-keeping farm records is an important part in farming. The records have to be accurate and up to date reflecting on all activities that occur on the farm.
-Farmers in Kenya should always have their farm records ready before they do any financial analysis, financial decisions or budgeting.
-Farmers in Kenya should always have their farm records ready before they do any financial analysis, financial decisions or budgeting.
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| A farm record sample |
-Investors who operate without records are likely to make wrong decisions due to lack of information of what is happening in their farms. The best sources of information needed to advice on proper running of any agricultural investments are properly designed and kept farm records.
1.What is record?
-Record is information that has been systematically and carefully collected and appropriately stored for intended use. To be able to run any business successfully, carefully thought out, properly collected and kept records are a must.
-For the purpose of keeping track and decision making in any business, comprehensive and well kept records must be kept.
-For the purpose of keeping track and decision making in any business, comprehensive and well kept records must be kept.
2.The records will;
-Be used in Determining profitability of various techniques of production or systems.
-Be used to compare the efficiency of use of inputs, such as land, labour and capital, with that of alternative production activities.
-Help the investor in improving the efficiency of farm’s operations.
-Be used to preserve institutional memory of the enterprise for future reference.
-Be used to compare the efficiency of use of inputs, such as land, labour and capital, with that of alternative production activities.
-Help the investor in improving the efficiency of farm’s operations.
-Be used to preserve institutional memory of the enterprise for future reference.
3.Good records will, for example;
-Be useful in projection of expected production.
-Be useful in determining the amount of inputs requirements for various stages of production.
-Be useful determine the expected harvesting time.
-Determine the financial health of the enterprise.
-Be useful in determining the amount of inputs requirements for various stages of production.
-Be useful determine the expected harvesting time.
-Determine the financial health of the enterprise.
4.Level of record keeping - How much and how comprehensive kept records are, is dependent on;
-Level of investment - Complex investments require complex records.
-Motivation of investor - Serious investors will have more comprehensive records.
-Level of agricultural management - Intensive operations will have more complex records as compared to semi intensive operations.
-Skills of the investor (Or manager) - Well trained managers will keep better records. As the management levels rises, culture systems become more complex and so is the record keeping.
-Motivation of investor - Serious investors will have more comprehensive records.
-Level of agricultural management - Intensive operations will have more complex records as compared to semi intensive operations.
-Skills of the investor (Or manager) - Well trained managers will keep better records. As the management levels rises, culture systems become more complex and so is the record keeping.
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