Full Title:Farm Business Management 4
Module Code:MGMT S6004
 
Credits: 5
Valid From:Semester 2 - 2014/15 ( February 2015 )
Module Delivered in 2 programme(s)
Module Description:The aims of this module are to provide the student with the ability to analyse an existing farm business with a view to identifying the changes necessary to complete a farm business plan. The module will build on the analysis techniques already developed and will focus on budgeting techniques, physical and cash flow planning. The implications of such changes for succession and inheritance and farm property transfer will also be covered. It will also introduce students to the skills and techniques necessary for writing a literature review.
Learning Outcomes:
On successful completion of this module the learner should be able to
  1. Analyse the physical and financial performance of an existing farm business using with a view to identifying areas where change is necessary and include options and risk analysis.
  2. Complete an investment appraisal for a business proposal and carry out a net margin analysis.
  3. Prepare a 5 year physical plan for a farm business to include details of livestock changes, silage requirements, grassland management programme and outline the capital investment programme required.
  4. Complete a feasibility study for the farm business using an annual cash flow analysis planning sheet. This should include detailed costings and a loan repayment schedule.
  5. Describe the procedures and taxation issues involved in farm property transfer.
  6. Review, collate, summarise and present relevant information from business and other literature for a chosen agricultural topic.
 

Module Content & Assessment

Indicative Content
Appraisal of Farm Business
Analysis of existing physical and financial performance, options analysis, risk assessment.
Physical Planning
Standard assumptions in farm planning, completion of livestock tables, calculation of stocking rate, nitrates regulations and fertiliser programme , grassland management programme including details of fodder requirements.
Capital Budgeting
Identification of requirements for investment in machinery, buildings, land improvement and livestock, costing and scheduling of investments.
Business Financing and Credit Planning
Sources of credit, optimum repayment schedule, repayment capacity.
Cash Flow Budgeting
The concept of annual cash flow, surplus and deficit, estimation of income and expenditure on an annual basis, capital versus current spending, effect of borrowing on cash flow.
Sensitivity Analysis
Milk price and yield per cow, calf price, average daily liveweight gain, beef price differentials, lambing percent.
Succession and Inheritance
Farm Property transfer
Business Report Writing
Reviewing, collating, summarising information from business, academic and other sources; Writing a business report. Adapting writing style and approach for other disciplines.
Assessment Breakdown%
Course Work50.00%
End of Module Formal Examination50.00%

Full Time

Course Work
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Project Students must compete a detailed 5 year physical and financial farm plan for a farm business which they have visited and carry out a sensitivity analysis. 1,2,3,4 35.00 0 0 Sem 1 End 0
Written Report Students will be required to review, collate and summarise relevant information from the literature for a chosen agricultural business topic and present their work in a written report. 6 15.00 0 0 Sem 1 End 0
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Formal Exam End-of-Semester Final Examination 1,2,3,4,5 50.00 0 0 End-of-Semester 0

DKIT reserves the right to alter the nature and timings of assessment

 

Module Workload & Resources

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 6.00 Every Week 6.00
Independent Study No Description 4.00 Every Week 4.00
Directed Reading No Description 2.00 Every Week 2.00
Total Weekly Learner Workload 12.00
Total Weekly Contact Hours 6.00
This course has no Part Time workload.
Resources
Recommended Book Resources
  • Maher, J. et al. 2010, Farm Planning Workbook, Teagasc
  • Nulty, B. et al 2006, Farmer Succession and Inheritance, Teagasc
  • Teagasc 2008, Management Data for Farm Planning, Teagasc
  • Nulty, B. et al. 2010, Farmer Succession and Inheritance, Teagasc
  • O Dwyer, J. 2012, Farm Management, Teagasc
  • American Management Association 2010, AMA handbook of business writing, American Management Association
  • DkIT 2009, Credit Where Credit is Due: a guide to referencing in DkIT, DkIT
Supplementary Book Resources
  • Grix, J. 2010, Information Skills: finding and using the right resources, Palgrave Macmillan
Supplementary Article/Paper Resources
  • Agricultural Periodicals – Farming Press and Teagasc Digests
  • Business Publications and Periodicals - Business Press
Other Resources

Module Delivered in

Programme Code Programme Semester Delivery
DK_SAGRI_8 Bachelor of Science (Honours) in Agriculture 4 Mandatory
DK_SAGRI_C Higher Certificate in Science in Agriculture 4 Mandatory