Asked by: Seloua Marquina
asked in category: General Last Updated: 3rd June, 2020

What is a whole farm budget?

A whole-farm budget is used to estimate the expected income, expenses, and profit of a given farm plan, to compare the profitability of alternative farm plans, and often to evaluate the effect of a change in farm size and estimate the availability of farm resources (land, labor, capital, and management).

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Similarly, it is asked, what is a farm budget?

(b) Farm budgeting is a process of estimating costs, returns and net profit of a farm or a particular enterprise. (c) Budget is a statement of estimated income and expenditure.

Similarly, how does a whole farm budget differ from an enterprise budget? A whole-farm budget includes all the enterprises to be carried out on the farm, and projects total income and expenses instead of just income and expenses per unit, as an enterprise budget does.

Also question is, what is an enterprise budget?

An enterprise budget is a listing of all estimated income and expenses associated with a specific enterprise to provide an estimate of its profitability. A budget can be developed for each existing or potential enterprise in a farm or ranch plan.

What are the types of budget?

The following types of budgets are commonly used by businesses:

  • Master Budget. A master budget is an aggregate of a company's individual budgets designed to present a complete picture of its financial activity and health.
  • Operating Budget.
  • Cash Flow Budget.
  • Financial Budget.
  • Static Budget.

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