This is a thoroughly revised edition of the 1969 publication, "Accounting for Independent Schools," a guide that attempted to codify basic accounting principles and practices for specific application to independent schools. The focus of the second edition is more on refining practices than on initiating them, and more on extending the managerial uses of accounting information than on defining them. However, the basic objectives that guided the preparation of the first edition apply as well to the second. This edition offers school officials and accountants systematic guidelines to "best" current accounting, reporting, management, and planning practices. Separate chapters focus in turn on basic accounting principles, the chart of accounts, sample journal entries, financial statements, dealing with independent certified public accountants, basic accounting systems, automating accounting systems, budgeting, cash management, and financial planning. (Author/JG)