The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1920-07-01
prepared by the United States Depart
ment OF Agriculture)

MS lnVentc
prepared by the United States Depart
ment OF AgrcultureD
Here IL u medley of familiar say
ings-some with variations-each of
which applies to farm accounting and
80 to the problem of marketing farm
products:
Figures don't ile."
"A calculation In time saves nine"
Foresight Is better than hndsight"
ut pays 10 count the cost"
Specialists In the office OF farm man.
ugement, could add to this list almost
Indefinitely, for their studies of meth
ods OF farm management reveal the
tremendous need of accounting sys-
tens on American farms. The farmer
wants TO know whether his wheat pays
whether his cows pay, and whether
his orchard pays, and yet he seldom
has sufficiently accurate figures to an
swer such questions. Above all he
ought TO know and yet frequently does
not know. II his farm as whole
Is paying proposition. Department
OF agriculture specialists do not claim
that the systems of accounting for
farms which they recommend Will he
absolutely exnct. They are, neverthe-
less, sufficiently accurate for all ordl-
nary requirements. The department
does not furnish sets of books 10 farm
ers The systems which II recon-
mends require only such books ns can
he purchased of n stntlonrr or dealer
In books and school supplies
No Special Training Required.
Practical working systems OF ac-
counts which anyone may adopt with
out special study are recommended
one of these Is a direct-entry system
requiring no preliminary books for
original entries, which later would
have to be posted or copied into per
manent accounts.
From two To ten minutes day In
vestigation shows, Is all the time re-
Quired In keeping books, according to
the simpler methods suggested by fed
eral specialists. This does not include
day or two, possibly more. required
nt the end OF the year TO close up the
books and start new set. II Is rec
ommended that the accounting year be
started some time after the last crop
IL harvested In the fall and before the
first crop operations are started In
the spring. The beginning should he
made on the first day of some month.
Inventory Highly Important.
To many the Inventory required In
effective farm accounting is n big buga-
boo, but unnecessarily so. Many farm
ers keep careful accounts throughout
the year. but fail to realize that they
are OF relatively Tito use, without the
inventory, In showing the years In
come. As n matter of fact the taking
OF the inventory is not such difficult
task as many think. and probably will
not require more than four or tive
hours--possbly only two hours-to
complete.
The inventory should be n detailed
list OF all items of farm property and
the values thereof, including the farm
the farm buildings, the horses, the cat
tie and other live stock. machinery,
tools, feed, produce. supplies, cash on
hand and In the bank, amounts due
from other persons and owed to other
persons, and the value OF growing
crops. The latter Is calculated by
adding the value OF labor and mate
rlals already spent on those crops.
The thing which the United States
department OF agriculture emphasizes
Is the urgent need OF keeping some
form OF systematic accounts. The
elaborateness OF the records Will de-
pend upon what the farmer wants to
know. and the time he has available
for keeping accounts. The department
VIII be glad TO suggest a system which
will enable him to figure his income
tax and ascertain what his farm as .
whole Is making. II can also suggest
system which with enable him 10 de-
termlne approximate production costs
on his farm. For others, particularly
owners os very large farms. the de-
partment of agriculture Is prepared
10 recommend "A detailed cost account
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