TY - JOUR
T1 - Using simulated farm case studies to teach financial and risk management concepts
AU - Davis, Todd D.
AU - Mark, Tyler B.
AU - Shepherd, Johnathan D.
N1 - Publisher Copyright:
© 2018 Extension Journal Inc.
PY - 2018/2/1
Y1 - 2018/2/1
N2 - Two simulated farm case studies provide a means for teaching financial and risk management strategies to western Kentucky grain farmers. Aggregate financial data for 227 grain farms define the case studies, which illustrate how cost and debt affect cash flow and working capital over a 5-year period. Responding to the case studies, farmers were able to discuss these financial concepts in a group setting among competitor neighbors without revealing personal business information. The use of composite financial data engaged the farmers and allowed for improved discussion on risk management products and the potential to protect working capital over multiple years. Extension professionals can apply the methods described.
AB - Two simulated farm case studies provide a means for teaching financial and risk management strategies to western Kentucky grain farmers. Aggregate financial data for 227 grain farms define the case studies, which illustrate how cost and debt affect cash flow and working capital over a 5-year period. Responding to the case studies, farmers were able to discuss these financial concepts in a group setting among competitor neighbors without revealing personal business information. The use of composite financial data engaged the farmers and allowed for improved discussion on risk management products and the potential to protect working capital over multiple years. Extension professionals can apply the methods described.
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M3 - Article
AN - SCOPUS:85042416293
SN - 1077-5315
VL - 56
JO - Journal of Extension
JF - Journal of Extension
IS - 1
M1 - 1TOT1
ER -