INTRODUCTION
 Farm records and accounting forms are key tools where
the farmer may base his future decisions.
 A good farm record is also a tool used in assessing and
mitigating farm business risks and opportunities

TYPES OF FARM RECORD
 Daily farm records
 Records of farm implements and equipment
 Record of agricultural inputs
 Records of livestock and livestock products
 Records of animal feeds
 Production records
 Records for farm use
 Farm expenditure records
 Workers records
 Vehicle records

DAILY FARM RECORDS
These are the records of all important daily
activities and events that happen on the farm.
These records help the farmer keep track of past
farming activities and plan for future activities.

RECORDS OF FARM IMPLEMENTS
AND EQUIPMENT
This is used to keep an inventory of all the
equipment on the farm and their quantity. It can
also contain the date of purchase of the equipment
and sometimes their description.

RECORD OF AGRICULTURAL
INPUTS
This record is used to keep track of all agricultural inputs
such as fertilizers, seeds, etc. The record often also
contains the amount of that was bought, the amount that
has been used, and what is left.

RECORDS OF LIVESTOCK AND
LIVESTOCK PRODUCTS
Farmers keep different records of livestock for each type
of livestock on the farm. Also, for livestock that have
products e.g. eggs from chickens, the farmer keeps a
record that accounts for the number of eggs laid every day.
If a farmer has cows for milk production, he keeps record
of the amount of liters of milk produced per day.

RECORDS OF ANIMAL FEEDS
This record is used for keeping an inventory of the
types of animal feed and the quantity purchased,
used, and also quantity in stock on a daily basis.

PRODUCTION RECORDS
Production records are used to document everything that is
produced on the farm. These records are prepared every
week. And then summed up at the end of the month and
also at the end of the year. Thus, there is a weekly record,
a monthly record, and an annual record of everything
produced on the farm. They help the farmer to keep track
of how well the farm is doing.

RECORDS FOR FARM USE
Used for recording the date the land was
prepared for farming, the number of plots or
hectares used in planting, the plants planted
on the farm and where they are planted.

FARM EXPENDITURE RECORDS
Farm expenditure records are used to keep a record
of all expenditures.

WORKERS RECORDS
This type is used to keep the record of staffs,
their salaries, and payment. It is also known
as labour record.

VEHICLE RECORDS
It is used to keep a record of all vehicles used on
the farm, petrol and oil used, and also any repairs
and servicing and the dates of the repair or
servicing.

TYPES OF ACCOUNT
Personal account
Real account
Nominal account

PERSONALACCOUNTS
Credit transaction in a business are carried out with
a living person, an institution or an artificial
person. As a result such transaction debtor- credit
(receiver or giver).

REAL ACCOUNTS
A product traded in a business know as goods.
Separate accounts are maintained for incoming
(purchase) and outgoing (sales) of goods.

NOMINAL ACCOUNTS
Certain expenses have to be incurred for
carrying on the business. There are various
incomes also in the business. Such income
and expenses are known as nominal account.

PROBLEMS IN FARM RECORD
Among the main reasons farmers do not keep farm records are a
lack of knowledge on record-keeping, a perceived lack of the need
to keep records, too much work and a lack of time.
the farm problem was defined in terms of the disparity between the
incomes of farm and non-farm households. Today, average farm
income equals or exceeds the national average income of non-farm
families.

PROBLEMS IN ACCOUNTS
 Accounting problems can range from fraud and errors, to misplaced
financial records and more. Inaccurate books, over-reported profit,
and numerous other accounting mistakes can cause businesses to
lose sight of and control over their business's financial well being.
 Poor cash flow management
 Managing payroll
 Lack of capital