Understanding a livestock trading timetable

Farm Table says:

The livestock trading timetable supports management control by monitoring livestock inventory at crucial times throughout the year.​

The livestock trading timetable supports management control by monitoring livestock inventory at crucial times throughout the year.​

It is utilised to calculate the enterprise’s gross profit, a vital element of the income statement in management accounting.

How to use a livestock trading schedule

A livestock trading schedule monitors the movement of livestock inventory by category over a specified period. Some businesses track these movements monthly or quarterly, but if you are just starting, it is best to run the livestock schedule over a financial year.

The livestock trading schedule supports management control by tracking inventory at critical points throughout the year. It is essential for calculating the enterprise gross profit, a key figure in the income statement used in management accounting.​ Gross profit helps adjust earnings by considering not only sales but also purchases and changes in the value of livestock inventory.

What you will need to use this tool:

  • Accurate records of livestock numbers, preferably categorised by livestock class. If such records are not available, this is an excellent starting point for improving your inventory management.
  • Sales numbers and sales values per head.
  • Purchase numbers and purchase values per head.
  • Records of births or natural increases and estimates of deaths.

What are the outputs of the tool?

  • A clear and concise record of inventory showing livestock movements.
  • A livestock reconciliation to verify the accuracy of the numbers.
  • A calculation of gross profit that can be incorporated into your management accounts.

Contact details for Young Farmer Business Program

Name: Young Farmer Business Program

Email: young.farmer@dpi.nsw.gov.au

No taxonomy found for this post type.
Iben Blom Hansen
Iben Blom Hansen

Iben is a world-class Communication Designer who brings with her a breadth of experience and Northern European design sensibilities to the Australian Agriculture sector.

Need assistance with your Digital Marketing? Talk to Farm Table today.

Scroll to Top