In this course, students will study the management principles for profitable farming operations, ranches, and other agribusiness firms. Topics include economic concept application and analysis, record keeping, creating and evaluating financial statements, budgeting, taxes, and risk management. Course concepts will be reinforced through laboratory instruction.
Quarters Offered
Fall
Course Outcomes
Upon successful completion of the course, students should be able to demonstrate the following knowledge or skills:
- Use an electronic or web-based record keeping system to sort and record useful information for the management of a production agriculture business.
- Prepare cash flow summary, balance sheet, and statement of profit and loss for a farming operation.
- Analyze financial statements to determine liquidity, solvency, and profitability of the operation.
- Apply economic principles to farm management.
- Utilize computer applications to aid in making management decisions.
- Analyze the economic health of the farming operation and make profitable business adjustments.
Institutional Outcomes
IO2 Quantitative Reasoning: Students will be able to reason mathematically using methods appropriate to the profession
Course Content Outline
- Economic Principles
- Record Keeping
- Financial Statements
- Balance sheet
- Cash flow summary
- Profit and loss
- Budgeting
- Taxes
- Risk Management
Department Guidelines
Course will utilize the farm management program Granular and incorporate supplemental articles by Danny Klinefelter.