AE 231 - Agricultural Finance Management

3 Credits
Outline Effective Date: 2023 Fall Version 1
Created: Jun 25, 2023
Revised: Aug 11, 2023
Approved: Aug 29, 2023

Lecture Hours: 42 Lab Hours: 28

Course Description:
This course focuses on applying economics and financial management concepts to agricultural enterprises. Students learn about the time value of money, economic and financial analysis, budgeting, and other management tools. Practical assignments using Office 365 products enhance their skills enabling students to gain the knowledge and proficiency to make informed decisions and contribute to the success of agricultural businesses.

Rationale:
Students in Year II of the Agribusiness program are required to take this course. It focuses on teaching sound financial management practices, empowering students to make informed decisions for farm management and strategic business planning. This leads to enhanced efficiency, profitability, and overall success in the agricultural industry. Adequate budgeting and financial analysis are essential to keep internal and external stakeholders well-informed about the farm business’s performance and financial position. Understanding these principles is vital for running a successful and sustainable farming enterprise.

Prerequisites: AC 118, AC 218
Corequisites: None

Course Learning Outcomes:
Upon successful completion of this course, students will be able to:

Analyze financial statements and ratios to assess and manage the financial health of a farm enterprise.
Evaluate the impact of sustainability and risk on farm business plans and decisions.
Discuss introductory human resource management concepts relevant to farm enterprises.
Conduct investment analysis and credit decisions using time value of money concepts.
Develop key planning documents and budgets (enterprise, cash flow, capital, and partial) for the farm enterprise, considering both financial and non-financial factors.

Required Resource Materials:
There are no required textbooks for this course but a laptop is required as a variety of online and Office 365 tools will be utilized.

Reference Text

Canadian Agricultural Human Resource Council https://cahrc-ccrha.ca/

Gov’t of Saskatchewan: Comprehensive Guide to Farm Financial Management https://www.saskatchewan.ca/business/agriculture-natural-resources-and-industry/agribusiness-farmers-and-ranchers/farm-business-management/farm-financial-management

Optional Resource Materials:
None

Conduct of Course:
This course involves approximately 42 hours of lecture and 28 hours lab.

The course is taught using a blend of lecture notes, case studies and discussion. Work and Power Point will be used occasionally within the course and on-line tools as well as Excel will be used extensively.

Classroom and laboratory attendance is considered vital to the learning process and as significant to the students’ evaluation as examinations and reports.

Students having a combination of excused and/or unexcused absence of 20 percent or higher for the scheduled course hours are required to withdraw and automatically receive a “RW” (required withdrawal) for the course, regardless of any other evaluation results. (RW is a failing grade.)
An excused absence is one that is verified with your instructor. Verification should be prior to the absence or the next class day following the absence. Verification of the absence may take the form of a note from your doctor/College nurse regarding illness, or a note from another instructor regarding a field trip or other activity, or authorization by your instructor. An unexcused absence is anything NOT verified by the instructor prior to the absence or the next class day following the absence.

NOTE: Any exceptions to the above attendance policy (e.g. timetable conflicts, work-related issues) must be approved in writing by the Department Chair prior to the beginning of the course.

It is the students’ responsibility to know their own absentee record.

Normal hours are 8:30 a.m. to 6:30 p.m., with potential for evening courses, exams or extended field trips. Students are expected to be available for classes during these times.

Content of Course:

Financial Terminology & Risk Management
Sustainability
Ratio Analysis
Enterprise Budgets
Partial Budgets
Investment Analysis - TVM
Credit on the Farm
Human Resource Management
Whole Farm Budgets

Course Assessments:
The final grade is an aggregate of the following components:

Tests & Quizzes	55-60%
Final Project	25%
Assignments	15-20%

Official final grades will be available on My Lakeland. Grades posted in D2L should be considered interim grades.
“Lakeland College is committed to the highest academic standards. Students are expected to be familiar with Lakeland College policies and to abide by these policies. Violations of these policies are considered to be serious and may result in suspension or expulsion from the College.”

Course Pass Requirements:
A minimum grade of D (50%) (1.00) is required to pass this course.

Letter	F	D	D+	C-	C	C+	B-	B	B+	A-	A	A+
Percent Range	0-49	50-52	53-56	57-59	60-64	65-69	70-74	75-79	80-84	85-89	90-94	95-100
Points	0.00	1.00	1.30	1.70	2.00	2.30	2.70	3.00	3.30	3.70	4.00	4.00

Students must maintain a cumulative grade of C (GPA - Grade Point Average of 2.00) in order to qualify to graduate.

Every effort has been made to ensure that information in this course outline is accurate at the time of publication. Lakeland College reserves the right to change courses if it becomes necessary so that course content remains relevant.

In such cases, the instructor will give students clear and timely notice of changes.

No part of this course outline may be reproduced in any form or resold without written permission from Lakeland College.

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