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The income statement measures the profitability of a farm business for a particular period of time, usually one year. The balance sheet measures the wealth or financial position of the business at a particular point in time by reporting the farm’s assets, debt, and net worth.
U.S. net farm income and net cash farm income, 2000—2017. In United States agricultural policy, net farm income refers to the return (both monetary and non-monetary) to farm operators for their labor, management and capital, after all production expenses have been paid (that is, gross farm income minus production expenses).
In United States agricultural policy, gross farm income refers to the monetary and non-monetary income received by farm operators. Its main components include cash receipts from the sale of farm products, government payments, other farm income (such as income from custom work), value of food and fuel produced and consumed on the same farm, rental value of farm dwellings, and change in value of ...
Improved crop yields in North America, and the expectation of near-record farm income in 2014, are creating opportunities for companies that supply agricultural equipment. Amid this favorable ...
Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. [1] Agriculture was a key factor in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in the cities.
The farming population is shrinking in the U.S. from compounding forces like extreme weather events that hinder growing conditions and financial hardship to sustain farming income.
A Revolution Down on the Farm: The Transformation of American Agriculture since 1929 (2009) excerpt and text search; Dahlstrom, Neil. Tractor Wars - John Deere, Henry Ford, International Harvester, and the Birth of Modern Agriculture (2022) Dean, Virgil W. An Opportunity Lost: The Truman Administration and the Farm Policy Debate.
The agricultural policy of the United States is composed primarily of the periodically renewed federal U.S. farm bills.The Farm Bills have a rich history which initially sought to provide income and price support to US farmers and prevent them from adverse global as well as local supply and demand shocks.