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AGRIBUSINESS MANAGEMENT. Original PowerPoint Created by Robert Mailand Modified by Georgia Agricultural Education Curriculum Office June, 2002. Record Keeping. WHY KEEP RECORDS?. TAXES MAKE BUSINESS DECISIONS. KINDS OF BUSINESS RECORDS. CASH SYSTEM ACCRUAL SYSTEM SINGLE ENTRY

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agribusiness management

AGRIBUSINESS MANAGEMENT

Original PowerPoint Created byRobert Mailand

Modified by Georgia Agricultural Education Curriculum OfficeJune, 2002

Record Keeping

why keep records
WHY KEEP RECORDS?
  • TAXES
  • MAKE BUSINESS DECISIONS
kinds of business records
KINDS OF BUSINESS RECORDS
  • CASH SYSTEM
  • ACCRUAL SYSTEM
  • SINGLE ENTRY
  • DOUBLE ENTRY
  • ENTERPRISE
records allow you to
RECORDS ALLOW YOU TO
  • ALLOW YOU TO BUDGET SWAG OF INCOME
  • TALK TO LENDERS
  • PLAN FOR THE FUTHURE
  • MAKE SHORT RUN DECISIONS
what are the parts of our records problems
WHAT ARE THE PARTS OF OUR RECORDS PROBLEMS?
  • INVENTORIES
  • ACCOUNTS PAYABLE
  • ACCOUNTS RECEIVABLE
  • INCOME JOURNAL
  • EXPENSE JOURNAL
what are the parts of our records problem
WHAT ARE THE PARTS OF OUR RECORDS PROBLEM?
  • PROFIT\LOSS STATEMENT
  • BALANCE SHEET
  • NETWORTH
  • CHECK BOOK RECONCILIATION