Enterprise Management 1
Financial statement that compares the profitability of alternatives is called a
partial budget
A management tool used to reduce the damage to soils caused by heavy or repeated agricultural machinery passes on the land.
What is controlled traffic?
The process of growing different crops on the same land from one year to the next.
What is crop rotation?
The risk-avoidance practice of producing a variety of outputs (crops or animals), or both, on one farm, as distinguished from specialising in a single commodity.
What is diversification?
The amount of salary or wages paid to the individual by an employer, before any deductions are taken is called
gross income
An increase in soil salt concentration in the environment/watercourse/soil in unirrigated landscapes, being in excess of normal soil salt concentrations in dryland regions.
What is dryland salinity?
Government departments of agriculture, water, & trade; Australian Bureau of Statistics; research organisations such as CSIRO; & grower/producer organisations, are all examples of
reliable sources of information for agricultural enterprises
What are management & ownership structures for agricultural enterprises?
Field notebooks (e.g. farm map, farm diary), stock inventories, computer spreadsheets, financial reports are examples of
agricultural records used for collecting physical & financial data
A measure of an animal's efficiency in converting feed mass into increases of the desired output (e.g. animal live weight).
What is feed conversion ratio (FCR)?
Prevention, preparedness, response, recovery stands for
PPRR
International trade left to its natural course without tariffs, quotas or other restrictions.
What is free trade?
Climate; weeds, pests & diseases; varying supply & demand; changing consumer tastes & preferences; government intervention are examples of what?
Agricultural production risks
Maintaining & improving the vegetative cover of soil; maintaining & improving soil organic matter; & reducing the speed of run-off water are examples of what?
Preventing & controlling erosion
Increase fertility; improve soil structure & health; break disease, pest & weed cycles.
What are benefits of crop rotation?
The orderly transfer of management, responsibility, ownership and control, over time to other family members, is called
succession planning
A financial statement that summarises the revenues, costs & expenses incurred during a specific period of time, usually a financial quarter or year, is called a
profit-and-loss statement
Dryland salinity, erosion, drought & water quality are all examples of what?
Key issues that impact agricultural production.
Name 2 benefits of water harvesting.
Reduces reliance on drawing water from local rivers/creeks; has the potential to increase food production in arid zones; & improved water use efficiency...
Live animal export, free-trade agreements, national drought policies, & water reform policies are examples of
major government decisions made in recent years that have affected Australian agricultural enterprises