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| Barnard, Freddie L.; Ellinger, Paul N.; Wilson, Christine A.. |
| It is widely accepted that net farm income reported on an accrual-adjusted income statement is a more appropriate profitability measure than net farm income reported on Schedule F of the federal tax return, which is prepared using cash basis accounting. However, a common practice among agricultural lenders is to use Schedule F net farm income, which uses the cash basis of accounting, as a proxy for accrual-adjusted net farm income. A study of 1,045 individual Illinois farms’ records from 2002 through 2006 found the median absolute annual percentage difference between a three-year average cash and a three-year average accrual-adjusted net farm incomes is 57 percent for farms of stable size; 43 percent for farms with annual gross revenue increasing at rates... |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 2010 |
URL: http://purl.umn.edu/96408 |
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| Miller, Alan; Barnard, Freddie L.; Brown, Norman; Duckworth, Brenda; Wheeling, Barbara; Whittman, R.L. (Dick). |
| Farm enterprise analysis is a term that has traditionally been used to describe the process of determining costs associated with farm business enterprises and enterprise profitability. A key challenge to those who would know their costs has been the lack of guidance on cost accounting principles and the application of those principles to agriculture. However, that recently changed with the publication of the Farm Financial Standards Council’s Management Accounting Principles for Agricultural Producers, which has led to questions about the usefulness of enterprise analysis. The differences between the two approaches to determining costs for farm business enterprises are discussed as they relate to the usefulness of the output to managers for decision making. |
| Tipo: Journal Article |
Palavras-chave: Productivity Analysis. |
| Ano: 2010 |
URL: http://purl.umn.edu/96383 |
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