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Accounting as a management tool for non-industrial private forestry

Author

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  • Hyder, Akmal S.
  • Lönnstedt, Lars
  • Penttinen, Markku

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.

Suggested Citation

  • Hyder, Akmal S. & Lönnstedt, Lars & Penttinen, Markku, 1999. "Accounting as a management tool for non-industrial private forestry," Scandinavian Journal of Management, Elsevier, vol. 15(2), pages 173-191, June.
    • Handle: RePEc:eee:scaman:v:15:y:1999:i:2:p:173-191
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    Cited by:

    1. Hyytiainen, Kari & Penttinen, Markku, 2008. "Applying portfolio optimisation to the harvesting decisions of non-industrial private forest owners," Forest Policy and Economics, Elsevier, vol. 10(3), pages 151-160, January.

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