Farm Budget Template
The Function of Farm Budget
Setting up a farm can be quite a big process. Beside location, the selection of plants to be planted, the animals to be bred, and budget is the most important thing to consider. Today we are going to discuss the financial part. Yes, farm budget.
Farm budget can be referred to as the budget prepared for a farm as a whole. The complete farm budgeting includes considering the money to be spent on crops, livestock, production method and marketing aspect. Farm budget is constructed in a combination of both expenses will be spent and the estimated revenues for the farm. Farm budget can be prepared for annual time schedules or for longer run.
Sample of Farm Budget :
Farm budgeting has many advantages such as:
- It will evaluate the old plan and guide farmers to adopt new methods in farming
- It will allow farmers to conscious of the leakage of the money in the farm business
- It will give farmers comparative studies of earnings, expenses and receipts on various farms in the surrounding area which may lead to creating national farming policies
- It will guide and encourage farmers to use the most efficient and effective way of using resources
- It will serve as a valuable foundation for improvements in farm management practices
Farm Budget Template | word – download