Track the changing value of your herd when full cost accounting and recordkeeping is impractical.

The Unit-Livestock-Price Method of Inventory Accounting

Since cost accounting for livestock and other farm commodities can be difficult, agricultural producers can also use the farm-price method to track their inventory. Here’s how it works.

What Is the Farm-Price Method of Inventory Accounting?

In a volatile marketplace, the lower of cost and market method can provide stability and consistency, but the nature of farm inventories can also sometimes make it impractical. 

The Lower of Cost and Market (LCM) Method of Inventory Accounting

Valuing inventories at cost helps you focus on true performance rather than short-term market price swings—but the recordkeeping involved can also be significant.

The Cost Method of Inventory Accounting: A Simple Guide

A properly structured cropland lease puts expectations into writing, helping tenants expand their operation while protecting the tenant-owner relationship.

A Practical Guide to Cropland Leases

Maintaining detailed inventories for pesticides, herbicides, fungicides and other chemicals used on the farm can help improve yields, increase efficiency and satisfy important environmental recordkeeping requirements.

Chemical Inventory and Recordkeeping for Agricultural Producers

Smart fertilizer inventory management and recordkeeping can help maximize yields, protect ecosystems and ensure compliance with important environmental regulations.

A Producer’s Guide to Fertilizer Inventory and Recordkeeping

When it comes to structuring their business, many agricultural producers prefer to start simple, beginning as sole proprietors or entering partnerships. Here’s what that means for your operation. 

Sole Proprietorships and Partnerships: A Guide for Agricultural Producers

Keeping accurate seed inventory records can help your operation save money, improve yields and meet organic recordkeeping requirements.

Taking Care of Your Seeds: How to Manage a Seed Inventory

Do you have enough feed to last the feeding season? And if not, should you purchase more or change your feeding program? Your feed inventory will tell you.

Feed Inventory Management: Setup, Best Practices and Calculations

Understanding your cost of production is crucial for benchmarking your performance, evaluating future purchases and making better marketing and management decisions.

Calculating the Cost of Production for a Cow-Calf Operation

A CPA can help with your bookkeeping, taxes, accounting and business planning, but bringing one on board can involve a significant expense. Here’s what you need to know before hiring one.

How Much Will a CPA Cost My Agricultural Business?

Choosing the right business structure can affect your liability if something goes wrong, your taxes, how you pass the business onto the next generation and your flexibility when bringing in investors. 

How to Choose the Right Business Structure for Your Farm or Ranch 

Equine insurance helps protect owners from devastating financial losses. But before you buy a policy, you’ll want to know what types of coverage exist and what’s included.

A Simple Guide to Equine Insurance

Getting these documents together before meeting with an expert can save you time and money and lead to better decisions.

A Document Checklist for Farm and Ranch Succession Planning

Livestock leases can help owners earn additional income while providing lessees with new genetics and expanded production without having to purchase more animals outright.

A Simple Guide to Livestock Leases

Caitlyn Kelly

Succession planning is about much more than “handing over the keys.” It has huge tax implications for retiring agricultural producers and their successors.

Tax Strategies for Farm & Ranch Succession Planning

Federal crop insurance is a crucial risk management tool, but the way it works can get complicated.

A Simple Guide to Crop Insurance

Livestock insurance is an important safety net for farmers and ranchers, protecting livelihoods from unexpected losses, disease, disaster and other risks. Here’s how it works.

A Simple Guide to Livestock Insurance

Transitioning an agricultural operation—whether a farm, ranch, or other ag-based business—can be a complicated and daunting process. Familiarizing yourself with these basic succession planning concepts is a great place to start.

The Succession Planning Starter Kit: Checklist, Definitions and Resources

Land lease agreements or ‘grazing leases’ can be a valuable tool, giving new farmers access to land they might not be able to buy outright. Here’s what you can expect to find in a typical agreement.

A Simple Guide to Grazing Leases

At Ambrook we think that one of the most important, and difficult, challenges for producers is measuring the true cost of production. This is the amount that it costs to produce inclusive of direct costs, operating expenses, financing costs, management labor, and so on. 

Case Study: California Cow-Calf

Part One of Managerial Accounting for Raising Livestock for Cow-calf, Dairies, and other Breeding Stock Operations

Why Managerial Accounting is Important

Grazing or land lease agreements can be a valuable tool for new farmers. Here's what to look out for before you sign one.

Summarize animal management and stock flow.

Managerial Stock Flow Workbook

Learn core accounting concepts for livestock operations through detailed examples.