Explore the importance of farm budgeting in agr... - JSS1 Agricultural science Farm Budgeting and Financial Management Question

Farm budgeting is crucial in agriculture as it:

  - Optimises Resource Allocation: Helps farmers allocate resources efficiently, balancing income and expenditure.

  - Financial Planning: Provides a roadmap for financial decisions, aiding in achieving economic sustainability.

  - Risk Management: Identifies potential financial risks, allowing farmers to implement strategies for risk mitigation.