AGEC 2020 Farm and Ranch Business Management
This course introduces the student to economic principles, business methods, and science applied to agricultural organization and operation. The measurement of business size, rate, and efficiency of production is emphasized. (4 lect.)
Major Topics
- Cash and accrual accounting procedures
- Types of depreciation
- Use of a balance sheet and income statements
- Analyzing net farm income
- Input and output functions
- Enterprise combinations
- Application of cost concepts and economies of size
- Farm planning
- Cash flow budgeting
- Risk and uncertainty
- Using the current tax system
- Organization of systems for farm businesses
- Investments
- Farm business efficiency measures, profitability, and size
Outcomes
In order to successfully complete this course, the student will:
1. Demonstrate the different types of depreciation.
2. Prepare a balance sheet, income statement, net farm income, and change in owners equity.
3. Analyze input and enterprise combinations.
4. Identify a farm plan with simplified and linear programming.
5. Create a full business plan.
Other Information
Any information placed here must be adhered to by all instructors:
Assessment: Student are assessed through field experience, homework assignments and exams. A typical class period will include activities associated with the lecture. In class discussion and attendance are important factors that will be considered if a student finishes the semester with a borderline grade. Required Material: Text: Contact instructor for textbook information. Software: Microsoft applications available on all campus computers.