I. General Information

1. Course Title:
Directed Studies - Current Issues in Farm Business Management

2. Course Prefix & Number:
FBMA 2223

3. Course Credits and Contact Hours:

Credits - Variable: 1-5

4. Course Description:

This course is designed to assist students further develop their skills in business management. It provides an opportunity for students to maintain the financial and enterprise data base, to generate financial statements, business analyses, and financial projections required for risk management planning, strategic management planning, and farm business plan development. This data also provides the basis for commodity market planning and tax management planning. Emphasis is placed on the development and maintenance of farm business data, reports, and plans. Student and instructor will determine number of credits between one to five and determine current issue(s) topic based on student’s need.

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):

Current Issues 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	Identify key area(s) of concern with cost of production with selected enterprise
Apply ethical principles in decision-making	Include a discussion of environmental issues in business plan development

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

• Identify the current issue(s);
• Define related terminology;
• Explain concepts of identified current issue(s);
• Apply current issue(s) to business;
• Analyze the effects of current issue(s) on your business;
• Identify steps of the implementation plan;
• Analyze historic data and/or rationale of changes;
• Identify strengths and weaknesses of business;
• Develop strategic plans or goals related to issue(s);
• Develop tax management plan related to issue(s);
• Maintain current accurate farm business records and accounts;
• Develop short term implementation plan;
• Develop long term implementation plan;
• Analyze current financial statement to determine feasibility; and
• Predict the effects of the current issue(s) to financial statements.

V. Topical Outline

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

1. Lecture Sessions

1. Gather individual business and benchmarking data for developing business and personal goals 

• Assess business need(s) using farm business analysis data 
• Select the key area(s) of the business to target efforts 
• Research publications and other sources of pertinent data 
• Compare with individual, regional, state, and/or special sort business analysis data 
• Develop updated business and personal goals related to key area(s) 

2. Monitor and review all farm plans 

• Monitor existing plans to assess potential change(s) related to new area(s) 
• Evaluate updated goal(s) for addition to current farm plan(s) 
• Compare updated goal(s) for consistency with farm mission and vision 
• Adjust statements as needed for inclusion in the farm plan(s) 

3. Research data and evaluate alternatives for new or revised plans 

• Assess new information to the farm plan for potential alternative(s) as needed 
• Gather new data in support of alternative(s) for consideration 
• Incorporate business analysis data with decisions to support alternative(s) 
• Record findings 
• Evaluate alternative(s) 

4. Develop framework for revised farm plans that meet current business needs 

• Specify modification(s) to the plan as needed, based on findings 
• Develop a process for incorporation of modification(s) in a revised plan(s) 
• Modify current plan(s) as needed to adjust for new goal(s) 
• Develop evaluation and monitoring guidelines for the revised plan(s) 
• Implement the revised plan(s)