I. General Information
1. Course Title:
Integrating System Information for Financial Planning
2. Course Prefix & Number:
FBMT 2152
3. Course Credits and Contact Hours:
Credits: 4
4. Course Description:
This course uses farm system information to develop a farm financial plan. Interpretation and analysis of the farm system data will enhance the reliability of the farm plan. The comprehensive farm plan will integrate historical trends, farm and personal goals, financial and enterprise performance of the farm business.
5. Placement Tests Required:
Accuplacer (specify test): |
No placement tests required |
Score: |
|
6. Prerequisite Courses:
FBMT 2152 - Integrating System Information for Financial Planning
There are no prerequisites for this course.
9. Co-requisite Courses:
FBMT 2152 - Integrating System Information for Financial Planning
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 |
Use the Farm Financial Scorecard to analyze the business. |
Utilize appropriate technology |
Refine accounting system by using software and computer as appropriate. |
2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of
the course:
- Incorporate a farm risk management plan;
- Develop farm business exit strategies;
- Develop an investment plan for retirement;
- Develop enterprise budgets by using trend data;
- Compare long-range farm business plan options;
- Review farm business, family and personal goals;
- Review financial plans as required by farm business needs;
- Develop a farm business needs assessment by investigating trend data;
- Analyze income statements;
- Identify individual enterprise performance;
- Incorporate individual enterprise performance into the farm business; and
- Modify farm business plan based on enterprise performance.
V. Topical Outline
Listed below are major areas of content typically covered in this course.
1. Lecture Sessions
1. Incorporate a farm risk management plan
- Students will demonstrate competence by doing the following:
- Incorporate a risk management plan into individual business
- Students will show understanding through the following:
- Complete a risk assessment
- Evaluate the risk position of the business
- Construct the plan
- Implement the plan
2. Develop farm business exit strategies
- Students will demonstrate competence by doing the following:
- Assemble a list of business exit strategies
- Students will show understanding through the following:
- Evaluate the sustainability of the business
- Identify a business exit strategy that aligns with business and personal goals
3. Develop an investment plan for retirement
- Students will demonstrate competence by doing the following:
- Develop an investment plan for retirement
- Students will show understanding through the following:
- Review the cash flow for the availability of investment funds
- Project fund balance requirements at retirement age
- Identify investment options
- Choose options that meet personal and financial goals
4. Develop enterprise budgets by using trend data
- Students will demonstrate competence by doing the following:
- Develop an enterprise budget using trend data
- Students will show understanding through the following:
- Review historical trend data
- Estimate current input price projections
- Estimate production potential
- Evaluate external market forces that could influence price volatility
- Develop the enterprise budgets
5. Compare long-range farm business plan options
- Students will demonstrate competence by doing the following:
- Compare long-range business plan options
- Students will show understanding through the following:
- Identify scenarios to compare
- Review current business performance
- Incorporate historical trend data
- Develop long range business plan projections
6. Review farm business, family, and personal goals
- Students will demonstrate competence by doing the following:
- Refine business, family, and personal goal
- Students will show understanding through the following:
- Verify performance of past goals
- Confirm that business, family, and personal goals are aligned with present and future needs
7. Review financial plans as required by farm business needs
- Students will demonstrate competence by doing the following:
- Modify financial plans as required by business needs
- Students will show understanding through the following:
- Assess current business financial needs
- Verify cash flow projections will meet business financial needs
- Verify credit availability will meet business financial need
8. Develop a farm business needs assessment by investigating trend data
- Students will demonstrate competence by doing the following:
- Assess strengths of the business based on trend data
- Assess weaknesses of the business based on trend data
- Develop a business needs assessment based on strengths/weaknesses of the business
9. Analyze income statements
- Students will demonstrate competence by doing the following:
- Analyze income statements
- Students will show understanding through the following:
- Review past business income statements trends
- Assess business performance based on income statements
- Compare business plan projections to past income statements
10. Identify individual enterprise performance
11. Incorporate individual enterprise performance into the farm business
12. Modify farm business plan based on enterprise performance