The Fayette falcon. (Somerville, Tenn.) 190?-current, 1920-05-14

His lnventt
prepared by the United States Depart
ment of Agriculture)
Here is medley of familiar say
ings-some with variations-each of
which applies to farm accounting and
so to the problem of marketing farm
products:
Figures don't lie."
"A calculation In time saves nine"
Foresight is better than hindsight."
1T pays to count the cost"
Specialists IN the Office of farm man.
agement, could add to this list almost
Indefinitely, for their studies of meth
DDS 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, if his farm as a whole
Is a paying proposition. Department
Of agriculture specialists do not claim
that the systems of accounting for
farms which they recommend will be
absolutely exact. They are, neverthe-
less, sufficiently accurate for all ordi-
nary requirements. The department
does not furnish sets of books TO farm
ers. The systems which 1t recon-
mends require only such books as can
be purchased of a stationer 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 a 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
a day or two, possibly more, required
at the end of the year to close up the
books and start a new set. 1t is rec
commended that the accounting yea be
started some time after the last crop
is harvested in the fall and before the
first crop operations are started in
the spring. The beginning should be
made on the first day Of some month.
Inventory Highly Important.
To many the inventory required in
effective farm accounting lisa big buga-
boo, but unnecessarily so. Many farm
ers keep careful accounts throughout
the year, but fall to realize that they
are of relatively little use. without the
inventory. in showing the years In
come. As a 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 five
hours-posslbly only two hours-to
complete.
The inventory should be 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
rails 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 win 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 system which
VIII enable him to figure his income
tar and ascertain what his farm as
whole II making. II can also suggest
a system which win enable him to de-
termine approximate production costs
on his farm. For others. particularly
owners Of very large farms. the de-
partment Of agriculture Is prepared
70 recommend 4 detailed cost account
ine system which may require ne
services Of = bookkeepef. For the