Date: 30th of January- 17th of February 2023
Class: JSS 3
Term: 2nd Term
Subject: Agricultural Science
Topic: Farm Records and Book Keeping
Teaching Aid: A chart
Reference Book: WABP Junior secondary Agriculture for Nigerian School 1 by Anthony Youdeowei et al
Behavioural Objective: By the end of this topic, students should be able to
Step 1: Teacher revises last topic
Step 2: Teacher introduces and explains new topic
Step 3: Teacher writes note on the board
Step 4: Teacher evaluates students
Step 5: Teacher marks students' notes and give assignment
Previous knowledge: Students have been taught farm management
Farm records are written account of work expenses and income in farming enterprises.
Importance of Farm records
Book keeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business. It ensures that records of the individual financial transactions are correct, up-to-date and comprehensive. Accuracy is therefore vital to the process.
Book keeping provides the information from which accounts are prepared. It is a distinct process that occurs within the broader scope of accounting.
Each transaction, whether it is a question of purchase or sale, must be recorded. There are usually set structures in place for bookkeeping that are called ‘quality controls’, which help ensure timely and accurate records.
In principle, transactions must be recorded daily into the books or the accounting system.
For each transaction, there must be a document that describes the business transaction. This could include a sales invoice, sales receipt, a supplier invoice, a supplier payment, bank payments and journals.
These accompanying documents provide the audit trail for each transaction and are an important part of maintaining accurate records in the event of an audit.
Types of Farm records
There are many records that needs to be kept in a farm, some of which are
Farm diary: This is a record of day to day records of everything that happens in a farm.
Farm inventory: A record of all asset owned by the farmers and the cash values of the item e.g. land, equipment, crops in the farm and in storage.
Input records: This is a record of all the items in running the farm during the years; it’s used in calculating the farm profit
Production Records: A record of all items produced in the farm, it enables the farmers to know which projects are more profitable.
Labour Diary: This is a records of day to day work done on the farm, it’s uses to determine the work done, amount of labour expended and the cost at the end of each operation
Sales records: A records of all products sold by the farmer e.g. eggs, yam, goat etc
Consumption records: A record of all farm product consumed by the farmer and his family
Assignment: Design any type of farm record for a farm business
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