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Measuring Farm Sector Wealth and Income: Data Comparisons for Illinois Farms

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  • Kevin W. Koenigstein
  • David A. Lins

Abstract

The farm sector balance sheet, income statement, and the Farm Costs and Returns Survey (FCRS) data are utilized to evaluate the financial conditions of American agriculture. This study compares estimated balance sheet and income statements using USDA and FCRS constructs with actual farm records for farms participating in the Farm Business Farm Management (FBFM) record-keeping program. Results suggest a tendency for USDA and FCRS to report lower amounts of both assets and liabilities than FBFM records show, but this is explained in part by the inclusion of only farm business assets in the FCRS and USDA data sets. Income estimates do not vary greatly between the data sources.

Suggested Citation

  • Kevin W. Koenigstein & David A. Lins, 1990. "Measuring Farm Sector Wealth and Income: Data Comparisons for Illinois Farms," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 12(2), pages 305-318.
    • Handle: RePEc:oup:revage:v:12:y:1990:i:2:p:305-318.
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    File URL: http://hdl.handle.net/10.1093/aepp/12.2.305
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    Cited by:

    1. Blank, Steven C., 2005. "Hedging with off-farm income: implications for production and investment decisions across farm sizes," 2005 Annual Meeting, July 6-8, 2005, San Francisco, California 291741, Western Agricultural Economics Association.
    2. Steven C. Blank & Danny Klinefelter, 2012. "Keeping ARMS relevant: increasing its usability," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 72(2), pages 222-232, July.

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