AEA310 Farm Business Organisation Course Material Download – NOUN Study Resource | Download AEA310 Summary
Introduction
Agriculture is gradually taking a new turn in many developing countries. More and more traditional farmers are engaging in semi-commercial ventures, so, farmers need to improve their knowledge of farm management techniques. Farm management deals with decision making and problems at the farm level, regardless of size or type of farm.
There is great emphasis today on record keeping on the farm. This emphasis is correct. Many farmers presently in financial difficulties could have avoided some of these difficulties if they had records to consult. The purpose of keeping records is not just to accumulate masses of information. It is to use this information to compare and discern trends in the farm business. These trends help farmers make sensible managerial decisions.
This course comprises of four modules consisting of 21 units altogether. The first module starts with the Nature and scope of farm Business organization. This gives a focus on the definition, scope and objectives of farm Business organization. The second module discusses Farm records and Accounting. The third module discusses the various sources and uses of farm resources while the fourth module take a critical look at the economic and business climate of farming in Nigeria.
Key Concepts
Module 1: Nature and Scope of Farm Business Organization
- Unit 1: Definition and scope of farm management
- Unit 2: Objectives of farm management
- Unit 3: Nature of farm management decisions
- Unit 4: Organization of the farm setup
- Unit 5: Attributes and functions of a farm manager
- Unit 6: Application of management principles to farm organization and operations
Module 2: Farm Records and Accounting
- Unit 1: Methods of collecting farm management information
- Unit 2: Farm records
- Unit 3: Balance sheet
- Unit 4: Profit and loss account and cash flow statement
- Unit 5: Farm business analysis
Module 3: Acquisition and Use of Farm Resources
- Unit 1: Meaning and scope of farm resources
- Unit 2: Method of acquiring farm resources
- Unit 3: Various uses of farm resources
- Unit 4: Resource use efficiency
- Unit 5: Management of farm resources
Module 4: Economic Climate and Business Problems in Nigeria
- Unit 1: Business environment in Nigeria
- Unit 2: Business objectives
- Unit 3: Decision-making
- Unit 4: Sources of risks and uncertainty in agriculture
- Unit 5: Measures for reducing risk in agriculture
Module 5: Agribusiness Marketing Management
- Unit 1: The agribusiness marketing system
- Unit 2: Agribusiness marketing structure, conduct, and performance
- Unit 3: Agribusiness marketing margin analysis
- Unit 4: Price determination in agribusiness marketing
- Unit 5: Marketing mix in agribusiness
Practice Questions
Question 1:
Define farm management.
Correct Answer: Farm management is the application of economic principles in the management of a farm business.
Question 2:
What are the objectives of farm management?
Correct Answer: Profit maximization, cost minimization, utility satisfaction, control of market share, etc.
Download the Complete Course Summary
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