ACE3036 : Farm Management
- Offered for Year: 2018/19
- Module Leader(s): Dr Jeremy Robert Franks
- Lecturer: Dr Michael Wallace
- Owning School: Natural and Environmental Sciences
- Teaching Location: Newcastle City Campus
|Semester 1 Credit Value:||10|
|Semester 2 Credit Value:||10|
The module aims to
1. Develop a basic understanding of the principles of business management based on planning - control - monitoring - analysis - revision.
2 To develop the basic principles (taught in ACE2020) relating to the combination of resources to achieve efficient resource-use to develop a profitable farm business.
3 Teach the tools necessary to allow students to plan, control monitor, analyse and revise plans at the farm and enterprise level.
4 Develop an understanding of the factors which affect the efficient use of the principal fixed farm resources - land, labour, machinery and capital, and the role of enterpreneurship in creating profitable enterprise and farm businesses.
5. The use os workshops allow students to practise the use of various analytical tools (cash flow budgeting tools, partial and full farm budgets) to prepare enterprise and whole farm financial and management plans.
6. To develop the skills required to estimate the value of farm resources, and to be able to present in written form recommended valuations, financial and management plans and to compare and contrast alternative courses of action.
Outline Of Syllabus
1. Farm record lectures and workshops:
- enterprise records
- recording cash
- calculating profit
2. Forward Budgeting lectures and practicals:
- whole-farm profit budgets
- cash flow budgets
- partial budgetin
3. Valuation and depreciation lectures and workshops
4. Farm Planning
5. Accounts Analysis
6. Introduction to commercial farm management software involving accounts, budgeting and enterprise recording
7. Introduction to land tenure: tenancy agreements and rent assessment
8. Machinery planning, organisation and acquisition
9. Investment appraisal techniques
10. Personnel management; labour planning and organisation, and labour legislation
11. Farm finance: sources of farm finance.
12. Introduction to taxation: income tax, national insurance, capital taxation.
Teaching Rationale And Relationship
Lectures introduce the main concepts and principles of farm management (aims 1 and 2).
Lectures also introduce analytical tools that are used to monitor and control farm businesses and farm enterprises (aims 3 and 4).
In-class workshops allow students to practice the analytical tools that are taught in the lectures (aims 5). These workshops are undertaken as individual study and in small groups to help verbal communication of recommendations (aims 5 and 6).
The three main piece of assessed coursework allows students to use their imagination to construct an orriginal farm management tool (aims 4 and 5), to integrate enterprise husbandry knowledge within diverse farming systems (aims 2 and 6) and to understand the role of farm management and financial accounts in planning and control (aims 1, 2 and 6).
The format of resits will be determined by the Board of Examiners
|Case study||1||M||25||The accounts exercise gives students an opportunity to tabulate financial accounts from cash flow and other information (6 pages).|
|Case study||2||M||25||The tender for rental, an individual exercise, requires students to construct a farm plan and estimate a rent for a farm (6 pages).|
Assessment Rationale And Relationship
This is an applied subject in which techniques and concepts must be practised in problem-based assignment work. The micro-computing assessment (1 above) tests students understanding of analytical tools focused on enterprise and/or farm business management. The accounts exercise examines students understanding of lectures related to building a set of farm management and financial accounts to allow performance to be analysed and corrected (aims 4, 5 and 6). The tender for rental examines students understanding of tenure systems, the link between tenure and rental payments and their ability to estimate the value of farm resources and to present this understanding in written form (aims 5 and 6).