Farmers and the agriculture industry face escalating challenges. Changing government policy, market trends and environmental influences contribute to increasingly complex financial challenges for farm entrepreneurs, who must handle financial issues specific to their industry. Topics include accounting concepts involved in measuring and analyzing business transactions and reporting financial results. Through exercises and agriculture-related case studies, students learn about cash flow management and explore the benefits of commodity futures as a financial tool. Students expand practical accounting skills using accounting software designed specifically for Canadian farms. Students examine succession planning strategies and the advantages provided by tax, law, banking and accounting professionals in planning, establishing clarity and providing guidance for farm businesses.