Secondary Engagement Programme

Christmas Term

Grade 10

Activity Sheets

Agricultural Science

MINISTRY OF EDUCATIONSECONDARY ENGAGEMENT PROGRAMME

NOVEMBER 2020 WEEK 9

LESSON # 2

GRADE :10

SUBJECT : AGRICULTURAL SCIENCE TOPIC : FARM RECORDSSUB TOPIC : RECORD KEEPING ON A FARM.Objectives

To understand the need for record keeping on a farm.

To prepare different types of farm record.

RECORD KEEPING

▶ A farm record is a document (in most cases a book) that is used to keep account of different activities, events, materials etc. regarding the farm operations.

▶ Record-keeping refers to keeping, filing, categorizing and maintaining farm financial and production information.

▶  The two main types of records are production record and financial record.▶ Record-keeping can be accomplished through a variety of methods, from a basic hand record-keeping

method to an elaborate computerized system.▶ The evaluation process allows a farm manager to make informed decisions based on actual (or projected)

farm performance.▶ Establishing and using an effective farm record-keeping system for an ongoing farm operation aids in farm

planning, informed decision-making and analysis of both production and financial records.

▶ Characteristics of Records

▶ Records should be;▶ - complete▶ - simple, useful, effective▶ - accurate▶ - easily interpreted▶ - easily accessible and retrievable ▶ - have space for notation.▶ - kept consistently▶ - with essential information▶ - easily done and kept▶ - kept for quick follow up action

▶ Importance of record keeping

▶ It may be a requirement▶ Lenders, government agencies, commercial banks, insurance companies and others often require

detailed and well-maintained records of the farm’s income and expenditure before giving out loans to farmers.

▶ Better farm planning and forecasting▶ Helps the farmer plan and do realistic forecasting. It provides valuable information on which methods

work. The farmer can better predict price changes of inputs and produce from expenditures and sales records kept from previous years.

▶ Track income and expenditure▶ By keeping accurate records, at any time of reconciliation, the farmer can report the correct amount

of money spent or gained from the farm. This helps for proper planning and budgeting.▶ Better management of a farm▶ Someone who keeps records on seed germination rates of seeds purchased is in a better position to

select seeds for seasons. In the case of livestock, the farm should keep records of bloodlines, pests, disease, feed types and consumption. These records help to prevent inbreeding, control pests and disease and provide the best feed for optimum performance.

▶ Reasons for Keeping Farm Records▶ Farm records are used to evaluate the performance of any farm or farm enterprise within a given period of time. ▶ Farm records will enable the farmer to know what each enterprise contributes to the overall progress of the farm.▶ Records are an aid to managerial control. A farmer can keep a close check on whether work on his/her farm is going

according to his/her plans.▶ Checks can be made on whether too much animal feed or too much seed is being used or whether crop and

livestock yields are falling.▶ It is important to detect where farm activities are going wrong quickly so that they can be put right before losses occur.▶ Farm records provide figures for farm planning and budgeting. ▶ A farmer making plans to modify any farming activities needs to know what yields can be expected from crops and

livestock and what costs and receipts are likely to be received.▶ Farm records tell a farmer how much is being earned.▶ Farm records tell a farmer where they are gaining progressively or losing.▶ Farm records enable the farmer to obtain loans from banks and other financial institutions.▶ Banks normally give loans if a farmer can produce adequate physical records with the corresponding accounting

records as well as the overall farm plan. ▶ This is necessary and beneficial to both the bank and the farmer for the good use of the loan which must be repaid

with interest.▶ It is the lack of accurate records in small scale farm production that makes it difficult for banks to extend credit facilities

to small-scale farmers.

▶ Types of record▶ Farm inventory Record▶ This is the record that shows lists of all items on the farm at a particular time. Records on farm equipment,

farming building, inputs, furniture, etc.▶ Additionally, the inventory record gives you an idea of the value and the current state of the items. This is

usually taken at the beginning and the end of the production year.▶ A good farm inventory record book can assist farmers to get a bank loan.

▶ Production record▶ As important as it is, this record shows the yield output of the farm. The tons of the yield of crops per season,

the number of eggs laid per day, the size of litter after farrow.▶ The yield records show the success rate of the farm and when taken for over a long period shows you the

trends of production and the productivity of the farm.

▶ Labour record

▶ Another important farm record is payroll and labour records. It shows the amount and types of labour hired or employed to work on the farm. Also, it shows the rate and wages paid. It contributes to farm accounting.

▶ Profit and loss record▶ The principal of all the important farm records is the profit and loss record. This shows the

economic level of the farming business. This record and quite common with farmers. However, all the other records are required to come up with this record. This profit and loss record is usually prepared at the end of the year to know if the business is profitable or not.

▶ Analyzing the records

▶ Many farmers cannot list the inputs and associated costs that they have used in production. ▶ The inability to recall or record what went where or how much was spent on production operations is the

first sign of trouble. ▶ Simple record keeping provides the solution to most of the problems farmers face during production.▶ Decision making can be enhanced by examining both production and financial records and their impact

on profitability. ▶ The income and expense records can quickly show how a farm business stands on a cash basis, in a

week, month or during any period desired. ▶ Good records can lead to better decisions.

REFERENCESS. Ragoonanan, agriculture for C.S.E.C revision course. Caribbean educational publishers.R. Ramharacksingh, agricultural science for C.S.E.C examinations macmillan publishers.Agricultural Science for Secondary School Book 2

Internethttps://www.Southpointfinancial.Com/the-importance-of-keeping-farm-records-in-agricultural-production/#:https://youfarmzim.wordpress.com/2018/08/23/the-importance-of-good-farm-record-keeping/https://blog.agrihomegh.com/important-farm-records/Video Link https://www.youtube.com/watch?v=6PmA-pwos4chttps://www.youtube.com/watch?v=NS6d_XoLPNM

▶ Review questions▶ 1.Explain to your teacher how rural farmers keep records.▶ 2. Differentiate between financial records and production records.▶ 3. Discuss three reasons for keeping records.▶ 4. Explain three characteristics of keeping a good farm record.▶ 5.Discuss the uses of production records.