Gross Farm Income
Gross farm income is the total of all income accruing to
the farm sector from both cash and non-cash sources. Gross
farm income
can be derived from the value-added table as the sum of two
line items: final agricultural sector output plus direct
government
payments. The components of final agricultural sector output
presented in a value-added table provide
a detailed listing of the components.
Value Added and Traditional Formats for Presenting Farm
Income
For the convenience of those who may want to have a thorough
understanding of the relationships between components
under the value-added and
older, more traditional formats used in the presentation
of the farm income accounts, a crosswalk is available
for those who wish to explore the relationships between the
present value-added format and the traditional format.
The most common requests are for "gross farm income" and "total
production expenses." As mentioned about, gross
farm income can be derived from the value-added table
as the sum of two items-"final
agricultural sector output" and "direct government
payments." Total
production expenses can then be derived as gross farm
income less net farm income.
|
