Account Summary Table

The following is a summary of some of the different land and timber accounts that can be established and the type of information that should be recorded in those accounts:

Account	Description	Value	Volume	Recovery
Land Accounts
Land	The number of acres of timberland (bare land value)	Basis from asset allocation		When property is disposed of
Non-depreciable land improvements	Improvements of a permanent nature (i.e., clearing, grading and ditching of permanent roads, land leveling, impoundment's	Basis from asset allocation		When property is disposed of
Depreciable land improvements	Non-permanent structures or improvements (i.e. bridges, culverts, gravel surfaces of roads, fences, firebreaks, temporary roads	Basis from asset allocation		By depreciation see IRS publication 534 Depreciation
Timber Accounts
Merchantable Timber	Timber that can be marketed for utilization in accordance with the standards of utilization prevailing in the region at the time of the acquisition	Basis from asset allocation	MBF, Cords	Depletion or allowable basis
Young growth	Timber too small to be sold as pulpwood or other cut products	Basis from asset allocation	Number of acres	Recovery when transferred to merchantable account and disposed of
Plantation or deferred reforestation	Used to record the costs associated with the regeneration of timber by natural or artificial means	Cost of seed or seedlings and all other costs associated with the reforestation		Recovery when transferred to merchantable account and disposed of