Course Covers:
- Financial records of the farm
- The Profit and Loss Account and Balance Sheet
- The Livestock Trading Account
- Depreciation
- Interest on and redemption of loans
- Types and sources of capital
Course Outcomes:
Outcome 1: Profit and Loss Account
Understand the reasons for and analysis of the Profit and Loss Account with examples.
Outcome 2: Record-Keeping for Profit and Loss
Understand the importance of records for the Profit and Loss Account, including receipts, payments, and cash analysis.
Outcome 3: Livestock Trading Account
Understand the Livestock Trading Account as a management tool and the Livestock Adjustment used in the Profit and Loss Account.
Outcome 4: Loans and Redemption
Understand the principles of loans and redemption on loans.
Outcome 5: Depreciation
Understand and calculate the rates of depreciation.
Outcome 6: Balance Sheet
Understand the workings of the Balance Sheet, including its analysis and ratios.
Outcome 7: Return on Capital
Understand the concept of return on capital, farm profitability, capital employed, profitability ratios, and capital gearing.
Outcome 8: Types and Sources of Capital
Understand and identify the types and sources of capital available to farmers.
Outcome 9: Financial Statements Preparation
Complete Profit and Loss Accounts and Balance Sheets from various examples.
Outcome 10: Financial Analysis
Analyse the Profit and Loss Account and the Balance Sheet for various examples using financial ratios.