Lesson Note on the Records and Book Keeping For JSS3

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Records and Bookkeeping

Content: Types and uses of farm records

The farm records which a good farmer should keep include: Farm diary, Farm inventory, Input records, Production records, Consumption records, Sales records, Payroll or Labour record, Profit and loss account

2. Farm Diary: A farm diary is a record of the daily activities carried out on the farm. A typical farm record shows the type of work done, the date, the number of workers, time spent, observations, and others. It serves as a good reference book to obtain information about the farm
3. The farm Inventory: This is the list of all the assets or materials on the farm e g farm building and structures, machinery, livestock, farm input, produce stored, growing crops, land, etc. A good inventory record can assist the farmer to get a bank loan. It is usually taken at the beginning and at the end of each year.
4. Production (Yield) records: These are records that show all the things produced on the farm. Such items include crops, livestock, and livestock products. It helps in variety selection.
5. Input record: This is a record that shows all inputs purchased and used for production in the farm over a period of time. Such inputs are seeds, fertilizer, seedlings, chemicals, animal feeds, day-old chicks, drugs, etc. It shows input utilization. It can be used to determine resource productivity when combined with output records.
6. Sales record: This shows all sales made by the farmer. Farmer realizes some income when he sells his produce. When income from sales exceeds expenses, the farmer is said to make a profit and vice versa.
7. Consumption record: This is the record of the farm products

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