Financial Records
What is an asset?
Something of tangible value that a person or business owns.
How does a landscape estimate differ from a bid?
An estimate is a rough calculated cost; a bid is a fixed price submitted for a project.
What is the purpose of marketing?
Sell goods/services and increase sales and profits.
Name three characteristics of a good advertisement.
Any three: simple/accurate, definite prices, explains benefits, encourages action, seasonal timing, recognizable format, measurable.
What does SAE stand for? Name two benefits.
Supervised Agricultural Experience. Any two: experience, career exploration, employability, financial literacy, safety, agricultural literacy, recognition.
Explain current vs. non-current assets and give one example of each
Current: cash or items sold/converted within 12 months, such as savings. Non-current: useful life beyond one year, such as machinery or land.
What are profit and a budget?
Profit is earnings after expenses. A budget is the financial resources available for the project
Name and define all four Ps.
Product: good/service sold; price: amount charged; place: where purchased; promotion: advertising/public relations.
Name three characteristics of a poor advertisement
Any three: confusing/inaccurate, wrong season, misleading prices, no benefits, no action, unsuitable plants, unmeasurable.
How do Foundational and Immersion SAEs differ?
Foundational explores careers/interests and builds basic skills. Immersion applies skills through a focused project tied to interests/careers.
Explain current vs. non-current liabilities and give one example of each.
Current: due this year, such as a fertilizer bill. Non-current: due after this year, such as the future portion of a mortgage.
Labor is $400, materials $600, and equipment $100. Find job cost. Add $200 overhead and $100 contingency to find break-even cost.
Job cost = $1,100; break-even = $1,400
Name the five things market research identifies.
Volume, customer, competitors, market, trends
Give one advantage and one disadvantage of radio advertising.
Sound/reaches people in cars or homes; difficult to refer back to details.
Classify: (1) a paid garden center job under an employer; (2) a student-owned lawn care business.
v1 Placement/internship. 2 Ownership/entrepreneurship.
Give the formulas for total assets, total liabilities, and net worth.
Current + non-current assets; current + non-current liabilities; total assets - total liabilities.
A project earns $3,000 in revenue and costs $2,400. Find gross profit and profit margin.
$600 profit; ($600 / $3,000) x 100 = 20%.
Explain direct sales vs. reseller sales and give one landscape example of each.
Direct: grower sells to customer. Reseller: retailer buys grower plants then sells them to customers.
Choose two promotional methods other than radio. Give an advantage and disadvantage for each.
Examples: flyers target a group but take labor; billboards work continually but require passing the location; television has motion/sound but is expensive.
Classify: (1) a class greenhouse business at school; (2) a planned project improving community garden beds for residents.
1 School-based enterprise. 2 Service learning.
Name the itemized business record of beginning/depreciated values. Explain depreciable vs. non-depreciable inventory and give examples.
Inventory. Depreciable loses value over a useful life longer than a year, e.g., machinery. Non-depreciable is used or sold within a year, e.g., supplies. Land does not depreciate.
Break-even cost is $1,400. Desired profit is $350. Find selling price and explain a direct vs. indirect cost.
$1,750. Direct relates to one project, e.g., its plants/labor. Indirect supports multiple projects, e.g., shared office expenses.
Define market, market research, marketing strategies, and Test and Track as used in the notes.
Market: willing/able customers. Research: customer decision makers, segments, target strategy. Strategies: document for evaluating marketing plan effectiveness. Test and Track: track what grows the business.
An ad offers plants that do not grow locally, lists a vague price range, and gives no reason to buy. Identify three problems and improve them.
Unsuitable plants -> locally suitable choices; misleading/vague pricing -> definite accurate price; no benefits -> describe a relevant benefit. Accept other valid specific improvements.
What is the purpose of research SAE? Which type changes one factor while controlling others? Name one way to maintain SAE records.
Establish new knowledge or validate research; experimental research; AET, paper records, or a designed digital system.