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Costs and Returns: Economic and Accounting Concepts


  • Harrington, David H.


This article reviews economic and accounting bases for costs-of-production (COP) calculations It finds that the problems of circularity of arguments, potential cost· price spirals, and escalating land values are Inherent m all full COP methods of setting support prices Inflation, Income tax regulations, and credit usage Interact to distort the traditional relationships between cash costs and cash returns, thus requiring explicit correction m COP calculations

Suggested Citation

  • Harrington, David H., 1983. "Costs and Returns: Economic and Accounting Concepts," Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 4.
  • Handle: RePEc:ags:ueraer:148995

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    References listed on IDEAS

    1. Emanuel Melichar, 1979. "Capital Gains versus Current Income in the Farming Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1085-1092.
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    Cited by:

    1. Ahearn, Mary Clare & Collender, Robert N. & Diao, Xinshen & Harrington, David H. & Hoppe, Robert A. & Korb, Penelope J. & Makki, Shiva S. & Morehart, Mitchell J. & Roberts, Michael J. & Roe, Terry L. , 2004. "Decoupled Payments In A Changing Policy Setting," Agricultural Economics Reports 33981, United States Department of Agriculture, Economic Research Service.
    2. Lazarus, William F. & Selley, Roger A., 2001. "Suggested Procedures For Estimating Farm Machinery Costs For Extension Audiences," Staff Papers 14150, University of Minnesota, Department of Applied Economics.
    3. Lazarus, William F. & Selley, Roger A., 2002. "Suggested Procedures For Estimating Farm Machinery Costs," Staff Papers 14072, University of Minnesota, Department of Applied Economics.
    4. Harrington, David H., 0. "Income And Wealth Issues In Commercial Farm And Agricultural Policy," Increasing Understanding of Public Problems and Policies, Farm Foundation.


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