Compose a 2000 words essay on Farm Resource Appraisal. Needs to be plagiarism free!Download file to see previous pages... Measurement of assets and liabilities of the farm give its clear financial sta

Compose a 2000 words essay on Farm Resource Appraisal. Needs to be plagiarism free!

Measurement of assets and liabilities of the farm give its clear financial standing which can help identify and solve farming issues. Data for appraisals can be collected from farm records, production and market research and from other consultant agencies. This information can be collected in the form of surveys and interviews. General physical and technical information has to be collected on the farm visit such as soil characteristic, climate and weather, land characteristics, production capacity, production technology and labor inputs. Soil characteristics encompass soil type, texture and soil analysis. Climate takes into account factors such as temperature, rainfall, humidity, droughts and hurricanes. Slope, topography and land elevation fall in land characteristics while yield per acre or hectare is covered in the productions capacity. Production technology accounts for the harvest and post-harvest operations, diesel control and fertilizers. Finally details of labor such as its source, distribution and gender are covered in the labor inputs. To prepare a farm resource appraisal, farm visit is necessary and along with the general physical and technical information, farm records and accounts information is also necessary. It can help farmers manage the farm properly since farm records and accounts can assist in measuring economic performance, meeting legal requirements etc. Moreover, operational records serve as a key factor in managing everyday activities of the farm. Financial records on the other hand can be used to evaluate the farm and for tax purposes. Some of the operational records are the farm map, field material input record, labor records and livestock records, income records and farm expense records. Balance sheet, on the other hand is the most commonly used financial record. It states the assets and their sources of financing. It is primarily used for taxation purposes. The farm map should be relative to the scale and must highlight field and other major areas of the farm. Field material input record provides information on material inputs such as fertilizers and seeds. Labor records gauge the workers-days per task information. Livestock records provide the information related to keeping livestock. Lastly, revenue and cost are covered in income and farm expenditure record. Sample records (Food and Agriculture Organization of the United Nations 2006) of field material input, labor, income and expenditure have been presented below for better understanding. Field Material Input Record (figure 1) Area Planted: Date Input Quantity Price per unit Value &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. Total &nbsp. &nbsp. &nbsp. &nbsp. Labor Record (figure 2) Area Planted: Date Task Persons/ task Hired Value (labor days) &nbsp. &nbsp. &nbsp. No./ day Cost/ day Value &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. Total &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. Income Record (figure 3) Area Planted: Date Product Sold Stored &nbsp. &nbsp. Quantity Price/unit Value $ &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. Total &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. Farm Expenditure Record (figure 4) Area Planted: Date Item Quantity Price / Unit Value &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. &nbsp. Total &nbsp. &nbsp. &nbsp. &nbsp. Farm Inventory The next step is the farm inventory count, recording resources and methods of valuation.