Record Keeping Analysis

1
Record Keeping Analysis

• What is it?
• Why do we do it?
• How is it done?

2
What is a Record Keeping Analysis?

• A process by which an individual carefully
  examines his/her financial records to determine
  the profitability and efficiency of his/her
  agricultural operations.
• A Record Keeping Analysis can also be performed
  on placement, agriscience research and other
  types of SAE records. (more later)

3
Why Conduct a Record Keeping Analysis?

• To determine if the enterprise is making or
  losing money
• The profits or losses of each type of
  agricultural enterprise (wheat, lawn care
  service, cotton, sheep, swine, vegetables, etc.)
  conducted by the student are examined.
• If money is being lost on an enterprise or the
  profit level is minimal, the student may want to
  reconsider this as their SAE.

4
Why Conduct a Record Keeping Analysis?

• To see how each enterprise compares with other
  enterprises being conducted
• If one type of enterprise is substantially more
  profitable than another, the student may want to
  consider making some changes in the total SAE
  program.

5
Why Conduct a Record Keeping Analysis?

• To see how the enterprise compares to community
  or state averages
• There are state or community averages for most
  agricultural crops
• Pigs weaned per litter
• Milk produced per cow
• Crop yields per acre
• Average daily gain
• Cost per acre

6
Comparison

• The student should compare his/her production
  results with the community or state averages
• If the results are below the average, then he or
  she should figure out what production changes are
  needed.

7
Why Conduct a Record Keeping Analysis?

• To determine if management changes are needed
• If an enterprise is losing money while others are
  making money on the same type of enterprise, this
  may indicate that management changes are needed.

8
Why Conduct a Record Keeping Analysis?

• To maximize profits by making needed changes
• An agricultural enterprise may be profitable, but
  with a few changes, it may be even more
  profitable.
• A record keeping analysis can help identify
  areas where improvements can be made.

9
Why Conduct a Record Keeping Analysis?

• To determine if different enterprises should be
  tried
• A record keeping analysis may indicate that one
  should consider trying something entirely new.

10
Not Entrepreneurship??

• If a person had an SAE that was not
  entrepreneurship, such as placement or an
  agriscience experiment, what are some questions
  that he or she might ask in analyzing the
  records?

11
Placement

• What skills have I learned?
• Are there other skills I need to learn?
• What knowledge have I gained?
• Is the pay appropriate for the work I do?
• Are the working conditions satisfactory?
• Are the hours I work appropriate?

12
Agriscience Research

• What have I learned?
• What skills have I developed?
• What are some additional skills or knowledge I
  need to learn?
• What can be done better?

13
Other SAE Programs

• Similar types of questions can be asked of other
  types of SAE programs.