Library

Using Financial and Production Records to Make Decisions

Summary

The ultimate goal for using any record keeping system is to help make better management decisions. In particular, farm records should allow the owners to compare their operation to others or itself historically. Secondly, farm records should allow the owners to plan and evaluate proposed projects. Lastly, owners should understand how to interpret financial and enterprise records in order to determine when the farming operation strays off-course. With good financial information owners will be able to determine how the farming operation got off-course and develop a corrective course of action.