The Farmer's Business Handbook

Abstract

THIS volume of the Rural Science Series consists, firstly of an elementary account of book-keeping suitable to a small farm, and secondly a discussion of such legal questions as leases, tenant right, highwaysr fences, mortgages, taxes, &c., with which an ordinary farmer is likely to become conversant in the course of his business. This latter portion of the book is naturally only applicable to the United States, and though succinctly and clearly written, can be of little service to the English reader. In the earlier section of the book a system of book-keeping is set out by which the farmer can ascertain not only his profit or loss as a whole, but the result of his operations on each field or in each section of his business. The usual method of double entry is employed, though only day book (for which the American equivalent is apparently “blotter”) and ledger are kept. The explanations are clear and simple, and may be read with profit by students who are beginning formal book-keeping, and are getting confused over the problem of Dr. and Cr. But we are by no means convinced that the ordinary system of double entry is the best method of handling farm accounts; naturally it can be made to deal with them, and for the cash account nothing different is wanted, but it is an extremely cumbrous means of ascertaining the profit or loss on individual crops or classes of live stock. Farmers are often reproached, and justly enough, with not keeping proper accounts, but it is not quite so easy a matter as in a business where all the items are in sight. So many of the figures must be estimates depending upon the judgment of the farmer; first of all the annual stock-taking has to be a valuation, in which market fluctuations have, or have not, to be considered, according to the purpose of the account. For example, a man has a breeding flock the number of which remains constant;; in ascertaining his profits upon sheep-breeding it is. best to take the value of the flock as constant, but in ascertaining his financial position at a given moment, he must re-value the flock at current rates. Again, many operations upon a farm are performed as much for their contingent advantages as for immediate return; the dung and cultivations given to the root crop have their value throughout the rest of the rotation; cattle are fattened for the sake of the manure they produce.

The Farmer's Business Handbook.

By I. P. Roberts. Rural Science Series. Pp. xiii + 300. (New York: The Macmillan Company; London: Macmillan and Co., Ltd., 1903.) Price 4s. 6d. net.