FMT4 016. Budgeting and Administration (152-VSR-MC).

The objectives of this course are to produce, interpret and understand all of the budgets necessary for the operations of an agricultural business. These budgets include whole farm budgets, partial budgets, enterprise budgets, investment budgets and cash flow budgets. Exploration of basic concepts of financial management and the concepts of credit, time value of money and loan structure. An introduction to macroeconomic concepts will be delivered through the notion of exchange rates, unemployment, and economic cycles. Finally, activities geared toward the development of a business plan and strategic analysis of the business will be covered.