Agriculture - L2 Flashcards
What was the sticking density that you recommended for the grazing licence?
Based on that the licence only permitting sheep to be grazed, the stocking density was 25 per ha based on rotational grazing
What was the cropping rotation on the farm you did a ag statement for?
WW, 2nd WW, Stubble turnips / cover crop, Spring Barley, OSR
Quite intense but good agricultural ground and good yields
WW = 10 tonnes (milling)
2nd WW = 9 tonnes (feed)
Stubble turnips = grazed
Spring Barley = 7.5 tonnes
OSR = 3.7 tonne
What storage capacities did you use?
Referred to John Nix and ABC -
Wheat = 1.35 m3 per tonne
NEED OTHERS!!
What was the rent for the FBT and how did you come to that figure?
Rent was £150 per acre which was established using comparable evidence. This is on the higher side but the land was grades 1 and 2, therefore higher yielding and likely to be more profitable.
Can you give me some indication of the figures associated with what was included in your ASV?
What rules dictate a stock taking valuations?
How do you consider home produced / reared livestock and crops in an ASV?
How would you value a diary herd?
What is grass silage?
Chopped grass that is then usually clamped and fermented to encourage more sugars to be released. It is used as winter feed for cattle.
What is an NVZ?
A nitrate vulnerable zone is a designated area that is at risk of agricultural nitrate pollution. Rules are imposed on farmers such as, closed periods where they are not permitted to spread organic manures, strict record keeping of spreading, livestock on farm, slurry stores and risk maps.
What is a killing out %?
Determines how much saleable carcase weight is obtainable.
Cattle - 55%
Pig - 75%
Lamb - 45%
What is the Gross Margin for winter wheat (Feed)?
Average yield = £8.3 tonne per hectare
Price = £190 per tonne (£1,577 per ha)
Straw = £188 per ha
OUTPUT = £1,765 per ha
VARIABLE COSTS = £655 per ha
GM = £1110 per ha
What is the Gross Margin for Spring Barley
Why do companies need an ASV?
The reason for valuing stock at the end of an accounting period is to identify and carry forward those costs incurred before that date but which will not give rise to income until a later period. By carrying forward those costs they can be matched with the income when it arises.
What is the basis of valuation for an ASV?
A figure which represents the cost, or if lower, the net realisable value of the stock.
