Standardization of farm accounts for managerial analysis

Abstract

With the rapid growth in farm management advisory services, increasing attention is now required by accountants to the improvements required in farm accounts if they are to be used effectively for farm management analysis. For this purpose the accounts should be so designed to provide information, on which to formulate policies and decisions for the future, rather than as traditional records of profits earned in the past. In this bulletin, the author discusses the changes of emphasis in farm accounts, which are required for farm management analysis.