Classwork Series and Exercises {Agricultural Science – SS1}: Farm Records

WEEK 6

Agricultural Science. S.S.S 1 Third Term

TOPIC: Farm Records

Content

Farm records are written account of work expenses and income in farming enterprises.

Types of Farm records

There are many records that needs to be kept in a farm,some of which are

Farm diary: This is a records of day to day records of everything that happens in a farm.
Farm inventory: A record of all asset owned by the farmers and the cash values of the item e.g land, equipment, crops in the farm and in storage.
Input records: This is a record of all the items in running the farm during the years, it’s used in calculating the farm profit
Production Records: A record of all items produced in the farm, it enables the farmers to know which projects are more profitable.
Labour Diary: This is a records of day to day work done on the farm,it’s uses to determine the work done, amount of labour expended and the cost at the end of each operation
Sales records: A records of all products sold by the farmer e.g eggs,yam,goat etc
Consumption records: A record of all farm product consumed by the farmer and his family

Importance of Farm records

Farm records enable the farmer to make proper return to the boards of internal revenue for correct tax assessment
It provides the farmers with the clear idea of how much money is coming in and how much it is wise to spend
It enables the farmers to know whether he is making profit or loss
It helps the farmer to obtain loans and subsides from government
It helps the farmers to make budgets and plan his business
It enables the farmers to make good management and decision

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