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:

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):

Name of Program(s)	Program Type
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:

1. ssemble data management system(s) to enhance the farm business analysis process;
2. Establish detailed data management systems;
3. Analyze enterprise budgets;
4. Compare current business projections with historical data;5. Manage labor and management resources;
5. Manage labor and management resources;
6. Evaluate impact of personal retirement plans on tax liability;
7. Measure profitability of new technology systems;
8. Demonstrate strategic decision-making skills;
9. Examine risk management practices;
10. Revise business goals;
11. Revise personal goals; and
12. 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. Evaluate impact of personal retirement plans on tax liability
• inventory current retirement accounts
• explore other retirement opportunities
• discuss the tax implications of retirement accounts
2. Refine data management system(s) to enhance the farm business analysis process
• review the performance of current accounting system
• utilize farm data to understand trends and develop goals
• utilize enterprise analysis to understand and evaluate the farm business
3. Compare current business projections with historical data
• 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
4. Analyze enterprise budgets
• review enterprise production trend history
• refine enterprise budgets to enhance accuracy
• utilize enterprise budgets in cash flow planning
5. Determine profitability of new technology systems
• examine current data on the feasibility of new technology (i.e.: auto-steer, feeding systems, GPS, etc.)
• examine the compatibility of the new technology with current system(s)
• develop long-range plans applying new technology
6. Manage labor and management resources
• develop a standard operating procedure for employee tasks
• assemble an employee handbook
• dedicate time for planning purposes
• identify management style (self assessment tool)
7. Establish detailed data management systems
• utilize current technology to enhance data management system
• investigate management systems available for application (field mapping, precision farming, etc.)
• assess your office management skillsD. adopt a data management and filing system that meets needs
• dedicate quality time to manage data system