and the Corporate Group's assets as the
Purchaser may reasonably seek from time to time.

Some of the non-financial records of cooperatives are:

 Members form for application
 Plans for future events
 Working paper/files that contain unique information
 Other forms
 Research and Development
 Audiovisual records, including posters, dealing with office functions and
activities

4. In your personal life, how do you manage your documents or files? Share your best
practices in personal records management.

 In my personal life, I organize my documents and files by first planning the

security or safety of my data. The area where the files will be housed must be in a
central location so that documents can be easily accessed. Second, I make a list of
files that need to be kept up to date. Finally, I classify each file and ensure that it
is properly organized.
 REFERENCES

Balachandran, D. V. (2009). Office Management (INTERNATIONAL EDITION). Tata

McGraw-Hill Education Private Limited 7 West Patel Nagar, New Delhi 110 08.

Non-financial records definition. Law Insider. (n.d.). Retrieved May 21, 2022, from
https://www.lawinsider.com/dictionary/non-financial-records

What is a record? Jisc. (n.d.). Retrieved May 21, 2022, from

https://www.jisc.ac.uk/guides/records-management/what-is-a-record