11 Key Management Decisions Made Easier Using the Agricultural Budget Calculator (ABC)
The Agricultural Budget Calculator (ABC) is a free online program to aid you in developing farm enterprise budgets. The base ABC program guides you in developing economic and cash enterprise budgets. Once developed, ABC can use the enterprise budget data to create several reports that can be useful for decision-making.
In this article, Center for Agricultural Profitability experts identify 11 questions you may have that ABC can assist with, such as:
- Can ABC help me plan my monthly labor requirements and costs?
- What price do I need to receive for my crop to cover my operating costs? To cover my cash costs? To cover my total costs of production?
- How do I allocate my whole-farm overhead costs to my enterprises so I can have a more accurate break-even figure?
- Should I purchase the equipment and pay the operating costs to do a farming operation OR should I have it done by a custom operator?
- Can I weigh my financial risks associated with potential lower prices, a crop loss or disaster from enterprise budgeting?