I. General Information

1. Course Title:
Interpreting and Using Farm System Data

2. Course Prefix & Number:
FBMT 1132

3. Course Credits and Contact Hours:

Credits: 4

4. Course Description:

This course provides an opportunity for the student to view the farm business and its various components through the application of balance sheets, farm personal and managerial inventories, enterprise reports and historical data.

5. Placement Tests Required:

Accuplacer (specify test):

No placement tests required

Score:

6. Prerequisite Courses:

There are no prerequisites for this course.

9. Co-requisite Courses:

There are no corequisites for this course.

II. Transfer and Articulation

III. Course Purpose

1. Program-Applicable Courses – This course is required for the following program(s):

Essentials in Farm Business Management Certificate

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Demonstrate written communication skills	Student will compile a farm business plan
Discuss/compare characteristics of diverse cultures and environments	Student will evaluate current issues while creating a marketing plan

2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of the course:

• Construct a farm business plan;
• Create a marketing plan;
• Compare historical farm data to current performance;
• Identify key business ratios;
• Compare business profitability to benchmark data;
• Interpret current business projections;
• Revise business goals;
• Compare ownership options of capital assets within a business;
• Evaluate a farm risk management plan;
• Apply enterprise budgeting;
• Identify business plan templates; and
• Evaluate personal goals.

V. Topical Outline

Listed below are major areas of content typically covered in this course.

1. Lecture Sessions

1. Construct a farm business plan

• Students will demonstrate competence by doing the following:
  • Complete a farm business plan
• Students will show understanding through the following:
  • Plan includes mission, vision and value statements
  • Plan includes farm, personal, and family goals
  • Plan includes current plans (i.e. marketing, risk management, cash flow, labor, management)
  • Plan includes historical data

2. Create a marketing plan

• Students will demonstrate competence by doing the following:
  • Complete a commodity marketing plan
• Students will show understanding through the following:
  • Plan includes cost of production
  • Plan considers inventory management decisions
  • Plan considers global economics
  • Plan reflects on tax implications
  • Plan reflects on tax implications
  • Plan includes cash flow projections

3. Compare historical farm data to current performance

• Students will demonstrate competence by doing the following:
  • Present conclusions on current farm relative to trends
• Students will show understanding through the following:
  • Develop a current trend report
  • Utilize comparative trend data from an individual business analysis

4. Identify key business ratios

• Students will demonstrate competence by doing the following:
  • Compile a list of farm financial ratios
• Students will show understanding through the following:
  • Use completed analysis to identify financial ratios
  • Identify the key farm financial ratios and discuss with instructor
  • Indicate ratio positions to date for the farm business

5. Compare business profitability to benchmark data

• Students will demonstrate competence by doing the following:
  • Develop a worksheet comparing actual to benchmark data
• Students will show understanding through the following:
  • Complete a year-end analysis
  • Select appropriate benchmark data for a personal comparison
  • Identify areas of strengths and weaknesses compared to benchmark data

6. Interpret current business projections

• Students will demonstrate competence by doing the following:
  • Discuss interpretation of the cash flow projection with instructor
• Students will show understanding through the following:
  • Refer to the completed cash flow projection
  • Evaluate the projection
  • Interpretation is accurate and reasonable
  • Provide clear evidence for interpretation

7. Revise business goals

• Students will demonstrate competence by doing the following:
  • Provide evidence of progression towards personal, family, and business goals
• Students will show understanding through the following:
  • Update personal, family, and business goals
  • Evaluate individual progress towards goal objectives

8. Compare ownership options of capital assets within a business

• Students will demonstrate competence by doing the following:
  • Prepare a cost analysis for the capital asset(s)
• Students will show understanding through the following:
  • Create a cost analysis on a per unit basis
  • Demonstrate the ownership option is consistent with individual asset acquisition plan
  • Cost analysis includes a measure of constraints on other systems within the business

9. Evaluate a farm risk management plan

• Students will demonstrate competence by doing the following:
  • Develop an effective risk management plan
• Students will show understanding through the following:
  • Plan meets needs based on high priorities of risk
  • Plan allows for revision
  • Compare risk exposure to risk mitigation

10. Apply enterprise budgeting

• Students will demonstrate competence by doing the following:
  • Prepare a projection based on an enterprise budget data
• Students will show understanding through the following:
  • Gather current price information on projected production input needs
  • Consider historical data on a per unit basis in making a personal projection

11. Identify business plan templates

12. Evaluate personal goals