Answer:
1. Farm Diary
Farm diary record is the farm record book that houses the daily activities of a farm and the farmer. This farm record keeping book is very important as it serves as a reference book to obtain past information on the farm. Examples in poultry farming, where a farm manager needs to vaccinate his birds or give the birds so medications at a particular period. It is very normal for humans to forget things easily, once this farmer has a farm diary to input the date and time for the operation. He will carry this out and it will prevent future outbreak of any potential threat or menace on his farm.
However, it is not a farm diary record if it is not used daily. It has to serve the purpose it is intended for. As a farmer, it is imperative you keep farm records and accounts of what happens in your farm daily. This will enhance the progress of the farm.
2. The cash book and payment receipt
This is one of the types of farm records a good farmer should take note, cash book and payment receipt is a farm record book of all financial transactions, both the income and expenditure, of the farm. With it, a farm manager can access loans, detect fraudulent practices and know the state of the business. It is a farm accounting record book. In addition, the farm manager can make productive decision based on the figures present in the record.
3. Annual valuation record
It is imperative that at the end of each production year, a farmer should evaluate his or her venture to know the current state of the business. The farm strength and weakness have to be determined; this is only possible when the farmer has the annual valuation record. This farm record keeping book shows the value of stocks present on the farm from the beginning of the year to the end. It will aid decision making to prepares the farm plan for the next production year.
4. Farm inventory
This is the farm record book that shows the lists of all the items present on the farm at a particular time, examples are farm equipment, farm building, farm plots, furniture, etc.
Farm inventory shows all the equipment and their value also the current state of the equipment, the record is usually taken at the beginning and end of the production year.
A good inventory record can assist farmers to get bank loan.
5. Yield and production record
This is one of the essential farm records to be kept in a farm, it is the farm record that shows the yield or output of the farm. For both animal and crop production; the daily or seasonal production rate is recorded in the record. It contains the numbers of eggs laid per day or the sizes of litter after farrow or the tonnes of crop harvested per season.
It shows the success rate of the farm during the production year.
6. Payroll and labour record:
This is another cogent farm record book, it shows the amount and types of labour hired or employed to work on the farm. Also present in this record is the rate and wages paid, this record enhances transparency on the farm.
7. Farm input utilization record
This farm record book shows all the input acquired and utilized during the production year, it shows the relevance of a particular input in the production. It shows the level of input application and it is also used in combination with output record to determine resources productivity.
8. Profit and loss record
This is the principal record; it shows the economic level of the business. This farm accounting record is the only record most farmers tends to keep, however, the aforementioned records are prerequisite to this record.
This farm record book is normally prepared at the end of every production period, usually at the end of the year to determine whether the business is making profit or otherwise.
Explanation:
