The purpose of an enterprise budget is to provide a producers with an estimate of potential revenues, expenses, and profit for a single enterprise. Enterprise budgets are an excellent tool for producers and also very important for beginning farmers. This session will discuss concepts like accounting vs. economic profit, opportunity cost, and different types of cost. This session will culminate in the development of an enterprise budget for an enterprise on your farm.
2:00pm - 4:00pm - Enterprise Budgets For Beginning Farmers
Steve Whittington - Michigan State University Extension
Jon LaPorte - Michigan State University Extension
Madelyn Celovsky - Michigan State University Extension
Sarah Fronczak - Michigan State University Extension
Christina Curell - Michigan State University Extension
Steve Whittington, MSU Extension
Madelyn Celovsky, Michigan State University Extension
Christina Curell, MSUE
Sarah Fronczak, Michigan State University Extension