Agricultural Business/DMACC AGB 331
Roland-Story High School
The Agriculture Business class is a one semester course that is designed to instruct the students in the basic management practices necessary to begin an agricultural business and/or secure an entry level position within the agri-business sector. This class is offered as a Joint Enrollment course (concurrent enrollment) through Des Moines Area Community College (DMACC). Students who successfully complete this course will receive 3 DMACC credits which can transfer to Iowa State University. In addition, students can secure 1 local credit for successfully passing this class.
Farm and Ranch Management
Problem Solving Activities
Units of instruction include:
Class Competencies Include:
During this course the student will be expected to:
1. Summarize the current industry issues.
- 1.1 Identify industry production trends.
- 1.2 Define issues that impact the future of the industry.
- 1.3 List career opportunities.
2. Investigate agricultural economics conceptual components.
- 2.1 Describe competitive, supplementary, and complementary enterprise relationships and their use to find the profit-maximizing combination of two enterprises.
- 2.2 Explain the importance of opportunity cost relating to managerial decision making.
3. Contrast commodity marketing and risk management.
- 3.1 Identify the types of financial risk inherent in agriculture.
- 3.2 Describe how individuals vary in their willingness to accept exposure to price risk.
- 3.3 Calculate the break even price for producing a commodity.
- 3.4 Describe risk management strategies available for producers based on the financial strength of their business.
- 3.5 Formulate a marketing plan for a producer based on the financial strength of the business and the management approach to price risk.
4. Analyze agricultural finance.
- 4.1 Compare risk and return relating to short/long term goals and financial strength of business.
- 4.2 Explain the relationship between leverage, financial risk and growth of the business.
- 4.3 Calculate opportunity cost of varying investments.
- 4.4 Calculate the time value of money and illustrate with an application example.
- 4.5 Calculate simple and compound interest.
- 4.6 Identify sources of agricultural credit and the cost of borrowing capital.
- 4.7 Identify factors affecting the cost of credit.
- 4.8 Identify terminology used in simple and compound credit.
- 4.9 Calculate actual percentage rates on installment loans.
- 4.10 Set up a bank note with repayment terms for a short, intermediate and long term asset.
- 4.11 Calculate financial ratios.
- 4.12 Explain repayment activity for loans.
- 4.13 Identify current, intermediate and long term debt examples.
- 4.14 Illustrate, with examples, secured and unsecured debt.
- 4.15 Use an example to demonstrate a line of credit vs. loan.
- 4.16 Compare the differences between a security agreement and a financing statement and their usage.
5. Develop accounting procedures and practices.
- 5.1 Examine a net worth statement
- 5.2 Calculate efficiency factors for business enterprises using profitability solvency ratios.
- 5.3 Calculate net return per $100 invested in enterprises.
- 5.4 Calculate current, working and net capital ratios from financial statement or balance sheet.
- 5.5 Calculate liquidity ratios.
6. Assess entrepreneurial skills through interaction.
- 6.1 Identify elements necessary in creating a new business.
- 6.2 Justify the importance of assistance from professionals.
- 6.3 Analyze a business plan.
- 6.4 Identify factors in obtaining financing for a new business.
- 6.5 Investigate sources and methods of financing a business.
- 6.6 Identify career opportunities.
- 6.7 Appraise career goals and entrepreneurial characteristics.
- 6.8 Plan positively for change.
- 6.9 Review ethics in business.
7. Compare microcomputers and information systems, hardware and software.
- 7.1 Select software and hardware delivery systems for appropriate business applications.
8. Analyze proper business management procedures and practices.
- 8.1 Identify alternatives to ownership through leasing.
- 8.2 Review the various types of contracts used in business.
- 8.3 Identify the life cycle of a business operation.
- 8.4 Outline a chain of command for a business.
- 8.5 Develop a filing system.
9. Develop a business marketing strategy
- 9.1 Examine marketing programs in agribusiness
- 9.2 Review the marketing mix concept of product, place, price and promotion in designing strategies
- 9.3 Compare marketing concepts and strategies
- 9.4 Design a marketing plan
Last updated on: June 17, 2021