Comparison between actual measurements rsu and

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Comparison between actual measurements (RSU) and implied activity control (SMU) shows that the latter gives a slightly smaller change in growing stock values. Moreover, calculations without cuttings and using the sum-value method (Vehkamäki 1998, Airaksinen 2008) depict the accuracy of and differences in the methods. The method A maximises the NPV and B maximises the net income of the first 10 year planning period only (Figure 4). The MARTTI accounting system contains input information planning tables (the abbreviations refer to MELA (Redsven et al. 2007)) standing for: Forest management plan Forest stands Tree stratums (growing stock information on a stand by tree species) Actions by forest stand (SMU_EVENTS). The output information of the MARTTI system contains result tables standing for: Calculation results by forest stand (MPU) Calculation results by tree stratum (growing stock by tree species) (SMT) Bare land value by forest stand (the log file of the run) Sum table a t the forest holding level (net present value, land value) Figure 3. Transformation from cash based transactions to an accrual based one in the MARTTI profitability book-keeping of MTT Economic Research. Cash- revenues Total returns Cash basis (Agricultural taxation law) Accrual basis Adjustment items: - Accounts receivables and other accrued incomes (-/+) (receivables) - Advances received (+/-) (depts) Total costs Adjustment items: - Trade payables and other accrued expenses (-/+) (debts) - Advance payments (+/-) (receivables) Cash- expenditures (+/-) beginning/end of accounting period Revenues/turnover - Change in stocks of finished products (-/+) - Production for one’s own and farm use Expenditures - Change in inventories (+/-) - Depreciations - Costs of own resources (labour and capital)
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Working Papers of the Finnish Forest Research Institute 93 14 The developed accounting service is based on the cooperation between MTT Economic Research and the Finnish Forest Research Institute as well as cooperation of the MARTTI book-keeping system and the MELA FMP system through the Internet (the development of this service and system descriptions have been described by Latukka et al. 2005). The MARTTI system table also contains the classifications of forest holdings and forest variables such as location, land use forms, tree species, stumpage prices and actions. The site information for each stand is based on the forest inventory of the forest management plan (FMP), and is available for evaluation of the forest holding. The owners have updated all the factors affecting the amount of the growing stock, such as plantings and fellings, up to the end of the fiscal year. Finally, the valuation of the growing stock for each fiscal year requires updating the stand data with help of growth models of MELA according to the situation at the end of the fiscal year.
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  • Spring '17
  • Jane Smith
  • Balance Sheet, The Land, ........., International Financial Reporting Standards, Finnish Forest Research Institute

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