791-205 Financial Management I

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Objectives:

The objective of the subject is to introduce students to the accounting and record keeping needs of primary producers, and to introduce a range of business management tools for analysing performance and evaluating alternative management strategies.

Content:

Students will be introduced to alternate approaches of recording farm financial and physical information. Alternatives will include single entry systems such as the Farm Record Book, published by the Department of Agriculture and Rural Affairs, and double entry accounting systems. Computer software available for recording farm financial information will also be considered. Students will then consider the use of the recorded information for the measurement of operating profit, techniques for assessing enterprise performance, including the use of gross margins, and assessment of budgeting procedures, including partial budgeting. Students will be expected to be proficient in the use of a spreadsheet program.

Assessment: