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Apr 28, 2024
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2022-2023 Catalog [ARCHIVED CATALOG]
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AGRI 208 - Agricultural Financial Records
PROGRAM: Agriculture
CREDIT HOURS MIN: 3
LECTURE HOURS MIN: 3
DATE OF LAST REVISION: Spring, 2019
Application of principles of financial and cost accounting, finance, and management to recording the farm’s input, cost, production, price, and revenue information. Use and organization of financial data to assist farm management and decision- making, such as financial analysis, budgeting, strategic decisions for evaluating and improving operations, credit needs, and tax liabilities.
MAJOR COURSE LEARNING OBJECTIVES: Upon successful completion of this course the student will be expected to:
- Understand the importance and value of financial records in agricultural business
- Construct an income statement, if provided with relevant information
- Construct balance sheet, if provided with relevant information
- Construct a statement of cash flows, if provided with relevant information
- Interpret and use the three financial statements
- Understand the relationship between the three financial statements
- Understand the difference between cash and accrual accounting, as is pertains to agricultural business
- Calculate performance measures, such as key ratios, and interpret the results
- Understand the concept of benchmarking
- Understand the role of agricultural production records in developing financial records
- Calculate depreciation schedules
COURSE CONTENT: Topical areas of study include -
- Income Statement
- Balance Sheet
- Cash Flow
- Equity
- Net worth
- Credit
- Debit
- Income Revenue
- Fixed Cost
- Variable Cost
- Overhead
- Cash Accounting
- Accrual Accounting
- Depreciation
- Return
- Benchmarking
- Ledger
- Asset
- Debt
Course Addendum - Syllabus (Click to expand)
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