APPENDIX No. IV. 



INTKKIM REPORT submitted by M: II < II l-Yllow of the Institute of Chartered Accountants, 1). 



of Agricultural Costa in connection with his evidence given mi 'J.'.r.l September, 191'.'.* 



On 456 Farm Account* for the year ended Michaelmas, 1918 (or subsequently) submitted to the Agricultural 

 Costing* Committee. 



IE. The figures should be regarded an interim figure* only. Certain additional information has mill to 

 be received and the final corrected figure* will be presented in a later Report.) 



TABLE OF CONTENTS. 



Introduction 



Number of Account* receive! 

 Financial Results of Account* 

 Inventory and Valuation ... 



Capita] 



Profit 



Receipts or Income 



Payments or Expenditure 



Paragraph Paragraph 



1 I: t '.' 



l! Wages 10 



The Relation ,.f Kent Wages and Profits ... 11 



4 The Grouping of Farms according to Size and 



5 Type 12 



6 Owner-Occupiers ... ... ... ... ... 1:1 



7 Costs of Production 14 



8 General lf> 



Paragraph 1. 

 Gentlemen, 



The Accounts dealt with in this Report have been 

 obtained by the Agricultural Costings Committee in 

 accordance with your request, when I attended before 

 your Commission on the 12th August last, that the 

 Costings Committee should endeavour to obtain Accounts 

 from those farmers with whom it was in touch, on 

 the understanding that the information should be sub- 

 mitted confidentially to the Costings Committee, and be 

 forwarded anonymously to you. The Accounts have 

 accordingly been obtained by the Costings Committee on 

 these conditions. 



You desired the Agricultural Costings Committee to 

 approach a limited number of farmers, i.r , those with 

 whom the Costings Committee was in touch, and you 

 wished those farmers to be excluded who had been, or 

 would be, approached by the National Farmers' Union, in 

 pursuance of your prior arrangement with them to submit 

 similar information. 



Farmers were requested to furnish, in addition to a 

 copy of their Accounts, certain essential information with 

 regard to their farms. 



NUMBER OF ACCOUNTS RECEIVEH. 



As a result of the enquiries made by the Agricultural 

 Costings Committee, 455 Statements of Accounts were 

 received. It has been necessary in consequence of the 

 guarantee of secrecy to abstract each account on to 

 analysis sheets. 



For the purposes of this Report these accounts have 

 lieen classified as follows : 



A number of these statements of account includo more 

 than one farm. 



The Accounts dealt with in this Report arc those in 

 Classes 1 to 8 above and include 327 Accounts. 



The Accounts of the Co-operative Farms are in some 

 respects not in quite the same category as other farms. 

 Implements, &c., are I am informed purchased on more 

 favourable terms, and the farm produce is sold in 

 the majority of case* either to the Retailing and Distri- 

 buting Departments of the Society or to the Co-operative 

 Wholesale Society. I understand that, generally speaking, 

 these sales of produce are made on an ordinary commercial 

 market basis. A few of these Co-operative Farm 

 Accounts have been tabulated (Class 7) and others remain 

 to be dealt with, if necessary. 



With regard to the Accounts marked as " Unsatisfac- 

 tory," it will be seen that the proportion of these accounts 

 is somewhat high, and this indicates that there is room 

 for improvement in the standard of account-keeping 

 prevailing in the Industry generally. 



As to the Accounts " Not dealt with," in order to 

 submit this Report in time it was necessary to limit the 

 number scheduled to those received up to 6th inst. Tho 

 number of Accounts shown as not dealt with are for that 

 reason being tabulated on supplementary sheets and will 

 if possible be included in a later report. 



Paragraph 3. 



l'is \M-I.\L RESULTS OF ACCOUNTS. 



The results shown by the aggregate number of 

 Accounts dealt under Classes 1 to 6 (304 in number) are 

 as follows : 



*. d. 



Total Capital invested in Stock Equip- 

 ment, &o. (Sw Table B) 1,742.000 



Total Capital invested in Stock Equip- 

 ment, &c. per acre ... ... ... 11 17 9 



Total Pro6ts shown by the Accounts. 



(.<?> Table C.) 190,562 



Average Rate per cent, on the Capital 



in vested 10-9496 



Average Profit per Acre 160 



The profits shown above are arrived at as follows : 



Per Acre. Total. 



*. il. 

 Commencing Valuations (See 



Table A) Hi :' 2 l.l.so.27:t 



Total Expenditure (,s'.r Table K) sit :: I.:: 



, I.IVIK or Profit ( Table C) 1 6 190,562 



20 2 5 2,91C>,678 



T.nnl Income (tiff Table D) ... 

 Kii.liir! Valuations (.Sw Table A) 



1'er Acre. 



*. d. 



8 10 8 

 11 II 9 



Total. 

 



1,697,841 



C2,'.II6,678 



The examination of the witness has already been published in Vol. III. of the Minutes of Evidence [Cd. 391]. 



