I. General Information

1. Course Title:
Interpreting and Evaluating Financial Data

2. Course Prefix & Number:
FBMT 2141

3. Course Credits and Contact Hours:

Credits: 4

4. Course Description:

This course continues to expand on preparation and evaluation of the farm business analysis. This course provides continued guidance and perfection of business record close out procedures, tax implications of management decisions, and continues to monitor farm business and family goals.

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):

Applications in Farm Business Management Certificate

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Analyze and follow a sequence of operations	Complete a year-end records close-out.
Utilize appropriate technology	Complete a summary statement of all accounting categories.

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

• Assemble data management system(s) to enhance the farm business analysis process;
• Integrate detailed data management systems;
• Analyze enterprise budgets;
• Compare current business projections with historical data;
• Manage labor resources;
• Evaluate impact of personal retirement plans on tax liability;
• Evaluate profitability of new technology systems;
• Demonstrate strategic farm business management decision-making skills;
• Examine farm risk management practices;
• Revise farm business goals;
• Revise personal goals; and
• Revise enterprise budget to reflect a current market outlook and pricing. 

V. Topical Outline

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

1. Lecture Sessions

1. Assemble data management system(s) to enhance the farm business analysis process

• Students will demonstrate competence by doing the following:
  • Refine the data management system(s) to enhance the farm business analysis process
• Students will show understanding through the following:
  • Review the performance of your current accounting system
  • Utilize farm data to understand trends and develop goals
  • Utilize enterprise analysis to understand and evaluate the farm business

2. Integrate detailed data management systems

• Students will demonstrate competence by doing the following:
  • Establish a detailed data management system
• Students will show understanding through the following:
  • Utilize current technology to enhance individual data management system
  • Investigate management systems available for application (field mapping, precision farming, etc.)
  • Assess office management skills
  • Adopt a data management and filing system that meets individual needs
  • Dedicate quality time to manage individual data system

3. Analyze enterprise budgets

• Students will demonstrate competence by doing the following:
  • Analyze enterprise budgets
• Students will show understanding through the following:
  • Review enterprise production trend history
  • Refine enterprise budgets to enhance accuracy
  • Utilize enterprise budgets in cash flow planning

4. Compare current business projections with historical data

• Students will demonstrate competence by doing the following:
  • Compare current business projections with historical data and updating individual cost of production
• Students will show understanding through the following:
  • Review and analyze trends that help accomplish farm goals
  • Interpret and evaluate trend data for use in decision making
  • Use trend data to develop marketing strategies
  • Update individual cost of production

5. Manage labor resources

• Students will demonstrate competence by doing the following:
  • Manage labor and management resources
• Students will show understanding through the following:
  • Develop a standard operating procedure for employee tasks
  • Assemble an employee handbook
  • Dedicate time for planning purposes
  • Identify your management style (self-assessment tool)

6. Evaluate impact of personal retirement plans on tax liability

• Students will demonstrate competence by doing the following:
  • Evaluate the impact of personal retirement plans on tax liability
• Students will show understanding through the following:
  • Inventory current retirement accounts
  • Explore other retirement opportunities
  • Discuss the tax implications of retirement accounts

7. Evaluate profitability of new technology systems

• Students will demonstrate competence by doing the following:

8. Determine the profitability of a new technology system

• Students will show understanding through the following:
  • Examine current data on the feasibility of new technology (i.e. auto-steer, feeding systems, GPS)
  • Examine the compatibility of the new technology with current system(s) 
  • Develop long-range plans applying new technology
    • Demonstrate strategic farm business management decision-making skills
    • Examine farm risk management practices

9. Revise farm business goals

10. Revise personal goals

11. Revise enterprise budget to reflect a current market outlook and pricing