Question

farming accounting written in ........​

Answer 1

Answer:

• Farm accounting or accounting for agricultural farms is the usage of basic accounting processes as well as practices for accounting or recording agricultural operations.
• It is a method of using and applying the accounting procedure of ascertaining the profit and cost of each activity performed in farming which helps in decision making with respect to the profitability line of activity.
• In recent times, commercial farming has gained much prominence in terms of prosperity and growth, resulting in an increase in the number of farmers. Various organisations and corporate behemoths are entering the farming business making a big way for the industry.

• Hence, Proper guidelines regarding profit or loss should be ascertained for farming accounting.

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Answer 2

Answer:

Concept:

FARM ACCOUNTING refers to the general analysis of accounts. The main purpose of farm accounting is to obtain information that will be valuable for the management of the farm, and accounts are of little value unless they are carefully studied for this purpose.

Find:

farming accounting written in ........

Given:

farming accounting written in ........

Explanation:

farming accounting written in FARM ACCOUNT.

FARM ACCOUNTING refers to the general analysis of accounts. The main purpose of farm accounting is to obtain information that will be valuable for farm management, and accounts are of little value unless carefully studied for this purpose.

But for many farmers, accounting means keeping a box of receipts and contracts and taking them to the accountant to prepare tax records, get ready to visit the banker.

Farm accounting or farm accounting is the application of accounting practices to agricultural operations. In recent years, commercial fanning has attracted many people's attention, and as a result, many farmers are coming. Corporate entities are entering the agricultural business in a big way.

The Institute of Cost and Works Accountants of India therefore issued a booklet explaining how agricultural books should be kept and how profits or losses arising from agricultural operations should be ascertained. Farm accounting is the technique of using accounting data to determine the cost and profit of each agricultural activity and make decisions regarding the most profitable line of activity.

Transactions related to agricultural activities can be divided into four cash, credit and exchange and notional transactions. Cash and credit transactions are recorded in the normal way as any other business transaction.

Exchange transactions that are barter in nature, such as the exchange of animal labor for human labor, the exchange of seeds for output, etc., are usually captured in opportunity cost—the price in the open market.

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