Learners listen to an explanation of how to perform an inventory of a farm business. They then list their hard assets and human resources by completing worksheets that they save to their personal computers.

Learners read an explanation of the debits and credits of accounting as they relate to T accounts and the accounting equation. Illustrated examples are provided.

Learners examine the accounting equation and view examples of how account items and figures are included in each part of the equation.

Learners examine 10 steps to consider when passing on farm assets including financial security, partnerships, taxes, lease agreements, gifting, and treatment of heirs.