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

Author

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  • Cole R. Gustafson
  • Elizabeth Nielsen
  • Mitchell J. Morehart

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.

Suggested Citation

  • Cole R. Gustafson & Elizabeth Nielsen & Mitchell J. Morehart, 1990. "Comparison of the Financial Results of Record-Keeping and Average Farms in North Dakota," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 12(2), pages 165-172.
    • Handle: RePEc:oup:revage:v:12:y:1990:i:2:p:165-172.
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    File URL: http://hdl.handle.net/10.1093/aepp/12.2.165
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    Citations

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    Cited by:

    1. Unknown, 1998. "Commodity Costs and Returns Estimation Handbook (entire book-condensed file)," Commodity Costs and Returns Estimation Handbook,, Iowa State University.
    2. Todd H. Kuethe & Brian Briggeman & Nicholas D. Paulson & Ani L. Katchova, 2014. "A comparison of data collected through farm management associations and the Agricultural Resource Management Survey," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 74(4), pages 492-500, October.
    3. Gustafson, Cole R. & Chama, Sydney L., 1992. "Savings and Investments of North Dakota Farmers," Agricultural Economics Miscellaneous Reports 51171, North Dakota State University, Department of Agribusiness and Applied Economics.
    4. Unknown, 1998. "References/Literature Cited," Commodity Costs and Returns Estimation Handbook,, Iowa State University.
    5. Li, Xi & Paulson, Nicholas & Schnitkey, Gary, 2015. "Is Farm Management Skill Persistent?," 2015 Conference, August 9-14, 2015, Milan, Italy 212047, International Association of Agricultural Economists.
    6. Andersson, Hans & Olson, Kent D., 1992. "A Comparison Of Minnesota'S Farm Business Management Association Members And The Usda'S Farm Costs And Returns Survey," Economic Reports 13084, University of Minnesota, Department of Applied Economics.

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