AGRIBUSINESS MANAGEMENT

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AGRIBUSINESS MANAGEMENT

• Record Keeping

Original PowerPoint Created byRobert
Mailand Modified by Georgia Agricultural
Education Curriculum OfficeJune, 2002
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WHY KEEP RECORDS?

• TAXES
• MAKE BUSINESS DECISIONS

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KINDS OF BUSINESS RECORDS

• CASH SYSTEM
• ACCRUAL SYSTEM
• SINGLE ENTRY
• DOUBLE ENTRY
• ENTERPRISE

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RECORDS ALLOW YOU TO

• ALLOW YOU TO BUDGET SWAG OF INCOME
• TALK TO LENDERS
• PLAN FOR THE FUTHURE
• MAKE SHORT RUN DECISIONS

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WHAT ARE THE PARTS OF OUR RECORDS PROBLEMS?

• INVENTORIES
• ACCOUNTS PAYABLE
• ACCOUNTS RECEIVABLE
• INCOME JOURNAL
• EXPENSE JOURNAL

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WHAT ARE THE PARTS OF OUR RECORDS PROBLEM?

• PROFIT\LOSS STATEMENT
• BALANCE SHEET
• NETWORTH
• CHECK BOOK RECONCILIATION