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Explain five advantages of budgeting in farming

Explain five advantages of budgeting in farming

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john
Advantages of budgeting in farming

- It helps the farmer in decision making.

- It enables the farmer to predict future returns so as to plan ahead.

- It helps the farmer to avoid incurring losses by investing in less profitable enterprises.

- It enables farmers to secure loans from financial institutions.

- It ensures a periodic analysis of the farm business.

- It acts as a record which can be used for future reference.

- It pinpoints efficiency or weaknesses farm operations.
john3 answered the question on December 14, 2017 at 08:03

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