AGRI 104 Agriculture Management
Students will study economic principles, records, and analyses that enable decision making for maximum profits in agricultural enterprises. Lectures and labs include tools used for management of financial assets and planning including the balance sheet, income statement and budgets, investment analysis of business-related improvements, tax issues, and personnel management.
General Education Competency
[GE Core type]
AGRI 104Agriculture Management
Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.
I. General Information
II. Course Specification
Course Type
Program Requirement
General Education Competency
[GE Core type]
Semester Contact Hours Lecture
45
Semester Contact Hours Lab
0
Semester Contact Hours Clinical
0
Grading Method
Letter grade
III. Catalog Course Description
Students will study economic principles, records, and analyses that enable decision making for maximum profits in agricultural enterprises. Lectures and labs include tools used for management of financial assets and planning including the balance sheet, income statement and budgets, investment analysis of business-related improvements, tax issues, and personnel management.
IV. Student Learning Outcomes
Upon completion of this course, a student will be able to:
- Choose profit maximizing production levels using input costs and output prices.
- Determine the least cost combination of two inputs using the price and substitution ratios.
- Determine the profit maximizing level of production using fixed and variable costs.
- Use three methods to calculate depreciation and identify advantages and disadvantages for each method.
- Develop a balance sheet and calculate ratios to assess liquidity and solvency.
- Develop an income statement and perform an analysis of farm profitability.
- Create an enterprise budget and determine whether the enterprise will be profitable.
- Create a partial budget and determine whether a change to an example farm business will be profitable.
- Create a cash flow budget, identify its uses, and analyze the cash flow of an example farm business.
- Create a spreadsheet that calculates principle and interest payment amounts and will analyze investments using the data.
V. Topical Outline (Course Content)
Unit
Topic
1
Farm Management in the 21st Century
2
Management and Decision Making
3
Choosing Production Levels
4
Choosing Input and Output Combinations
5
Cost Concepts in Economics
6
Depreciation and Asset Valuation
7
The Balance Sheet and Its Analysis
8
The Income Statement and Its Analysis
9
Enterprise Budgeting
10
Partial Budgeting
11
Cash-Flow Budgeting
12
Investment Analysis
VI. Delivery Methodologies
Required Assignments
Students will submit a portfolio containing all of the financial documents they have created for this course
Specific Course Activity Assignment or Assessment Requirements
Students will submit a portfolio containing all of the financial documents they have created for this course