The Office

An Office
Photo by Ned Salter

A family farm is not just a way of life for people, but it is a business as well.

One of the most important things a farmer must do is keep an inventory of everything he or she owns.

The farmer also keeps a record of income and expenses. This way the farmer knows whether or not there is enough money to pay the bills.

The income made from selling farm products is important for the farmer and in many agricultural areas, farming is a major part of the economy. In Ohio this is especially true. In Knox County in 1995 there were 1,120 farms with an average size of 204 acres. These farms sold products worth a total of $52,918,000!

Farmers produce many things to sell but they also have many expenses in order to keep the farm in working order. Figure your farm's expenses.

Nice Job!

Now that you have calculated the income and expenditures, or the finances for the farm, you see that farming is not just about planting crops. The farmer needs to know many other things to make life run as smoothly as possbile, and doing the finances is only the begining. Farmers will make different decisions about what they will sell, how much they will sell, and what they will do with the income they make. No two farmers make the same choices.

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