FBMT 1121 Preparation for Farm Business Analysis
Course Information
| Course Number | FBMT 1121 |
|---|---|
| Course Title | Preparation for Farm Business Analysis |
| Description | This course will take the student through a step-by-step procedure to close out a complete year of farm business records. This course will emphasize tax planning, completing inputs to livestock and crop enterprises, and emphasizing cash and liabilities accuracy. A completed business and enterprise analysis will be the course focus. (Prerequisites: None) |
| Total Credits | 4 |
| Total Hours | 16 |
| Instruction Type | Credits and Hours |
|---|---|
| Individualized | 4 Credits, 16 Hours |
Pre/Corequisites
None
Institutional Core Competencies
- Critical and Creative Thinking - Students will be able to demonstrate purposeful thinking with the goal of using a creative process for developing and building upon ideas and/or the goal of using a critical process for the analyzing and evaluating of ideas.
Course Competencies
- Identify credits and deductions for tax management.
- Identify the data necessary to complete a business analysis.
- Examine the compatibility of new technology with existing systems.
- Compare the sources, pricing, and performance of business and production inputs.
- Employ a detailed record system.
- Draft family, business and personal goals.
- Monitor cash flow by comparing actual vs. planned.
- Explain how the farm management cycle pertains to your farm business.
- Recognize the implications of asset valuation and depreciation.
- Construct a detailed year-end balance sheet.
- Construct a tax management plan.
- Assemble accurate production records.
SCC Accessibility Statement
South Central College strives to make all learning experiences as accessible as possible. If you have a disability and need accommodations for access to this class, contact the Academic Support Center to request and discuss accommodations.
North Mankato: Room B-132, (507) 389-7222; Faribault: Room A-116, (507) 332-7222.
Additional information and forms can be found at: southcentral.edu/disability
This material can be made available in alternative formats by contacting the Academic Support Center at 507-389-7222.