Accounting in Small Business Decisions by James L. Gibson, W. Warren Haynes

By James L. Gibson, W. Warren Haynes

Accounting in Small enterprise Decisions offers the 1st large-scale empirical exam of the way small agencies use accounting info to make working judgements.

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If the future is unlike any prospects that this firm or any other firm in the past has ever met, where does one get the information to determine the shapes and positions of the probability distributions? One may doubt that even a large nursery with a great volume of sales of each plant material could profit much from refined statistical analysis; and the smaller the nursery, the more doubtful the practice. Thus we have encountered a serious obstacle t9 the application of the model to the realities of business life.

While the one accounting figure that does seem to influence decision making is "income," this figure is rather peculiar because of the nature of accounting in the nursery industry. 2 The nurseries covered in this study measure their income without regard to the inventory of plants. Some of them operate on a "cash" basis. But even the firm that maintains accounts on an accrual basis does not estimate the value of plants; this is done in conformity with income tax regulations. Thus a nursery that ends a year with a greater volume of plant materials in the ground or in the warehouse than at the beginning does not reflect this fact in its income figure.

It is not a budget of costs and revenues; only wholesale costs are included in the merchandise budget. It may cover a three- to six-month period, or longer, depending upon the store's characteristics. The budget and the small retailer The allocations in the case studies are in terms of units, of dollars, or of both. When it is in terms of dollars (the 46 predominant practice), the retailer attempts to maximize the gross margin on the sale of all items. Since price lines are usually firmly established in small retail stores, the emphasis is on "economic" buying.

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