This article will help you to maintain cost accounting records for your farm business. Meaning of Cost Accounting: In any business where production of goods, services, or processing of raw material is undertaken the maintenance of the cost of production is very crucial. In the field of crop production working out of the cost of production (cost of cultivation plus [...]
This article throws light upon the seven main factors which affect farm income. The factors are:- 1. Size of Farm 2. Rate of Production 3. Choice and Combination of Enterprises 4. Intensity of Cultivation 5. Labour Efficiency 6. Input Output Ratio 7. Capital Efficiency. Factor # 1. Size of Farm: There are two main sources which contribute to farm income, [...]
After reading this article you will learn about maintaining accounts of your farm business. Book-Keeping: In agricultural business management the role of farm records. Book keeping, maintaining accounts and analysis of the records of the farm is of immense importance because business should reveal what the entrepreneur has incurred as cost, what return is he getting and how much profit [...]