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AGRIBUSINESS MANAGEMENT

AGRIBUSINESS MANAGEMENT. Original PowerPoint Created by Robert Mailand Modified by Georgia Agricultural Education Curriculum Office June, 2002. Record Keeping. WHY KEEP RECORDS?. TAXES MAKE BUSINESS DECISIONS. KINDS OF BUSINESS RECORDS. CASH SYSTEM ACCRUAL SYSTEM SINGLE ENTRY

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AGRIBUSINESS MANAGEMENT

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  1. AGRIBUSINESS MANAGEMENT Original PowerPoint Created byRobert Mailand Modified by Georgia Agricultural Education Curriculum OfficeJune, 2002 Record Keeping

  2. WHY KEEP RECORDS? • TAXES • MAKE BUSINESS DECISIONS

  3. KINDS OF BUSINESS RECORDS • CASH SYSTEM • ACCRUAL SYSTEM • SINGLE ENTRY • DOUBLE ENTRY • ENTERPRISE

  4. RECORDS ALLOW YOU TO • ALLOW YOU TO BUDGET SWAG OF INCOME • TALK TO LENDERS • PLAN FOR THE FUTHURE • MAKE SHORT RUN DECISIONS

  5. WHAT ARE THE PARTS OF OUR RECORDS PROBLEMS? • INVENTORIES • ACCOUNTS PAYABLE • ACCOUNTS RECEIVABLE • INCOME JOURNAL • EXPENSE JOURNAL

  6. WHAT ARE THE PARTS OF OUR RECORDS PROBLEM? • PROFIT\LOSS STATEMENT • BALANCE SHEET • NETWORTH • CHECK BOOK RECONCILIATION

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