Accounting as a management tool for non-industrial private forestry |
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| Institution: | 1. Department of Business Administration, University College of Gävle-Sandviken, S-801 75 Gävle, Sweden;2. Department of Forestry Economics, The Swedish University of Agricultural Sciences, S-901 83 Umeå, Sweden;3. Finnish Forest Research Institute, Helsinki Research Centre, Unioninkatu 40A, FIN-00170 Helsinki, Finland;1. Department of Botany, University of Agriculture, Faisalabad, Pakistan;2. Institute of Molecular Biology and Biotechnology, The University of Lahore, Lahore, Pakistan;3. Department of Agronomy, University of Agriculture, Faisalabad, Pakistan;1. The University of Tennessee, Department of Business Analytics and Statistics, 249 Stokely Management Center, 37996 Knoxville, TN, USA;2. Ghent University, Department of Marketing, Tweekerkenstraat 2, 9000 Ghent, Belgium;1. School of Geography and Tourism, Shaanxi Normal University, Xi''an, 710119, China;2. Key Laboratory of Soil Resource & Biotech Applications, Shaanxi Academy of Sciences, Xi''an Botanical Garden of Shaanxi Province (Institute of Botany of Shaanxi Province), Xi''an, 710061, China;3. Swiss Federal Institute for Forest, Snow and Landscape Research WSL, Research Unit Forest Dynamics, Zürcherstrasse 111, 8903, Birmensdorf, Switzerland;4. Institute of Earth Sciences, Heidelberg University, Im Neuenheimer Feld 234-236, 69120, Heidelberg, Germany;5. State Key Laboratory of Loess and Quaternary Geology, Institute of Earth Environment, Chinese Academy of Sciences, Xi''an, 710061, China;6. Shaanxi Key Laboratory of Earth Surface System and Environmental Carrying Capacity, College of Urban and Environmental Sciences, Northwest University, Xi''an, 710069, China;7. State Key Laboratory of Cryospheric Sciences, Northwest Institute of Eco-Environment and Resources, Chinese Academy of Sciences, Lanzhou, 730000, China;8. Qinling National Botanical Garden, Xi''an, 710061, China |
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| Abstract: | Non-industrial private forest owners (NIPF owners) supply most of the roundwood in Scandinavia. For these owners, it is the supply of timber that provides income and return on invested capital. Owners have to decide whether to invest more in their property, or to disinvest. They have to find ways to increase revenue and cut costs. By applying business accounting practices to traditional forest accounting we propose principles for profit and loss accounts and balance sheets for NIPF owners. We argue that it is important for the forest owner to complement the strictly regulated accounting with contingent adjustments. An economic analysis of a medium-sized forest holding illustrates the importance of this type of adjustment. Research on this question can help to increase economic awareness among private owners and to support the harmonization of forestry accounting in the EU. |
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