Jul 14, 2024  
2022-2023 General Catalog 
2022-2023 General Catalog [ARCHIVED CATALOG]

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AGB 330 - Farm Business Management

Last Date of Approval: 2021

3 Credits
Total Lecture Hours: 45
Total Lab Hours: 0
Total Clinical Hours: 0
Total Work-Based Experience Hours: 0

Course Description:
This course focuses on business and economic principles applied to decision making and problem solving in the management of a farm business. Some of the topics include cash flow, partial, enterprise, and whole farm budgeting. Information systems will be used for farm accounting, analysis, and control. Obtaining and managing land, capital, and labor resources will also be covered in the course. Students will gain practical critical thinking skills, that incorporate personal and business skill sets necessary to be successful in Farm Management. Practical application of these can be vital to the future success of agricultural businesses.

Prerequisites/Corequisites: None

Mode(s) of Instruction: traditional/face-to-face

Credit for Prior Learning: There are no Credit for Prior Learning opportunities for this course.

Course Fees: None

Common Course Assessment(s): None

Student Learning Outcomes and Objectives:
Student Learning Outcomes:

1: Measure management performance based on management decisions.

2: Develop planning tools to improve decision making and information management.

3: Examine information and prepare necessary documents in order to improve management efficiencies

Course Objectives:

1- Management: - Learn about farm management in the 21st Century - Learn to acquire and organize management information - Be able to define depreciation - Learn the differences used to value farm and ranch assets - Learn about balance sheets and owner equity - Discuss the purpose and use of an income statement

2 - Basic Management Skills - Explain concept of marginalism - Illustrate the law of diminishing returns - Demonstrate how to compute a substitution ratio - Explain managerial decision making - Compute the different average costs - Learn about enterprise budgets - Learn about partial budgets - Demonstrate whole-farm planning - Understand the structure and components for a cash flow budget

3 - Improving Management Skills: - Explain the organization and characteristics of each form of business organization - Identify sources of risk and how they affect farmers and ranchers - Learn how to manage income taxes - Learn how to analyze investments - Demonstrate how to analyze farm business

4 - Resources for Management - Illustrate and Describe the importance of capital and the use of credit - Compare and Contrast the advantages and disadvantage of land control - Suggest ways to improve human resource management - Illustrate the importance of managing machinery

The student will demonstrate skills and abilities to accomplish farm operations tasks by:

1. Working in a cooperative environment to accomplish daily farming activities.

2. Surveying equipment needs to accomplish farming operations and negotiating with local implement dealers for lend/lease agreements.

3. Contacting seed suppliers and insuring timely delivery of seed.

4. Researching proper pesticide usage requirements and coordinating their application.

5. Setting up and properly maintaining equipment necessary to till, plant, and spray crops grown on the college farm.

6. Scouting crops for pests and weather-related disasters.

7. Communicating and cooperating with landlords and farm neighbors.

8. Learning proper clean-out procedures for fulfilling Value Enhanced Contracts.

9. Keeping Operational records of tasks completed on a variety of different crops.

10. Charting daily markets and reporting on marketing opportunities

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