A guidebook has been developed to assist the fire managers and planners in estimating actual economic costs, losses, and benefits resulting from fire management activities. This guidebook was developed and tested on 12 National Forests during the 1977-79 period. The procedures were developed primarily for Forest Service use but are adaptable to other agency and individual situations. Individual fire reports provide the basic fire inputs for the process while the guidelines lead the user on a stepwise basis through an array of economic processes. The procedure is based on 10 value components. Detailed instructions have been developed and a suggested working form provided. The authors point out that continued development and improvement of this type of process is an absolute necessity if sound management decisions are to result.