Valuing Farm Financial Information



Table 6. Meana Response for Farm Records Characteristics in Four Bid Ranges

Survey Question________

Bid Range

$0-14,999

$15,000-75,499

$75,000 and greater

No submitted bid

Accuracy

Cash Accounting

0.89

0.94

0.87

0.89

Accrual Accounting

0.30

0.20

0.57

0.00

Cost Basis

0.32

0.13

0.13

0.28

Market Value

Farm & Personal

0.42

0.31

0.40

0.50

Records Separate

Reconcile Records &

0.79

0.82

0.93

0.78

Bank Statement

0.74

0.94

0.93

0.56

Beginning & Ending
Balance Sheets

0.47

0.76

0.87

0.83

Key Financial Measures
Net Cash Income

0.58

0.41

0.29

0.72

ROA

0.21

0.18

0.29

0.17

ROE

0.11

0.29

0.50

0.22

Checkbook Balance

0.16

0.06

0.14

0.00

Gross Cash Income

Accrual Net Farm

0.16

0.06

0.07

0.06

Income

0.11

0.29

0.29

0.22

Financial Training

Training Received

0.47

0.59

0.67

0.56

a 1 = positive response (i.e., yes); 0 = negative response (i.e., no).

Table 7 reports mean responses of survey questions for computer use and specific
purposes of farm financial records. More than 90% of the participants with higher bids use a
computer for farm record keeping, while only 68% of participants with bids under $15,000 do so.
Participants with bids over $15,000 had higher rates of computer ownership and computer usage
for farm tasks. The no-bid participants had lower percentage computer ownership but seemed to
better utilize the computer for farm tasks than participants with bids under $15,000.

18



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