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AEM310Agricultural Sciences2 Unitsintermediate

Farm Business Organization

This course provides an in-depth understanding of farm business organization, covering its nature, scope, and objectives. It explores farm records and accounting practices, emphasizing their importance in informed decision-making. Students will learn about the acquisition and efficient use of farm resources, including land, labor, capital, and entrepreneurship. The course also examines the economic climate and business challenges in Nigeria's agricultural sector, equipping farmers and policymakers with effective management approaches.

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156h
Study Time
13
Weeks
12h
Per Week
intermediate
Math Level
Course Keywords
Farm ManagementFarm RecordsResource UseEconomic ClimateRisk Management

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

Farm Management Principles

2

Farm Accounting

3

Resource Acquisition

4

Resource Utilization

5

Risk Management

6

Decision Making

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Farm Manager

Apply your skills in this growing field

Agricultural Economist

Apply your skills in this growing field

Agribusiness Consultant

Apply your skills in this growing field

Agricultural Extension Officer

Apply your skills in this growing field

Farm Business Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

AgricultureAgribusinessFarm ManagementAgricultural PolicyRural Development

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Nature and scope of farmer Business Organization

4h

Unit 1: Definition and scope of farm Business management

2 study hours
  • •Define farm management
  • •Discuss dimensions of farm management
  • •Explain farm organization and operations

Unit 2: Objectives of farm Management

2 study hours
  • •Explain the farm as a production subsystem
  • •Explain resource scarcity in relation to farm management
  • •Discuss specific objectives of farm management
Week
2

Module 1: Nature and scope of farmer Business Organization

4h

Unit 3: Nature of farm management decisions

2 study hours
  • •State basic farm management decision making questions
  • •Explain principles used in answering decision making questions
  • •Explain the dynamic nature of farm management decision

Unit 4: Organisation of the farm set up

2 study hours
  • •Explain factors to consider in farm setup
  • •Discuss the importance of farm layout
  • •Explain enterprise selection
Week
3

Module 1: Nature and scope of farmer Business Organization

4h

Unit 5: Attributes and functions of a farm manager

2 study hours
  • •Explain attributes of a farm manager
  • •State the qualities of a good farm manager
  • •Explain the functions of a farm manager

Unit 6: Application of Management Principles to Farm Organizations and operations.

2 study hours
  • •Define budgeting
  • •Explain Gross Margin
  • •State advantages and disadvantages of budgeting
  • •Prepare a budget
Week
4

Module 2: Farm Records and Accounting

4h

Unit 1: Methods of collecting Farm Management Information

2 study hours
  • •State and explain methods of collecting farm management information

Unit 2: Farm Records

2 study hours
  • •State and explain different types of farm records
  • •Explain the uses of farm records
Week
5

Module 2: Farm Records and Accounting

6h

Unit 3: Balance Sheet

3 study hours
  • •Estimate effectiveness of financial control
  • •Explain the concepts of balance sheet

Unit 4: Profits and Loss Account and the cash flow statement.

3 study hours
  • •Compute profit and loss account
  • •Explain income and expenditure streams
Week
6

Module 2: Farm Records and Accounting

4h

Unit 5.0: Farm Business Analysis

4 study hours
  • •Carry out analysis of farm business performance using indicators
Week
7

Module 3: Acquisition and use of farm resources – Land, Labour, Capital and Management

4h

Unit 1: Meaning and scope of farm resources

2 study hours
  • •Explain farm Resources
  • •State rewards for using different Farm resources

Unit 2: Methods of Acquiring Farm Resources

2 study hours
  • •State and discuss methods of acquiring farm resources
Week
8

Module 3: Acquisition and use of farm resources – Land, Labour, Capital and Management

6h

Unit 3: Various uses of farm resources

3 study hours
  • •State and explain uses of land, labour, capital and management

Unit 4: Resource use efficiency

3 study hours
  • •Define productivity
  • •State types of efficiencies
  • •Differentiate between technical and allocative efficiency
Week
9

Module 3: Acquisition and use of farm resources – Land, Labour, Capital and Management

4h

Unit 5: Management of Farm Resources

4 study hours
  • •State efficient ways of managing land, labour, capital and the manager
Week
10

Module 4: Economic climate and Business problems in Nigeria

6h

Unit 1: Business environment in Nigeria

3 study hours
  • •Explain the business environment in Nigeria and how it affects farming

Unit 2: Business Objectives

3 study hours
  • •State and explain business objectives of a farm
Week
11

Module 4: Economic climate and Business problems in Nigeria

6h

Unit 3: Decision Making

3 study hours
  • •Define decision making
  • •Explain steps involved in decision making

Unit 4: Risks and uncertainty in Agriculture

3 study hours
  • •Define and explain risk and uncertainty
  • •Discuss sources of risks and uncertainties in agriculture
Week
12

Module 4: Economic climate and Business problems in Nigeria

4h

Unit 5 Risk Management

4 study hours
  • •Mention and explain measures for reducing risk
  • •Explain practices for enhancing good farm management
Week
13

Final Revision

4h

Final Revision

4 study hours
  • •Review all modules and units
  • •Complete assignments and TMAs

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all module summaries and key concepts

2

Practice solving farm accounting problems from Units 3 and 4

3

Create case studies applying risk management strategies from Unit 5 of Module 4

4

Focus on understanding the economic factors affecting farm businesses in Nigeria (Module 4)

5

Practice decision-making scenarios based on resource allocation (Module 3)

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