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Module 6 PDF

Farmers maintain records for several important reasons: to report income and expenses for tax purposes, to help with decision making, and to comply with regulations. Effective record keeping depends on thoroughly and accurately tracking all expenses and income in a timely manner, whether using paper ledgers, software, or other methods. Crop and livestock production records monitor activities and performance over time to optimize yields. Machinery records also track fixed assets and determine replacement needs based on depreciation or usage.

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230 views9 pages

Module 6 PDF

Farmers maintain records for several important reasons: to report income and expenses for tax purposes, to help with decision making, and to comply with regulations. Effective record keeping depends on thoroughly and accurately tracking all expenses and income in a timely manner, whether using paper ledgers, software, or other methods. Crop and livestock production records monitor activities and performance over time to optimize yields. Machinery records also track fixed assets and determine replacement needs based on depreciation or usage.

Uploaded by

sheynie penalosa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MODULE 6

PREPARATION OF PRODUCTION REPORT AND


MONITORING INPUTS AND PRODUCTION

Record-keeping is an important and necessary aspect of


operating even the smallest farming enterprise.
Producers maintain records for several reasons:
• to provide proof of income and expenses to the Internal
Revenue Service and NC Department of Revenue;
• to use as a decision-making tool;
• to demonstrate compliance with environmental
regulations; to obtain and maintain financing.

Efficient and profitable farm operations depend upon


thorough and accurate record-keeping. Producers may prefer
to maintain hand-written records using a ledger book or similar
record-keeping tool, or they may take advantage of inexpensive
bookkeeping software available to small business. Regardless of
the methodology used, the best system is the one in which all
expenses and income is recorded in a timely and accurate
manner.

Monitoring crop growth and performance


The monitoring of crop growth and performance during
developmental stages is an important aspect of agricultural
management. It enables the farmer to implement timely
interventions that ensure optimal yields at the end of the
season.
Stress factors often prevent crops from developing at the rate
they are capable of. Examples include:

• Poor water availability (e.g., due to in-season drought)


• Extreme temperatures (heat)
• Competition among plants for sunlight, nutrients, water or
space
• Nutrient deficiency (e.g., artificial fertilizer or manure)
• Uncontrolled use of chemicals (toxicity)
• Fungal, bacterial or viral infection
• Attack from insects or other organisms, above or below
the ground
• Some of the above arise from shortcomings in labor
investment on the plot

Classification of Farm Records


Physical – it contains information on farm productivity,
like the records on crop production, livestock production, farm
machinery and equipment. They provide data which will later
on become part of the financial records under the account
heading Inventory.
1. Crop production record – this is maintained mainly to
monitor crop production activities. It gives the name of the
crop being cultivated, the date of planting, the allotted area,
the time to harvest and the actual volume of production at
harvest time and its worth in pesos.

CROP PRODUCTION RECORD

Crop Area Date Volume of Value


(Ha.) Production (Php)
Planted Harvested

Rice 1.0 06-05-07 10-02-07 100 cavans 40,000.00

Peanut

Corn

Eggplant

2. Livestock and poultry production records - production


record for livestock largely differs from that of crops. In swine
for example, both weanlings and fattening hogs are the main
products, breeding animals will have individual records. This
will allow the farmer to keep track of the performance of each
breeder, and of the farm as a whole in terms of production.

SWINE PRODUCTION RECORD


Sow No.: _____ Source: _______
Date of Birth: _____ Breed: _______

Date Date No. of No. of Piglet No. Remarks


Breed Piglets piglets Mortality
Sold
at at
Farrowed
Birth weaning

3. Machinery and equipment record -this record yields data on


the items of fixed investments which are available and
serviceable in the farm. It also gives information on the time for
possible replacement as indicated by its depreciation value or
the number of years of use.
MACHINERY AND EQUIPMENT RECORD
Year Ending: JANUARY 31, 2019

Item Date Acquisition Expected Beginning Annual Ending


Cost Useful Life Inventory Depreciation Inventory
(Years)
Acquired
ASSESSMENT

GENERAL INSTRUCTIONS
➢ Use yellow pad paper
➢ Write your name, Grade and Section and Date

IDENTIFICATION
_________1. It gives the name of the crop being cultivated, the
date of planting, the allotted area, the time to harvest and the
actual volume of production at harvest time and its worth in
pesos.
_________2. It contains information on farm productivity, like
the records on crop production, livestock production, farm
machinery and equipment.
________3. This record yields data on the items of fixed
investments which are available and serviceable in the farm.
________4. This will allow the farmer to keep track of the
performance of each breeder, and of the farm as a whole in
terms of production.
________5. This is maintained mainly to monitor crop
production activities.
________6. It gives information on the time for possible
replacement as indicated by its depreciation value or the
number of years of use.
_______7. Production record for livestock largely differs from
that of crops.

ENUMERATION
8-10. What are the 3 several reasons that the producers
maintain to record?
ANSWER KEY

1. CROP PRODUCTION RECORD


2. PHYSICAL
3. MACHINERY & EQUIPMENT RECORD
4. LIVESTOCK & POULTRY PRODUCTION RECORDS
5. CROP PRODUCTION RECORD
6. MACHINERY & EQUIPMENT RECORD
7. LIVESTOCK & POULTRY PRODUCTION RECORDS

8-10.

• to provide proof of income and expenses to the Internal Revenue Service and NC Department of
Revenue;
• to use as a decision-making tool;
• to demonstrate compliance with environmental regulations; to obtain and maintain financing.

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