Farm Business Management

All Farm Business Management Content

A pen and calculator sitting next to an accounting binder.

Bookwork, The Missing Management Component: Consistency of Financial Records

Consistent record keeping will allow for accurate ratios and trend analysis. While operations will change, grow, or contract, having a standard operating procedure will allow for analysis and decision-making.

A male with three female farm administrators reviewing a binder of financial records. Courtesy: USDA

Bookwork, The Missing Management Component: Balance Sheet Valuations

The financial crash of the 1980’s has been attributed to changes in producer’s balance sheets, due to a decline in land prices. After this time, a two-column balance sheet was developed to help prevent that type of balance sheet collapse from occurring in the future.

Farmer sitting inside the cab of a green tractor parked inside a machine shed.

Bookwork, The Missing Management Component: Depreciation Determination and Use

Another component of determining net income is depreciation. This is one component of the Schedule F that many understand the least. Typically, the most use it gets is to minimize income tax through accelerated tax depreciation under section 179.

IRS Schedule "F" Form, Profit or Loss From Farming

Bookwork, The Missing Management Component: Farm Income Determination

Many ag producers do not like bookwork. Many times this job gets pushed to the side, until a bill is due or taxes need to be filed. It is also fair to say it is a missing component to the management of most operations. A missing component that could lead to the collapse of the operation.

A vast, rolling grassland area.

Change in South Dakota Agricultural Land, Tenure of Farm Operation, and Producer Characteristics 2012-2022

Report using the newly released data from the 2022 Census of Agriculture to provide an update on land in farms, the number of farms, tenure of farm operations, and producers’ characteristics in South Dakota for the last ten years, from 2012 to 2022.

Caregiver assisting an older adult woman through a memory exercise.

SDSU Extension supports caregiving plans for family farms

April 15, 2024

National Healthcare Decisions Day is April 15, 2024, and South Dakota State University Extension is encouraging family farm owners to make long-term caregiving decisions.

Vast, sprawling cornfield.

Large Farms Continue to Dominate South Dakota Crop Production

Based on the 2022 U.S. Census of Agriculture, large-scale farms operate more than two-thirds of the total cropland acres in South Dakota. Learn some expert insights about the trends driving this development.

Tractor planting seed in a no-till field.

Conservation Practices Increasing in South Dakota

The recently released Agricultural Census data of 2022 shows that the share of cropland acres under conservation practices has continued to increase in South Dakota.

Merino sheep grazing on grassy pasture.

Using Rangeland to Extend Lambs to Meet a More-Optimal Market

Coming off a year of record prices across all classifications of sheep, the current drop in prices has been a bit discouraging. Using historic pricing data, we can observe seasonal price fluctuations that may make holding onto lambs a little longer a more-profitable option.

Young corn emerging in a no-till field.

Corn Planting Populations: A Deeper Dive

Corn is grown all across South Dakota, and the optimal target population varies depending on location. In a nutshell, there is a lot more to seeding population selection than what meets the eye.