Preparation should include

• statement of short- and long-term goals
• plan for managing money over a short- and long-term period
• plan that allows for capital improvements, investments, expansion, reserves, and future needs
• explanation of variable vs. fixed costs and how budgets guide business planning. 

Process/Skill Questions:

• What kinds of items fall into the short-term budget category? Long-term budget category?
• What resources are available to help prepare a budget?
• What are some strategies to help one maintain a budget?

Teacher Resources:

• Sustainable Agriculture Research and Education
  • Enterprise Budgets for Diversified Farms
  • Creating an Enterprise Budget
  • Putting It All Together
• Ag Decision Maker, Iowa State University Extension and Outreach
• Small-scale Field Grown and Season Extension Budgets, Penn State Extension
• How to Start a Farm: Plan Your Operation, Farmers.gov, USDA