AGEC 2010 Farm and Ranch Business Records
This course introduces the student to basic accounting principles, business methods, financial measures, and indicators commonly found in an agricultural operation. The student will be 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
- Organization of systems for farm businesses
Outcomes
In order to successfully complete this course, the student will:
1. Classify cash and accrual accounting procedures.
2. Prepare financial statements.
3. Construct an enterprise budget.
4. Analyze accounting terms and systems.
5. Demonstrate efficiency measures, profitability, and risk.
Other Information
Any information placed here must be adhered to by all instructors:
For textbook information, contact the Agriculture/Range Management Instructor.