2012 NATIONAL Farm Business Management CDE - Pa FFA

Farm Business Management Career Development Event 2012-20163. Cost analysisa. fixed costsb. variable costs4. Input combinations5. Enterprise selectiona. equi-marginal returnsb. specialization and diversification6. Supply and demanda. price and quantity determinationb. elasticity of demandc. elasticity of supplyd. substitute, complementary and competitive productse. comparative advantage7. Types of marketsa. perfectly competitive marketsb. oligopoly marketsc. monopolistic competitionsd. monopoly marketsB. Concepts related to the use and analysis of records to manage resources1. Analysis of recordsa. financial statementsi. balance sheetii. income statementiii. statement of owner equityiv. statement of cash flowb. financial statement ratiosi. solvencyii. liquidityiii. profitabilityiv. repayment capacityv. financial efficiency2. Budgetinga. partial budgetsb. whole farm budgetsc. enterprise budgets3. Cash flow analysisa. summaryb. projections4. Managerial accounting5. Tax managementC. Concepts and functions of risk management1. Financiala. capital budgetingi. time value of moneyii. net present valueb. crediti. sourcesii. loan applicationsiii. interestiv. collateralFarm Business Management Career Development Event 2