AGEC 2010 Farm and Ranch Business Records
This course introduces students to the basic accounting principles, business methods, financial measures, and indicators commonly found in an agricultural operation. Students are introduced to recordkeeping requirements and methods, use of a balance sheet and income statement, enterprise budgeting, cash flow budgeting, partial budgeting, and forms of farm business organization. (3 lect.)
Major Topics
- Cash and Accrual Accounting Procedures
- Bookkeeping and Tax Reporting
- Use of a Balance Sheet
- Use of an Income Statement
- Enterprise Budgeting
- Partial Budgeting
- Cash Flow Budgeting
- Forms of Farm Business Organization
Outcomes
In order to successfully complete this course, the student will:
1. Identify and use cash and accrual accounting procedures
2. Identify and use a balance sheet
3. Identify revenue and expenses and analyze net farm income
4. Determine and analyze input and enterprise combinations
5. Determine and evaluate costs
6. Identify and use whole farm planning
7. Identity and use cash flow budgeting
8. Describe and evaluate risk and uncertainty
9. Explain and apply the current tax system
10. Evaluate and analyze investments
11. Evaluate and analyze a farm business applying efficiency measures, profitability, and size
Other Information
Any information placed here must be adhered to by all instructors:
For textbook information, contact the Agriculture/Range Management Instructor.