Farm Accounts

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SPECIFIC OUTCOMES COVERED IN THIS LEARNER GUIDE:
When you have completed this module, you will be able to:
SPECIFIC OUTCOME 1
Understand the reasons for the Profit and Loss Account as well as the analysis of the account with
examples.
SPECIFIC OUTCOME 2
Understand the importance records for the Profit and Loss Account such as the records of receipts,
payments and cash analysis.
SPECIFIC OUTCOME 3
The learner will understand the Livestock Trading Account which is used as very good management
tool as well as the Livestock Adjustment used in the Profit and Loss Account.
SPECIFIC OUTCOME 4
Understand the principles of loans and redemption on loans.
SPECIFIC OUTCOME 5
The learner will be able to understand depreciation as well as calculate the rates of depreciation.
SPECIFIC OUTCOME 6
Understand the workings of the Balance Sheet, the analysis of the Balance Sheet and the Balance
Sheet ratios.
SPECIFIC OUTCOME 7
Understand the concept of return on capital which includes farm profitability, capital employed,
profitability ratios and capital gearing.
SPECIFIC OUTCOME 8
Understand and identify capital and the many sources of capital available to farmers.