Operating Expense, Operating Income, and Capital Transactions Pages 914

1
Working with the AgFFA Record Book
A Resource for Online Users
Developed by Kristie Weller, Undergraduate
Technician, IMS-TAMU Reviewed by Larry Ermis,
Curriculum Specialist, IMS-TAMU
2
Operating Expense, Pages 9-10
3
Pages 9 and 10 relate only to those students that
have entrepreneurship SAEPs.
4
Definition of Operating Expense
5
Click pages 9 10, Operating Expense, in the
blue banner window to get this page.
6
Click Select an Enterprise. If you entered
an enterprise on page 1, then it is listed here.
Select the enterprise.
7
You are now at this screen. Enter the date you
bought the item, what you bought, and how much of
that item you bought.
Enter the amount. For example 1 head or 1 bag
Enter the date. For example 08/04
Enter what you bought. For example Market
Hog or Feed
8
Now, you must decide where to enter the cost of
the item. Five column headings describe
different costs.
Inventory Purchased for Resale
Cash Operating (Feed)
Non-Cash Operating (Feed)
Cash Operating (Other)
Non-Cash Operating (Other)
9
Definition of Inventory Purchased for Resale
If you purchased a pig to raise and then exhibit
at the county livestock show, then you would list
the price of the pig under this title. The same
goes for any animal purchased for this reason.
This also applies to animals that are purchased
to be fed and then sold to a feedlot.
10
Definition of Cash Operating (Feed)
If you purchased feed for your market animal or
for your herd and paid CASH, then you will list
the price of the feed under this title.
11
Definition of Non-Cash Operating (Feed)
If you rent a pasture from your
parents/relative/neighbor for your livestock to
graze in and dont pay cash for it, but rather
have a trade agreement set up between yourself
and the owner of the pasture, then you would
enter the rent price in this column. This also
applies to any other type of trade or exchange
system set up between yourself and a second party
where you receive the feed for your livestock.
12
Definition of Cash Operating (Other)
If you had to purchase anything else to be used
with your animal(s) and paid CASH for it, then
the price of the item is listed in this column.
This includes things like wormer, other
medication, vet bills, entry fees for livestock
shows, and pen rent.
13
Definition of Non-Cash Operating (Other)
If you purchased anything else other than feed to
be used with your animal(s) such as the items
listed on the previous slide, but did not pay
cash because of an agreement you have set up with
the provider, then the price is listed in this
column.
14
Heres an example.
The market barrow will later be sold. The feed
and wormer were both bought at the feed store and
paid for with cash. The hay was given to you
from your uncle in exchange for labor. The
veterinarian gave the penicillin shot free of
charge.
15
The Total Value and Totals are computer
generated. You do not have to calculate these.
16
The online system allows you to enter five rows
at a time.
Click the Update Operating Expenses button when
you have finished or to get more blank rows.
17
Additional Help

• If you need more help, you can find instructions
  for each page at the top of the page. It is in
  blue text and says section instructions.
  Clicking on it will get you another window of
  information to help you finish the page.
• If you still need help, contact your agriscience
  teacher.
• Definitions of key words used in this record book
  are in the Glossary, pages 25-28.