MUNFORD "BIG BOLL" FFA
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Ag Business & Finance

Course Standards

History and Evolution of Agribusiness

1) Explore the evolution of agribusiness in the United States by describing the modern

agribusiness sectors and identifying historical milestones impacting their development.

Using local job postings and labor and workforce data, research occupations in agribusiness

and management, and identify the knowledge, skills, and abilities necessary for

employment.

2) Write an informative essay that compares and contrasts different business and ownership

models of agribusinesses (such as proprietorships, partnerships, corporations, limited

liability companies, franchises, and cooperatives). Include the scope, economic impact, and

future trends of a specific type of agribusiness locally, regionally, nationally, and globally,

citing specific evidence from news articles or government publications.

3) Demonstrate the ability to prepare basic personal and business records to complete taxes,

employment and SAE related applications, including resume, budgets, income statements,

balance sheets, cash flow statements, profit and loss statements, and equity statements.

Saving, Investing, and Financing

4) Examine different forms of saving, investing, and financing by researching available financial

services at banks, credit unions, and savings and loans. Justify a selected financial service

option for a specific personal and/or agribusiness use by developing a claim and supporting

it with reasoning and evidence pulled from the financial institution.)

5) Apply principles of consumer finance, savings, investing, and loans to develop personal and

agribusiness budgets.

6) Using visual representations and mathematical equations, compare and contrast the

differences between personal, business, and farm financing, including but not limited to

sources, terms, and available risk management strategies (such as insurance, investments,

and commodity trading). Using quantitative reasoning and appropriate units, calculate simple and compound interest for a given financing option.

Recordkeeping and Accounting

7) Articulate the components of a business plan, and research exemplars from national or local

companies. Demonstrate the ability to prepare basic personal and business records,

including budgets, income statements, balance sheets, cash flow statements, profit and loss

statements, and equity statements.

8) Differentiate between bookkeeping and accounting. Justify the need for organized

recordkeeping processes as an integral part of a comprehensive management system.

9) Apply fundamental principles of financial recordkeeping to agribusiness planning, logistics,

and operations, including at a minimum the following:

a. Differentiating between fixed and variable costs

b. Determining pricing methods

c. Using general ledger and basic accounting principles (accrual vs. cash basis)

d. Calculating depreciation

e. Estimating simple and compound interest

10) Consult technical texts to research and generate connections regarding the relationships

between depreciation, taxation, and insurance.

Consumer Finance

11) Craft an argumentative essay that makes a claim about the importance of a specific

responsible personal finance practice in agribusiness. Develop claim(s) and counterclaim(s)

fairly with reasoning and evidence about the factors impacting credit and income. Include

basic financial management and financial security tips.

12) Examine essential principles of consumer finance by summarizing common banking

procedures and services, including establishment of personal and operating accounts.

Compare and contrast costs and benefits of financial services based on personal

characteristics, wealth, debt, and risk management.

Economics of Agribusiness

13) Explain how economic principles apply to agribusiness, including macro versus micro

systems, factors and effects of competition, inflation, pricing, and supply and demand

relationships.

14) Analyze the role of government in setting monetary, fiscal, and taxation policies that affect

the operations of agriculture businesses, including the sale of farm commodities. Investigate

specific crops and discuss how economic policies set by the government impact the pricing

and sale of a commodity, citing evidence from legislation and news articles. Determine the

impact such policies have on consumers and producers.

15) Assess the global impact of American commodities on world food markets. Select a

commodity produced in America and research foreign trade laws governing its sale. Make a

claim about how these laws affect supply and demand in world economies, developing claim(s) and counterclaim(s) with reasoning and evidence from governmental agencies, nonprofits,

and news articles.

Business Planning and Management

16) Assess the importance of entrepreneurship in society. Differentiate between characteristics

of successful and unsuccessful entrepreneurial endeavors. Evaluate methods for identifying

opportunities in entrepreneurship and outline the major steps in starting an agribusiness.

17) Develop and present a comprehensive business plan for an agriculture-related business.

Address at minimum the following components: type of agricultural ventures, projected

profits, expenses, margins, returns on investment, and facilities and equipment needs.

18) Analyze case studies to illuminate the specific challenges of running an agriculture-related

business. Determine the role that effective managerial skills play in an agribusiness venture

to hypothesize the appropriate managerial skills for a variety of operational issues.

19) Summarize the history of agriculture-related policy development at the state and national

levels. Research and identify major regulatory agencies and outline the principle policies

governing modern agribusinesses, citing evidence from specific legislation. Compose an

argumentative essay to make a claim supporting or opposing a specific government

regulation in agriculture.

 

 

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