The accounting system of the Farm Management Service Laboratory of Western Australia is discussed. As a point of reference it uses the system approved by the National Workshop on Standardization of Termimlogy and Procedures in Farm Management Accounting in Australia. The Laboratory's system is expressly designed to provide a continuous flow of information to the farmer for his cwtrol, understanding and evaluation, planning and budgeting, and enhancing credit-worthiness.
My subject arises from a recent, though limited, personal experience in economic planning in an underdeveloped country. This was as a member of the Economic Survey Mission on the Economic Development of Zambia organised jointly by the United Nations Economic Commission for Africa and the F.A.O. It confronted me with questions about the usefulness of economics and the adequacy of economists for the development of policies to enable the majority of mankind to be freed from the shackles of poverty.
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