Because Australian school principals are being given increasing autonomy, knowledge of basic accounting principles and skill in elementary financial management are becoming more necessary. This book attempts to supply school administrators with information needed to handle new accounting duties and to lay a foundation for future fuller involvement in financial management. Chapter 1 on office management outlines how to free more time for managerial functions like planning and educational leadership. Chapter 2 deals with receipts and payments including the use of receipt books, deposit books, checkbooks, analytical cashbooks, and ledger accounts. Chapter 3 concentrates on control of inventories and equipment and focuses on purchase orders, voucher systems, and recording of stock received. Chapter 4 puts budgeting in the context of current and long-term planning and discusses how to determine staff and other costs. It also deals with reporting to management and analyzing decision-making and reallocation of resources. Chapter 5 on economics handles the problem of expending limited funds with maximum effectiveness. It posits two kinds of efficiency: technical efficiency, which is the ratio of outputs to inputs, and allocative efficiency, which takes into account the relative productivity and prices of input. A lengthy bibliography contains relevant exercises. (Author/JM)