Valuing Farm Financial Information

Table 7. Mean^a Response for Computer and Farm Records Uses in Four Bid Ranges

Bid Range

Survey Question________	$0-14,999	$15,000-75,499	$75,000 and greater	No submitted bid
Computer Use Own a Computer	0.95	1.00	1.00	0.89
Personal Use	0.89	0.94	0.87	0.78
Farm Communications	0.63	0.94	0.80	0.78
Gather Farm Information	0.58	0.76	0.73	0.67
Purchase Farm Inputs	0.11	0.41	0.60	0.28
Keep Farm Records	0.68	0.94	0.93	0.78
Uses of Records Tax Purposes	1.00	1.00	0.93	1.00
Enterprise Analysis	0.65	0.65	0.80	0.61
Secure Loans	0.94	0.94	1.00	0.61
Evaluate Farm Performance	0.82	0.82	1.00	0.78
Investment Decisions	0.76	0.76	0.80	0.61
Budget Preparation	0.76	0.76	0.93	0.61
Capital Purchases	0.94	0.94	0.93	0.83
Tax Record Use Store Only	0.68	0.65	0.67	0.61
Measure Farm Performance	0.11	0.41	0.27	0.61
Manage Taxable Income	0.42	0.88	0.80	0.78
Decide Income Transfer Family Living Expenses	0.11	0.12	0.27	0.28

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

Conclusions

Since the 1930s, farmers have been exhorted to practice good financial record keeping due to the
valuable information records can provide a farming operation. However, very little has been
known regarding the value farmers place on their financial information and the determinants of

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