Agricultural Business

Topics include: Cost benefits analysis, direct and indirect costs, variable, fixed, and mixed costs, current liabilities; nature of corporations and related equity and income reporting issues; long-term liabilities; statement of cash flows; nature and behavior of manufacturing costs; introduction to cost accounting concepts and systems; cost-volume-profit relationships; introduction to budgetary and activity based costing systems and planning.

This is the first in a two semester series where both the production management and financial management of a rural or farm business are studied. The course emphasizes the skills needed to manage a profitable business including analysis of financial statements, record keeping, key production management areas, leadership and decision-making skills. Aspects and functions of management as well as types of decision making will be introduced. Acquiring and organizing financial management information will be the primary emphasis of the course including constructing and analyzing financial statements and pertinent production information. The importance of good management (financial and otherwise) to the success of the business will be stressed.

Dairy Management Analysis is an overview of the factors that influence dairy cattle production units today. Topics include dairy records analysis, fresh cow management, heifer and calf management, housing and ventilation, economics, profitability factors and employee management. Participation in the Northeast Dairy Challenge interscholastic competition or an assigned farm assessment with presentation is required.