Patrick Harvey’s Post

AGRICULTURAL LAWS TO KNOW 1. Never target high seasons; high seasons come with their own challenges. Be a farmer, not a gambler. 2. Choose at least three main crops and a crop rotation plan. Switching from one crop to another is not directly in your pocket. 3. Plan your farm and always have crops at different stages of age to ensure a constant supply. 4. No crop is profitable in itself; just master the advantages and disadvantages of a particular crop. 5. Having a lot is not a guarantee for successful farming. 6. Have a spraying and manurering plan and stick to it. Never apply agricultural information you get online without consulting your agronomist. 7. Always have a farm plan.

Australia's agricultural output has dropped by 15% this financial year due to dry conditions and soft international grain prices, Financial Review reported. https://lnkd.in/gTTwyc5Y #australia #grains #crops #agriculture #feedingredients #animalfeed #feedindustry #livestock #livestockfarming

"IAS 41Agriculture" IAS 41, or the International Accounting Standard 41, addresses the accounting treatment of agricultural activity. This standard is especially relevant for businesses engaged in agricultural production, such as farming, forestry, and fishing, as it provides guidelines on how to account for biological assets and agricultural produce. Key aspects of IAS 41 include: 1. **Biological Assets:** IAS 41 defines biological assets as living plants and animals, including crops, livestock, and timber. These assets are measured initially at cost and subsequently at fair value less any estimated point-of-sale costs. Fair value changes are recognized in the income statement. 2. **Agricultural Produce:** Once harvested from biological assets, agricultural produce is accounted for at fair value less any estimated point-of-sale costs at the point of harvest. Subsequent changes in fair value are recognized in the income statement. 3. **Government Grants:** IAS 41 provides specific guidance on the accounting treatment of government grants related to agricultural activity. These grants can be recognized as income over the period necessary to match them with related costs. 4. **Disclosure:** The standard mandates comprehensive disclosures, including information about the nature of the entity's agricultural activity, the measurement of biological assets, and the fair value changes recognized during the reporting period. IAS 41 aims to ensure that entities engaged in agricultural activities report their assets and income accurately and consistently. By accounting for biological assets and agricultural produce at fair value, it reflects the economic reality of agriculture, where the value of crops and livestock can change significantly over time. Compliance with IAS 41 is vital for agricultural businesses, as it impacts their financial statements and influences the assessment of their financial performance and asset values. #IFRS #IAS #FinancialReporting #AccountingStandards #GAAP #IFRSUpdates #AccountingPolicy #CorporateAccounting #FinancialStatements #IASB #AccountingPrinciples #InternationalAccounting #AuditAndAssurance #FinancialDisclosure #RevenueRecognition #LeaseAccounting #AssetValuation #FinancialAnalysis #AccountingProfessionals #FinancialRegulation

“The Ogallala Aquifer supports 20 percent of the wheat, corn and cattle produced in the U.S.” To protect this precious water resource, the state is “focused on prolonging the life of the Ogallala Aquifer with locally developed solutions that are farmer-driven and tailored to individual regions based on the health of the aquifer. That’s how it should be. Agriculture driven by local agronomy and the voice of the farmer.

17 LAWS OF FARMING YOU SHOULD KNOW 1. Never target peak seasons, peak seasons come with their own challenges. Be a farmer not a gambler. 2. Choose at least two main crops and a rotational crop plan. Jumping from one crop to another is not right to your pocket. 3. Plan your farm and always have the crops at different age stages, to ensure constant supply. 4. No crop that is not profitable, just master the pro and cons of a particular crop. 5. Having a lot of many is not a licence to successful farming. 6. Have a spray and fertilizer plan and stick to it. 7. Never take advise from agrovets and agrochemical sales agent. Most of them are sales persons and not agronomists. 8.Try as much as possible to cut down on farm expenditure without compromising on produce quality. 9. Never hold back on a produce, if its a quick perishable product. Sell it at the prevailing prices. 10. Never plant a new seed on large scale before doing trials unless you have seen it somewhere. 11. Never entrust your million dollar idea against a farmhand, ensure you are present during critical stages of crop development untill marketing. 12. Never employ a close family member to manage your farm, most of them will fail you. 13. If you are neighbouring farmers plant same crop. 14. Never apply any farming information you get online, without consulting your agronomist. 15. Always have a farm plan. 16. Old is always good. Most of the old seed varieties and chemicals will never disappoint you. 17. Passion in farming is key and will take you far. Be smart with land usage ❤️ #farmerlife #farming #agriculture

Engaging Agriculture: Rangeland and Pasture Update for Spring and Summer in the State of Nebraska Article by Morning AgClips Engaging Agriculture: Rangeland and Pasture Update for Spring and Summer in the State of Nebraska "As we come into early April, it is important to take time to think about rangeland and pasture conditions and make sure grazing plans are ready for the growing season in 2024. Much of the state has seen close to normal precipitation since October 1 (current water year). However, parts of the state, especially counties in the south and east of the state, that experienced drought last summer are still experiencing drier than normal conditions." "Pasture and native rangeland forage production fluctuates as the growing season progresses and is influenced by precipitation, temperature, range health, the previous year’s precipitation and management, and soil nutrients. The amount and timing of spring and early summer precipitation are important factors in determining annual forage production. Using trigger dates can help producers adjust stocking rates if precipitation and the resulting forage production are expected to be below average. Trigger dates will vary depending on the dominant forage." "Areas affected by drought during the previous growing season will likely experience lower forage production even if adequate moisture is available this year. It is important to give range and pasture plants the chance to recover from drought and rebuild energy reserves. To accomplish this, maintain a lower stocking rate post-drought." Link to full article: https://lnkd.in/gavWw_9M

USDA Announces Opening of Application Period for Regional Agricultural Promotion Program Agriculture Secretary Tom Vilsack today announced the Notice of Funding Opportunity for the first tranche of funding under the U.S. Department of Agriculture’s (USDA) new Regional Agricultural Promotion Program (RAPP). USDA is providing up to $300 million in funding in its first year to support eligible projects that enable exporters to break into new markets and increase market share in growth markets. Secretary Vilsack announced today’s Notice of Funding Opportunity at the President’s Export Council, after announcing the establishment of RAPP in October as part of a bipartisan request from the Senate Committee on Agriculture, Nutrition, and Forestry. In total, RAPP is a $1.2 billion program made possible through the Commodity Credit Corporation, which will be made available over five years. “It takes significant investment to open and develop new export markets and this new fund will be dedicated to helping provide that start-up capital so that American exporters can diversify their markets and create new opportunities,” said Secretary Vilsack. “There are many regions of the world – in South and Southeast Asia, Latin America, the Middle East and Africa – where the middle class is growing and the desire for high quality products is increasing. In order to capture those markets from our competitors we need to have a presence, address barriers, and showcase America’s high-quality, agricultural products across the world.” Continue reading at https://lnkd.in/gA6qWcQW.

Agricultural Enthusiasts - Have you discovered the NSW Department of Primary Industries AgTrack - Agricultural and Land Use Dashboard? Dive into the heart of NSW agriculture by selecting your region on the dashboard. Explore valuable insights on regional commodities, rankings, livestock, cropping data, employment, and land use. Agriculture plays a vital role in our state's economy, and this dashboard unveils the unique contributions of various industries. Discover fascinating facts about your local area, such as Hawksbury LGA hosting 61% of the state's cultivated turf farms! Empower yourself with knowledge about the thriving agricultural commodities in your region. Visit the website now to unlock a wealth of information! https://lnkd.in/gqnUugdU #NSWAgTrack #AgricultureInsights #NSWDepartmentofPrimaryIndustries

17 LAWS OF FARMING WE SHOULD KNOW 1. Never target peak seasons, peak seasons come with their own challenges. Be a farmer not a gambler. 2. Choose at least two main crops and a rotational crop plan. Jumping from one crop to another is not right to your pocket. 3. Plan your farm and always have the crops at different age stages, to ensure constant supply. 4. No crop that is not profitable, just master the pro and cons of a particular crop. 5. Having a lot of many is not a licence to successful farming. 6. Have a spray and fertilizer plan and stick to it. 7. Never take advise from agrovets and agrochemical sales agent. Most of them are sales persons and not agronomists. 8.Try as much as possible to cut down on farm expenditure without compromising on produce quality. 9. Never hold back on a produce, if its a quick perishable product. Sell it at the prevailing prices. 10. Never plant a new seed on large scale before doing trials unless you have seen it somewhere. 11. Never entrust your million dollar idea against a farmhand, ensure you are present during critical stages of crop development untill marketing. 12. Never employ a close family member to manage your farm, most of them will fail you. 13. If you are neighbouring farmers plant same crop. 14. Never apply any farming information you get online, without consulting your agronomist. 15. Always have a farm plan. 16. Old is always good. Most of the old seed varieties and chemicals will never disappoint you. 17. Passion in farming is key and will take you far. #farmersfirst #farmingforthefuture #farming #cropscience #agriculture #agricultureinnovation #innovation #agribusiness #successmindset

🌍📝 Understanding epigeal and hypogeal germination is significant in agriculture as it influences planting practices and seedling management. For crops with epigeal germination, where cotyledons emerge above ground, proper soil coverage is crucial to protect them. In contrast, crops exhibiting hypogeal germination may require different planting depths to ensure optimal development. Farmers consider these germination types when deciding on planting techniques, depth, and spacing, ultimately impacting crop establishment and yield. Additionally, this knowledge aids in selecting suitable crops for specific agricultural practices and optimizing resource utilization in farming systems. Further implications involve the optimization of agricultural practices based on the specific needs of crops with epigeal or hypogeal germination. For instance, understanding the depth at which cotyledons emerge can influence decisions on irrigation, fertilization, and pest control. Epigeal crops may be more susceptible to certain pests or diseases, given their above-ground exposure, requiring targeted management strategies. On the other hand, hypogeal crops might face different challenges related to soil-borne issues. This knowledge also plays a role in crop rotation planning, as it helps farmers diversify and manage potential issues associated with different germination types in their fields over successive seasons. Ultimately, a scientific understanding of epigeal and hypogeal germination contributes to more informed and efficient agricultural practices. ©®📠✉️ agricconsultant995@gmail.com #EnsuringFoodSecurity #YourFavouriteFarmer 24/7 👑 #sustainableagriculture #farmingforthefuture #farminglife