.4S81 Accounting* 
 
 
 FOREST PRODUCTS LABORATORY 1 FOREST SERVICE 
 U. S. DEPARTMENT OF AGRICULTURE 
 
 OO' 
 
 SMALL SAWMILL IMPROVEMENT 
 
 PRACTICAL POINTERS TO FIELD AGENCIES 
 
 ^^-/v^.^.- \^ 
 
 ACC X.1I7 INS — SIIJC-1S LOGSING CHA1TCE AS UNIT 
 
 Snail-mill owners as a class carry no accounting systems adequate- 
 ly picturing their complete costs. The resulting misconception of costs 
 leads them into unprofitable contracts and is conceded to "be a major cause 
 of the high business mortality in the small-mill field. Prom a broader 
 point of view the effect of considerable numbers of poorly financed snail 
 mills undertaking impossible contracts and under constant pressure to 
 liquidate is to weaken the price structure of the lumber industry and at 
 the same time wreck the forest capital. 
 
 The elementary system enclosed is directed toward the thousands 
 of small -mill owners keeping no accounts. Their characteristic confidence 
 that they know their full costs may prove a serious obstacle in gettinr 
 them to assimilate information on how to keep accounts. Enlisting the in- 
 terest of the mill owner is likely to call for versatility. In some in- 
 stances the cooperation of trade associations, concentration yard opera- 
 tors, bankers, and county agents can be relied upon. Manufacturers of 
 sawmill equipment might publish the information in account book forms 
 distribution at fairs. Once interest is awakened it seems likely that 
 contact agent can well work with the individual mill, taking time to fit 
 the accounting to the mill' s needs and initiating the operator in the 
 details. 
 
 The enclosed system is suggested as an outline to be used for 
 portable mill accounting. It differs from the system recommended for 
 stationary mills and concentration yards chiefly by using the job or timber 
 tract as the basis instead of the usual yearly time interval. The ir.for. - 
 tion thus secured gives for any tract analyzed the total "out of pocket" 
 costs of liquidating the timber and the total receipts derived. From this 
 is secured the balance representing payment for the owner's time and in- 
 terest on his invested capital. 
 
 The system suggest 
 ceipts essential to even ele 
 ing for depreciation, 
 some actual costs that sho 
 
 MCI$£«i 
 
 or 1 
 c n 
 equipment repairs, and taxes e fcio 
 all be rc£Q^mized,insmr.ll 
 
 Modifications to f 
 themselves, i.e., where . 
 labor ledger on page 2 is al 
 tures under contract instead 
 be used in operations getting 
 
 wnafc 
 
 .t individual operation 
 >art of the work is on a 
 
 JeFAS.o- &rov.t)frftorida> 
 
 ■etT viiKhiir h dpi Ijt yh'ijvo w 
 
 of payments and re- 
 hips, and by al low- 
 aid bring to light 
 mill operations. 
 
 will readily suggest 
 contract basis the 
 f the total expend i- 
 /stem. The system can 
 
 percentage of cut from sources Lde the 
 
 tract by allowing for costs and receipts on a percentage basis provided 
 
 the percentage is checked - ie costs and values weighted. For st 
 
 operations, however, the standard accounting baeed upon yearly intervals 
 
 and annual inventories is recommended. ., ,,_-..-,-. 
 
 Contributed by C. J. ^elford, 
 
 R599-4 Forest Products Laboratory, 
 
 October, 1931. 
 
 t Maintained at Madison. Wisconsin in cooperation with the Universirj oi Wisconsin. 
 
 •See outline in Small Sawmill Improvement Workins Plan. March 1930, Fo, explanation oi indexing system proposed 
 
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Digitized by the Internet Archive 
 
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 http://archive.org/details/limprOOfore 
 
T 
 
 -r 
 
 EQUIPMENT DEPRECIATION ACCOUNT - JOB #1 
 
 A record of the oortion of the total estimated equipment costs 
 which should be shared by this job. 
 
 Value 
 
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 fr 
 
 oir. 
 
 
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 jobs 
 
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 Purchase cost 
 
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0> 
 
 I 
 
 U1 
 
 RATE OF DEPRECIATION 
 A table as a guide in estimating: how long an item should last 
 
 Item 
 
 Estimated 
 useful life 
 
 Years 
 
 Average 
 wrecking value 
 
 Per cent 
 
 i 
 
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 3 
 
 
 
 Harness : 
 
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 BALANCE SHEET FOR JOB #1 
 
 Costs 
 
 Rece ipts 
 
 Timber 
 
 Total purchase price : 
 plus total carrying : 
 costs from sheet #1. : 
 
 : Total net of : 
 : sales for job : 
 : from sheet #6. : 
 
 
 Labor 
 
 Grand total for job : 
 taken from "Sheet : 
 Totals" of sheet #2. : 
 
 • X X 
 
 
 Maintenance 
 and supplies 
 
 ■Total "Amount Charged: 
 : to Job" from sheet : 
 
 : Total salvage 
 : for job from 
 : sheet #6. 
 
 
 Miscellaneous - 
 Legal fees, in- 
 surance, inter- 
 est, and taxes 
 additional to 
 sheet #1 , etc. 
 
 [Entered directly in ! 
 
 this column as ! 
 
 , incurred. '. 
 
 : X X 
 
 
 Total 
 
 "Out of pocket" costs 
 
 Balance 
 
 U) 
 
 Subtract total 
 costs from 
 
 _total_receip_t_r 
 
 • 
 
 Per M B. F, 
 
 Divide total cost by 
 M B.F. taken from 
 "Quantity-Actual" 
 column of sheet #1. 
 
 Divide total re- 
 ceipts by M E.F. 
 
 Subtract 
 per M B 
 
 costs 
 
 F. 
 
 from receipts 
 per M B. F. 
 
 (i) 
 
 This balance is the sum from this job going to operator as compensa- 
 tion for (a) interest on the money he must tie up in the business 
 and (b) payment for his time. In case he wishes to separate these 
 he can approximate how much (a) should be by multiplying his capi- 
 tal investment by 5 P er cent. His capital investment includes the 
 following: 
 
 Timber . — Capital investment in timber is an item only when operator 
 nays for it in advance of receiving payment for its products. Get 
 the average payment for this particular job by referring- to sheet 
 1, "Paid-Amount" column. Multiply this by an interval made up of 
 1/12 the estimated months this keeps mill supplied plus 1/12 the 
 estimated months between sawing and collection for a day's cut. 
 
 Plant and Equipment . — Capital invested in plant and equipment is 
 obtained by taking the total in sheet k t column 1, multiplying by 
 the proportion of one year required for the job, and adding the 
 sum which the operator keeps on hand, between payments received 
 for lumber, to meet the costs of items entirely consumed on the 
 job. 
 
 Labor . — Capital invested in labor is obtained by taking the aver- 
 age daily payroll multiplied by the average number of working 
 days separating the sawing and collection for a day's cut. 
 
I --•» 
 
 UNIVERSITY OF FLORIDA 
 
 3 1262 09216 3012