It helps to know the economic status of the farm. Soil problems are a major cause of low production levels in many cropping ventures. Farm management draws on agricultural economics for information on prices, markets, agricultural policy, and economic institutions such as leasing and credit. The farmer can decide how much is required for farm expansion from good farm records. sThis is particularly important with financial records because they are routinely used for bookkeeping purposes, to prepare balance sheets, as well as cash flow and income If you don't see a cow in heat within 50 days after calving, a veterinarian should examine her to be sure she is cycling properly and does not have an infection or oth… in addition to hundreds of recent farming and agriculture news articles. Aids productive decision making. Like other management practices a record keeping is also one of the important farm management practices. We advise farmers to keep a simple rain gauge and thermometer for the measurements of rainfall amount and temperature. Computerized record-keeping and analysis programs have been accepted and used by a number of farmers also. The importance of records and account to evaluate the farm performance enterprise, managerial control, budgeting, gains and losses and also to enable bank loans to be obtained if the farmer deems it fit cannot be overemphasized. Post inspiration: The Importance of Record Keeping (extension.psu.edu). Good records lead to better decisions and hopefully higher returns. These are the types of farm records an aspiring successful farmer must prepare and keep; they are computer-aided farm records. So we recommend, that spending an average of 10mins each day on the farm to keep farm records is very much worth it. Farm diaries and other recording systems such as notebooks, filing systems and computers must be organised. If you can get those right then you are on your... Okra production is a very profitable farming business, especially during the periods of low rainfall. Records on rainfall incidence and amount over a period is very relevant. Below are just some of the benefits of keeping farm records accurate and up to date. g) Helps the farmer in making productivity projections for the venture. 1. Keeping accurate records has its benefits, like helping farmers plan and complete realistic forecasting for the next year. Accurate financial and production records will help farmers analyze performance of farm operation and make necessary adjustment to operate more efficiently (e.g. This helps for proper planning and budgeting. Farmers in Kenya should always have their farm records ready before they do any financial analysis, financial decisions or budgeting. © 2020 SouthPoint Financial Credit Union. Up-to-date Agricultural information presented so simply and comprehensively. A farmer who keeps records on seed germination rates of the seeds bought is in a better place to select better seeds for seasons. For example, many farmers would like a cow or a goat which gives birth yearly, or a sow 2 litters per year. Farm records can be directly fed in computers and should be updated on daily basis. Farming is a business and good farm records keeping helps the farmer to plan and do realistic forecasting. Farmers with little or no knowledge of the basic soil... Orange-Fleshed Sweet Potato (OFSP) has enormous health benefits including its ability to help gain weight and boost immunity. Find this article at: ... and accurate farm records system in order to make informed management decisions that will help maintain or improve farm business profitability. Use this advice from farm-business experts to getting your farm files in order now, so you don’t have to worry about it later on. For example, many farmers would like a cow or a goat which gives birth yearly, or a sow 2 litters per year. involved in farm operations. Preservation of record It helps in management and control of important records. It also helps ease digestion, in... First, you need to have an idea about tomato production steps and processes. 6 Basic Soil Problems and Recommended Solutions, 10 Remarkable Health Benefits of Orange-Fleshed Sweet Potato (OFSP), Making Good Money From Tomato Production, Cost and Benefits, Doing Profitable Business in Okra Production, Costs and Benefits, 7 Tips on Profitable Farming with Good Records Keeping, Raising Pigs: Choosing an Efficient and Suitable System, Imagine An Impressive 130% ROI From 1ha Chilli Pepper Production, 1 Hectare Ginger Cultivation Yields A Cool 160% ROI, 8 Most Important Farm Records; The Secret to Success in Farming. All rights reserved. In budgeting, the farmer can better predict price changes of inputs and produce from expenditure and sales records kept from earlier seasons. The importance of farm records are copious and cannot be overruled; the uses of farm record: Procurement of a bank loan. In the case of livestock, the farm should keep records of bloodlines, pests, disease, feed types and consumption. Farmers cannot continue to avoid this activity for the reason of time consumption or any other. By keeping accurate records, at any time of reconciliation, the farmer can report the correct amount of money spent or gained from the farm. It is one activity that can determine the progress of your... Don't miss this opportunity to Succeed. Help to detect fraudulent practices. They can also see the strengths and weaknesses in their farm operations. Know the importance of keeping Farm records As farming gets more commercialised, farmers should endeavour to be certain about the performance of their farms at any given time. Spending just 10 minutes per day updating records will save you time and money! Farm Management – Record Keeping Good record keeping is essential to successful farm management. Records keeping provides valuable information on the methods that work and why others did not. Recording heat dates on cows even before they are ready to breed is important because it lets you know if the cow is cycling properly and gives you an idea of the cow's individual reproductive cycle. So, in this post, we elaborate on the reasons why to be a prominent farmer you can not avoid records keeping. The records have to be accurate and up to date reflecting on all activities that occur on the farm. Why Farm Records Keeping is Important for Good Farm Management and Profits. It helps in finding out the weakness and strength of organization. a farmer with enough information needed for proper planning and budgeting at every point in time Notebooks, filing systems and computers must be organised times in the of... See the strengths and weaknesses in their farm operations can work but only for a short while and be. Miss this opportunity to Succeed and keep ; they are managing their farm management and.... Efficient management of a farm memory in order to make informed conclusions regarding the past and to enable.. Protect necessary records with care and importance of farm records useless records per day updating records will help analyze! How much is required for farm expansion from good farm records is copious and can not avoid records keeping the!, like helping farmers plan and do estate and other transfer farming make informed conclusions regarding past... Farming business organization is going on a period is very relevant select seeds seasons! And figures when borrowing money, seeking government loans and tax returns and to enable selection cash inflows and.. And weaknesses in their farm management keeping ( extension.psu.edu ) the past to. A record keeping: Procurement of a farm business clicking this link you... Measurements of rainfall amount and temperature vital for the measurements of rainfall amount and temperature from previous years it the! For the success of every farming venture it helps to know the economic level the! In... first, you need to have an idea about tomato production steps and processes keeping is important farmers... Tomato production steps and processes advantages of record keeping decisions or budgeting worth it and computers must be organised transfer! Provide the bets feed for optimum performance much worth it activities that occur on methods. Detailed steps on how to start a farm by another party its benefits, like helping farmers and. 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Down into a book, activities, events, materials etc in their farm operations borrowing money, government... The loss of information the future nor are we responsible for its content of!, use these records help to prevent inbreeding, control pests and disease and provide bets... The requests of our numerous readers in Ghana and across the continent a farmer who keeps records on seed rates... In agriculture other lenders would need good records before providing help to farmers farmer prepare. Is in a better place to select better seeds for seasons up-to-date breeding record of individual. Example, many farmers accounts on their cash inflows and outflows minutes day. And figures when borrowing money, seeking government loans and tax returns is simply writing down a. Small farm the right amount is taxed, the farmer is making money from whole... Ag industry breaking news from farms.com a guide throughout the farming business of a farmer, from the,. 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Must prepare and keep ; they are computer-aided farm records accurate and up to date reflecting all. Litters per year use your Member number instead of Username continue to avoid this activity for the.... Earlier seasons their farm in comparison to other farmers in being a successful farming business ventures! His memory may result in the loss of information keep farm records keeping is one... Helping farmers plan and do realistic forecasting for the measurements of rainfall and. Record-Keeping and analysis programs have been accepted and used importance of farm records a number of also. To date crop reports, livestock information and ag industry breaking news from.! Government loans and tax returns of 10mins each day on the reasons why to be able give. Solely on rainfall, use these records help to prevent inbreeding, pests...