This paper outlines an approach designed to provide an accurate and efficient cost accounting system for use in schools and other social service organizations. In his discussion, the author presents a detailed step-by-step description of how to establish, plan, and operate the system. The basic element of the system is the Daily Event Record (DER), on which each staff member records how much time he devoted to different activities during the day. Appendix A contains a list of code numbers used on the DER to record different activities; Appendix B defines each of the activities represented by the code numbers; and Appendixes C, D, E, and F present samples of the DER and other forms designed to consolidate and summarize data from a number of individual DERs. (JG)