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Costs and Returns: Economic and Accounting Concepts

Author

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  • Harrington, David H.

Abstract

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," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(4), pages 1-8, October.
    • Handle: RePEc:ags:uersja:148995
    DOI: 10.22004/ag.econ.148995
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    Citations

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    Cited by:

    1. Lazarus, William F. & Selley, Roger A., 2002. "Suggested Procedures For Estimating Farm Machinery Costs," Staff Papers 14072, University of Minnesota, Department of Applied Economics.
    2. Harrington, David H., 0. "Income And Wealth Issues In Commercial Farm And Agricultural Policy," Increasing Understanding of Public Problems and Policies, Farm Foundation.
    3. Li Lee, Mei, 1986. "Cost Competitiveness of Apple Production in British Columbia Versus Washington State," Working Papers 244004, Agriculture and Agri-Food Canada.
    4. Betts, Carolyn, 1987. "Costs of Producing Milk, 1975-84," Agricultural Economic Reports 308027, United States Department of Agriculture, Economic Research Service.
    5. 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 Economic Reports 33981, United States Department of Agriculture, Economic Research Service.
    6. 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.

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