Business records, evaluation, quantification and business analysis of family farms

Abstract

Family farms can be considered as a primary subject of agricultural production in Serbia. In its efforts to join the European Union, Serbia has made it clear that the agricultural sector needs to go through fundamental changes. Namely, this process will be quite difficult because it implies the implementation of organizational and economic measures to comply with EU standards. Particularly complex situation on the farms is in the area of business records and business analysis of agricultural family farms. This situation is very unfavorable for the owners because they can neither quantify the investment nor the achieved results. The situation is especially complicated when family farms ask for funds on any grounds. Then the providers of funds have almost no idea of the farm business performance, economic power and its prospects. Any system of farm business records would significantly improve this situation on family farms. The methodology of this paper is based on the questionnaire and obtained data, which will be processed and implemented on family farms.

Keywords

• family farms
• business records
• economic power