Discuss the components of a farm budget - JSS1 Agricultural science Farm Budgeting and Financial Management Question

Components of a farm budget include:

  - Income Projections: Estimates of revenue generated from farming activities, including crop sales and other income sources.

  - Expenditure Projections: Allocation of resources for various farm activities, covering costs and expenses.

 Income and expenditure projections contribute to effective financial planning by:

   - Providing a comprehensive overview of the farm's financial landscape.

   - Serving as a basis for decision-making, ensuring resources are allocated efficiently.

   - Facilitating a balanced and sustainable financial plan.