Administration costs include accountancy fees, banking and legal expenses, postage, stationery, subscriptions and telephone. Contracts paid refers to expenditure on contracts such as harvesting. Capital and land development contracts are not included. Other cash costs include stores and rations, seed purchased, electricity, artificial insemination and herd testing fees, advisory services, motor vehicle expenses, travelling expenses and insurance. cash costs’ ‘Other may comprise a large proportion of total cash costs, but individually the components are small overall and are not listed. cash receipts Total of revenues received by the farm business during the financial year, including from sale of livestock, livestock products and crops and value of livestock transfers off a property. Includes revenue received from agistment, compensation, contracts, government assistance payments, insurance claims, plant hire, rebates, refunds, royalties and share farming. Financial performance measures Build-up in trading Closing value of all changes in inventories of trading stocks during the stocks financial year. Includes value of any change in herd or flock size or in stocks of wool, fruit and grains held on the farm. It is negative if inventories are run down. Depreciation of Estimated by the diminishing value method, based on replacement cost farm improvements and age of each item. Rates applied are standard rates allowed by the Commissioner of Taxation. Farm business Value of owned capital less farm business debt at 30 June. Estimate is equity based on those sample farms that have complete data on farm debt. Farm business Farm cash income plus in trading stocks, less depreciation and profit the imputed value of the owner–manager, partner(s) and family labour. Farm cash income Difference between total cash receipts and total cash costs. Farm equity ratio Calculated as farm business equity as a percentage of capital at 30 June. Imputed labour Payments for owner–manager and family labour may not indicate actual cost work input. An estimate of the labour input of the owner–manager, partners and their families is calculated in work weeks and a value is imputed at the relevant Federal Pastoral Industry Award rates.
Administration costs include accountancy fees, banking and legal expenses, postage, stationery, subscriptions and telephone. Contracts paid refers to expenditure on contracts such as harvesting. Capital and land development contracts are not included. Other cash costs include stores and rations, seed purchased, electricity, artificial insemination and herd testing fees, advisory services, motor vehicle expenses, travelling expenses and insurance. ‘Other cash costs’ may comprise a large proportion of total cash costs, but individually the components are small overall and are not listed. cash receipts Total of revenues received by the farm business during the financial year, including from sale of livestock, livestock products and crops and value of livestock transfers off a property. Includes revenue received from agistment, compensation, contracts, government assistance payments, insurance claims, plant hire, rebates, refunds, royalties and share farming. Financial performance measures Build-up in trading stocks Closing value of all changes in inventories of trading stocks during the financial year. Includes value of any change in herd or flock size or in stocks of wool, fruit and grains held on the farm. It is negative if inventories are run down. Depreciation of farm improvements Estimated by the diminishing value method, based on replacement cost and age of each item. Rates applied are standard rates allowed by the Commissioner of Taxation. Farm business equity Value of owned capital less farm business debt at 30 June. Estimate is based on those sample farms that have complete data on farm debt. Farm business profit Farm cash income plus in trading stocks, less depreciation and the imputed value of the owner–manager, partner(s) and family labour. Farm cash income Difference between total cash receipts and total cash costs. Farm equity ratio Calculated as farm business equity as a percentage of capital at 30 June. Imputed labour cost Payments for owner–manager and family labour may not indicate actual work input. An estimate of the labour input of the owner–manager, partners and their families is calculated in work weeks and a value is imputed at the relevant Federal Pastoral Industry Award rates.
AustVegGrwFrmEcoSurvey20151208_v1.0.0.docx