FMA-20806 Financial Management in Agriculture

Course

Credits 6.00

Mandatory knowledge:

English

Assumed knowledge on:

Introduction to Business Economics (FMA-10304) or equivalent

Continuation courses:

FMA- 30304 Advanced Agricultural Business Economics; FMA- 90304 Economics of Plant Health and Food Safety; FMA- 90804 Economics of Animal Health and Food Safety

Contents:

This course gives an overview and insight in the economics of the farm business, with a focus on financial management and accounting. Like corporate managers, farm managers continuously have to make decisions and control their business. There is a need to adapt their business to the current external environment and to anticipate future internal and external developments. For this purpose farm managers need reliable financial data based on a well defined accounting system, a good analysis of these data and information for decision making. Also stakeholders like banks, suppliers, government etc. have interest in reliable data and information from farms. This course deals with the financial management and accounting of the farm business both from the perspective of the farm manager and the other stakeholders.

Aims:

At the end of the course students:
- know the different concepts and tools in financial management and accounting of the farm business;
- are able to apply these concepts and tools under different perspectives and problem areas.

Activities:

The course includes lectures, practicals and computer practicals.

Examination:

Written exam.

Literature:

- Barry, P.J. (2000). Financial management in agriculture; 6th edition, Danville, Illinois, Interstate Publishers.
- A reader with additional study material, handouts and practical exercises.
All the study material including the book will be for sale at the Farm Management Group.