Explanation should include
- types of records
- financial records
- production records
- the importance of record keeping
- Internal Revenue Service (IRS) (e.g., proof of income, expenses, inventory, and depreciation on tax returns)
- decision-aids
- balance sheets
- cash flow statements
- income statements
- institutional requirements
- environmental regulations
- selecting an applicable record-keeping system
- comparing paper and digital record-keeping systems
- importance of analyzing the agricultural enterprise’s records
- creating a production record-keeping system using computer software
- evaluating the enterprise using financial and production records.
Process/Skill Questions:
- What could be some of the consequences of not maintaining records for an animal enterprise?
- What are some of the record-keeping categories for health, breeding, and production?
- What systems are available to assist producers in maintaining records?