Comparison of the Financial Results of Record-Keeping and Average Farms in North Dakota

Cole Gustafson, Elizabeth Nielsen and Mitchell J. Morehart

Review of Agricultural Economics, 1990, vol. 12, issue 2, 165-172

Abstract: Participation in a farm management association enhances members' recordkeeping abilities and provides standards of performance to measure achievement. However, these data can only be generalized to broader populations of farmers if association members are a representative sample. This study compares the financial characteristics of North Dakota farmers belonging to a recordkeeping program and those randomly surveyed by USDA. Association members had significantly different financial characteristics as compared to average farmers in the state. Member farms had substantially more acreage, hired labor, gross income, expenses, assets and liabilities. Equity levels on recordkeeping farms were higher but profitability and returns to equity were statistically lower.

Date: 1990
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