How does the farm sector balance sheet differ from individual or corporate balance sheets?
The balance sheet of the farm sector differs in two important respects from an individual or a corporate balance sheet. • Unlike other balance sheets, the farm sector balance sheet lists all assets at the current market value instead of the book value or the initial purchase price. Therefore, the values of the farm sector balance sheet cannot be compared with those of accounts using book values. • Most balance sheets include only those resources held by an individual or corporation, but the farm sector balance sheet includes all farm assets and debt regardless of ownership.
