Farm budgeting
Abstract
A farm budget made out as described in this bulletin furnishes close approximations to the correct answer for an individual farm. Starting with things as they have been, each part of the farm business is examined in turn to learn what results are likely to follow from different production plans, each giving due consideration to prospective prices and to costs. The procedure recommended is a methodical application of common reasoning processes. Emphasis is directed, however, to the effect of possible changes on the business situations thus created. Since this bulletin was first issued, action programs of the Government have reached directly or indirectly every farm business in the country. Each current program has offered to each farmer opportunities to be considered in his plans each year. The effect of any proposal on an individual farm business may be appraised by the method illustrated herein.