As the business of a cemetery company or association is based upon dealings with land, it seems appropriate that the accounts of such concerns should be mentioned here. In the case of a cemetery company organized for profit, few difficulties are encountered. A tract of land is bought, subdivided, and sold, each sale yielding its profit, while the expenses of maintenance and operation are chargeable against the income. No difficulty should be experienced in arriving at the results of the business for any given period.

There are, however, springing into existence throughout the country cemetery associations which are not organized for profit, but for the purpose of providing in perpetuity a burial place. Such an association also provides for the perpetual care and beautifying of the cemetery as a whole, as well as for the proper maintenance of the individual plots that may be placed in its care by the owners. Any surplus is devoted to further improvements or placed in a reserve, but in no case assumes the form of dividend or profits.

In order to carry out such provisions, it is necessary to establish separate trust funds, the income from each of which is devoted to a specific purpose, such as general maintenance, general improvement, perpetual care of lots, etc.

To devise a system of accounts to cover these various matters, and to provide as far as possible for the future so that an auditor, fifty or a hundred years hence, may easily trace the history of each trust fund established, is a matter of unusual complexity and should be placed in the hands of a competent accountant.