Pastoral Accounting in Colonial Australia by Carnegie Garry;

Author:Carnegie, Garry;
Language: eng
Format: epub
Publisher: Taylor & Francis Group
Published: 1997-08-15T00:00:00+00:00

This statement implies that the structure of the books would not enable a “fair” presentation of financial information. Andrew Geddes regularly corresponded with Robert Jamieson to report on station conditions and prospects and to provide periodic statements of “receipts and disbursements &c &c”.

A second day book and personalized ledger recording system was implemented at Stony Point station upon its acquisition in November 1881.46 Following the assumption of the bookkeeping function by Robert Jamieson the younger, who had won bookkeeping prizes at the Geelong Church of England Grammar School in 1879 and 1880 (Geelong Church of England Grammar School Archives, Corio), changes took place in the recording of non-financial operating information. Robert Jamieson the younger undoubtedly applied skills acquired at school in performing calculations with operating statistics from 1883 to arrive at measures of performance which evidently had not previously been derived. The wool production records for 1884 indicated by station the wool bale output for different types of wool and the totals of bales sold in different markets (that is, London and Geelong). From 1885, additional wool clip statistics were recorded along with the average weight of wool per head for each station. Lambing records available for Stony Point (1883) and Bolac Plains (1884; 1891 to 1900) indicated the lambing productivity rates of ewes in each paddock. Stock records show the adoption of a perpetual inventory system for control of livestock on Stony Point in 1883 and on Bolac Plains from 1891. Sheep count figures obtained on shearing feature in such records. The records of shearing tallies dating from 1883 indicated, by station, the daily performance of each shearer, the total sheep shorn per shearer over the shearing period and the overall total of sheep shorn. The overall total of sheep shorn was reconciled with the total of the tallies of each shearer. The payments due to each shearer based on shearing performance were also shown. For 1893 and 1894 “remarks” were recorded for each shearer which indicated the standard of their work during the season.

Following the death of Robert Jamieson on 8 November 1894, Peter Wares Tait of Camperdown was appointed to act as accountant on behalf of the executors of the deceased estate.47 A double entry bookkeeping system involving a general journal and ledger was established and maintained by the accountant from 8 November 1894 (6/16/7 & 8). The assets and liabilities of the Estate of Robert Jamieson as at 8 November 1894 were recorded at values which were those accepted by the Master-in-Equity for death duty assessment purposes (6/16/1). Accrual accounting was adopted involving the recording of debtors and creditors. The recognition of a depreciation expense in connection with plant commenced in the year ended 31 December 1896 but no other assets were depreciated earlier or in the next four years. Unsold wool was only shown as an asset on one occasion (as at 31 December 1898) and stores was not recorded as an asset in any accounting period to 1900. The values attributed to Bolac Plains

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