Records can be used to determine and/or develop the following things:
How much money was taken in
How much it cost to operate the farm
How much it costs the family to live
What crops were planted and how much was produced
The profitability of each enterprise
Records can also be used to develop sound marketing plans, loan applications and reports to lenders.
RESULTS OF GOOD RECORD KEEPING
Improved decision-making skills
Ability to evaluate the farm financial performance position
Ability to identify production and marketing problems
Ability to decrease debt/asset ratio
Improvement in farm management practices
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