Resource Manual on Integrated Production and Pest ... - julitoaligaen

<strong>Resource</strong> <strong>Manual</strong> on IPPM in Vegetable
World Education Philippines, Inc.
B. Classification of Receipts and Expenses
Farm records have to be classified based on receipts and expenses. For example, records
for sales include cash sales and value for marketed products. They should also show the
date of transaction, quantity of products sold (for each product), price per unit and total
receipts.
There should also be a record for miscellaneous receipts and non-cash income to take
care of unclassified receipts and non-cash income, respectively. If applicable, expenses
can be classified into fuel and oil, equipment repairs and maintenance, transportation,
taxes and interest paid, capital expenditure, and miscellaneous. Likewise, there should
also be a record for unpaid family labor and non-cash expenses.
C. Farm Inventory
Farm inventory, together with the farm and accounts, is also needed to summarize the
farm business. There is also a need for the inventory data for the farm business survey
method. The farm inventory is a list of what the farm business owns (assets) and owes
(liabilities) at a given time, together with their values. The farm inventory may include
the following categories:
a) Real estate (land and buildings)
b) Farm equipment and machinery
c) Feeds and supplies
d) Livestock
e) Growing crops
f) Others (cash on hand, notes receivable and accounts payable)
The best time to take the farm inventory is at the beginning and ending of a farm business
year since less farm work is done at this time. The inventory is done by first listing down
all farm properties and providing a brief description for each. The description may
include the date of acquisition, construction or planting (in case of growing tree crops),
original cost, number or quantity, etc. Then a value is placed on each item. All farm debts
and receivables are also listed. Lastly, the information are summarized for farm business
analysis purposes. The change can be computed for a given period using the following
formula:
Change in = End-of-the- _ Beginning -of-the
Inventory Year Value Year Value
A positive value implies an increase in inventory while a negative value means a decrease
in inventory.
The average inventory can be obtained using the following formula:
Beginning-of-the + End-of-the
Average Year Value Year Value
Inventory =
2
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