The production and processing of food, creation of the means of production for agriculture and food industry, as well as related services in other words, the entirety of agribusiness have their own, distinct specificity. Unfortunately, from the viewpoint of a producer or a financier, a disadvantageous one. Agribusiness tends to be a difficult endeavor, much more so than other businesses due to inherent, natural (in the most literal meaning of this word) factors, leading to high expenditures (including costs), long production cycles, long payback periods and various risks not present in any other business activity. Therefore, the topic of agribusiness finance is very complex and much wider than, say, the finances of a business producing industrial goods, such as consumer electronics, home appliances or footwear. Agribusiness finance issues are covered somewhat extensively in subject literature, but at the same time in a rather fragmented manner. Up to this point, there has been no major work applying financial sciences to the sphere of agribusiness. This textbook is therefore a modest and pioneering attempt to fill this theoretical, educational and practical void. Comprehensive and up-to-day textbook covering all aspects of agribusiness finances. Authors discuss EU Common Agricultural Policy, social and property insurance in agriculture, financial realities of agricultural enterprises and rural local governing bodies, cooperative and commercial banking activity in agriculture and agribusiness, as well as agribusiness enterprises as they relate to financial markets. This textbook provides crucial knowledge to students of: Finance and accounting (economics of food industry, insurance) Economics (economics of food industry, economic system and organization of agricultural enterprises, agricultural policy). Management (economics of food industry, economic system and organization of agricultural enterprises). This book is relevant to both researchers in economy and finances, and practitioners active in agribusiness or related industries. What students of economics, as well as finances and accounting, and many others should find interesting are the matters covered and results of their analysis, and also vast biographic notes provided as references to in-depth inquiries into agribusiness. From praise by professor Alfred Janc I highly value this book for its methodology and merit. I also believe it will be useful for both students and researchers and practitioners of business who wish to learn more about agribusiness finances. From praise by professor Janusz

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Spis treści

Agribusiness Finance eBook -- spis treści

• Cover
• Strona tytuÅ‚owa
• Strona redakcyjna
• Table of contents
• Introduction
• Chapter 1. Fathers of agribusiness finance
  • 1.1. Professor WÅ‚adysÅ‚aw Grabski (18741938)
  • 1.2. Professor Ryszard Manteuffel (19031991)
  • 1.3. Professor Stefan Ignar (19081992)
  • Supporting literature
• Chapter 2. Agribusiness the term, its scope and specificity
  • 2.1. The concept of agribusiness
  • 2.2. A historical perspective on agribusiness
  • 2.3. The structure of Polands agribusiness and its changes
  • Supporting literature
• Chapter 3. Common Agricultural Policy of the European Union as a form of financial support for agriculture and rural areas
  • 3.1. Why does agriculture require financial support?
  • 3.2. The basis of agricultural interventionism
  • 3.3. Objectives and instruments of influence on agriculture and rural development
  • 3.4. Management of agricultural policy programs
  • 3.5. Establishing the scope of agricultural support
  • 3.6. Objectives and principles of the common agricultural policy
  • 3.7. Direction of changes in the common agricultural policy of the European Union
  • 3.8. Financial support for rural development
  • 3.9. Mechanisms, instruments and costs of the common agricultural policy
  • 3.10. Market and price policy
  • 3.11. The agrimonetary system
  • 3.12. Direct payments key instrument of the first pillar
  • 3.13. Specific and special payments
  • 3.14. Second pillar of the common agricultural policy
  • 3.15. System and scope of financial support for agriculture and rural development
  • 3.16. The common agricultural policy in the future
  • 3.17. EU financial transfers in support of agriculture and rural areas in Poland
  • Supporting literature
• Chapter 4. Farm finances selected problems
  • 4.1. Evolution and integration of the Farm Accountancy Data Network (FADN) and agricultural accounting in Poland
    • 4.1.1. Beginnings of agricultural accounting in Poland
    • 4.1.2. The development of agricultural accounting after regaining independence
    • 4.1.3. Agricultural accounting network in the period of a centrally planned economy
    • 4.1.4. Agricultural accounting systems during the time of political transformation and preparation for integration into the European Union
    • 4.1.5. European system for monitoring farm income Farm Accountancy Data Network
    • 4.1.6. The organizational structure and tasks of the Polish FADN
    • 4.1.7 The future of agricultural accounting in Poland
  • 4.2. Introduction to financial analysis in agriculture
  • 4.3. Financial analysis of farms of natural persons
  • 4.4. Financial analysis of multi-crop agricultural enterprises
  • 4.5. Specificity of farm taxation
    • 4.5.1. A brief history of taxing agriculture
    • 4.5.2. Taxation of agriculture in Poland after 1984
    • 4.5.3. Forest tax
    • 4.5.4. Taxation of agricultural real estate
  • Supporting literature
• Chapter 5. Finance of agribusiness enterprises
  • 5.1. Financial effectiveness of agribusiness enterprises measurement methods
    • 5.1.1. Financial effectiveness of business entities in theoretical terms
    • 5.1.2. Key concepts and measures of effectiveness
    • 5.1.3. Measures and determinants of financial effectiveness
    • 5.1.4. Specific measures of the financial effectiveness of agricultural co-operatives
    • 5.1.5. Determinants of financial effectiveness
  • 5.2. Means of increasing financial results
    • 5.2.1. The principle of rational management ex post approach
    • 5.2.2. The principle of rational management ex ante approach
    • 5.2.3. Financial result improvement and growth strategy
    • 5.2.4. The level and directions of changes in costs and production value
    • 5.2.5. Opportunities and threats related to the means of improving financial results
    • 5.2.6 The life matrix of an enterprise
  • 5.3. Development and bankruptcy of enterprises implications for agribusiness
    • 5.3.1 Enterprise bankruptcy in the past and today
    • 5.3.2. Economic and legal bankruptcy
  • 5.4. Causes of enterprise bankruptcy
  • 5.5. Symptoms of a deteriorating financial situation of an agribusiness enterprise
  • 5.6. Bankruptcy process of an agribusiness enterprise
  • 5.7. Evolution of bankruptcy prediction models across the world
    • 5.7.1. One-dimensional models
    • 5.7.2. Multi-dimensional models
  • 5.8. Bankruptcy prediction models in Poland
    • 5.8.1. PogodziÅ„ska and Sojak model
    • 5.8.2. Gajdka and Stos model
    • 5.8.3. Hadasik models
    • 5.8.4. Wierzba model
    • 5.8.5. StÄ™pieÅ„ and StrÄ…k models
    • 5.8.6. HoÅ‚da model
    • 5.8.7. INE PAN models (by MÄ…czyÅ„ska and Zawadzki)
    • 5.8.8. Appenzeller and Szarzec model
    • 5.8.9. Hamrol, Czajka and Piechocki (Poznan) model
    • 5.8.10. Prusak models
    • 5.8.11. Balina models
    • 5.8.12. Juszczyk model
  • 5.9. Bankruptcies of agribusiness enterprises
    • 5.9.1. Life cycle of an enterprise and the natural evolution theory in agribusiness
    • 5.9.2. Indications of bankruptcy in agribusiness
  • 5.10. Personnel costs in agribusiness enterprises
    • 5.10.1. Costs of labor
    • 5.10.2. Costs of occupational health and safety
    • 5.10.3. Costs of workplace accidents
    • 5.10.4. Accident insurance costs risk categories
  • 5.11. Changes in the financial value of the assets of agribusiness enterprises in Poland
  • 5.12. Depreciation costs in agribusiness
    • 5.12.1. The concept of depreciation costs
    • 5.12.2. Depreciation costs from a mathematical viewpoint
    • 5.12.3. Life cycle of fixed assets, a model of capital creation
    • Example
    • 5.12.4. Methods of calculating depreciation
    • 5.12.5. Depreciation of seasonally used fixed assets
    • Example
  • Supporting literature
• Chapter 6. The role of property insurance in risk management in agriculture
  • 6.1. Introductory notes and more important classifications
  • 6.2. The role of the state and the market in the insurance protection of the property interests of entities in the agricultural sector
  • 6.3. Insurance for the agricultural sector
    • 6.3.1. Insurance for the agricultural sector in the planned economy scope and methods of protection
    • 6.3.2. Insurance for the agricultural sector under market economy conditions
  • 6.4. Insurance of agricultural crops and livestock
    • 6.4.1. Those entitled to provide insurance services and to benefit from subsidies to insurance of agricultural crops and livestock
    • 6.4.2. The scope and amount of insurance premium subsidies and other forms of assistance than provided for in the Act on the insurance of agricultural crops and livestock
  • 6.5. Insurance gap in insurance offers for farms and agribusiness enterprises
  • 6.6. Property insurance prospects in agribusiness
  • Supporting literature
• Chapter 7. Social insurance for farmers and its specifics
  • 7.1. A short history of insurance for farmers
  • 7.2. Establishment of a new agricultural social insurance system
  • 7.3. Sickness, accident and maternity insurance
  • 7.4. Retirement and disability insurance
  • 7.5. KRUS finances
  • Supporting literature
• Chapter 8. Finance of institutions within the agribusiness environment
  • 8.1. Producer group finances
    • 8.1.1. Agricultural producer groups and fruit and vegetable producer groups and organizations
    • 8.1.2. The legal basis for the functioning of agricultural producer groups (APGs) and the principles of financial aid
    • 8.1.3. Legal basis for the functioning of fruit and vegetable producer groups and organizations and the rules for granting financial aid
    • 8.1.4. Responsibility for APG liabilities
  • 8.2. Finances of local governments of rural municipalities
    • 8.2.1. Legal basis for the functioning of rural municipalities
    • 8.2.2. Financial management of rural municipalities
    • 8.2.3. Methods of assessing the financial situation of rural municipalities
  • 8.3. Allocation of EU funds in 20142020 for the development of rural municipalities
  • 8.4. The functioning and finances of municipal auxiliary units, unions, agreements and inter- municipal associations
  • Supporting literature
• Chapter 9. Cooperative and commercial banking in financing the development of agribusiness in Poland
  • 9.1. A brief history of cooperative banking
    • 9.1.1. Cooperative banking in the world
    • 9.1.2. Cooperative banking in Europe and Poland
  • 9.2. Preferential loans for rural areas and agriculture
  • 9.3. Commercial banks in financing agribusiness in Poland
    • 9.3.1. Alior Bank in financing agribusiness
    • 9.3.2. mBank in financing agribusiness
    • 9.3.3. Pekao S.A. in financing agribusiness
    • 9.3.4. Bank BGÅ» BNP Paribas in financing agribusiness
    • 9.3.5. PKO BP S.A. in financing agribusiness
    • 9.3.6. Credit Agricole Bank Polska S.A. in financing agribusiness
    • 9.3.7. ING Bank ÅšlÄ…ski S.A. in financing agribusiness
  • 9.4. The importance of agribusiness financing for Polish cooperative banks
  • Supporting literature
• Chapter 10. Macroeconomic determinants of agribusiness in Poland
  • 10.1. The impact of key macroeconomic factors on the level of ROA and ROE in agribusiness enterprises
  • 10.2. Macroeconomic determinants of renewable energy production in agribusiness
    • 10.2.1. Renewable energy in agribusiness
    • 10.2.2. Financing renewable energy in agribusiness
  • 10.3. The Stock Market and the financialization of agribusiness enterprises
    • 10.3.1. History and structure of the Warsaw Stock Exchange Group (WSE Group)
    • 10.3.2. Types of markets and indices used on the WSE
    • 10.3.3. Characteristics of the WSE compared to European stock exchanges
    • 10.3.4. WIG-food index
    • 10.3.5. Characteristics and valuation of companies in the food sector
    • Example Valuation of the company Wawel S.A.
    • 10.3.6. Financialization and changes in the way food companies operate
  • 10.4. Dilemmas of subsidizing and taxing agriculture
  • Supporting literature
• Summary
• Appendices
• Bibliography
• About Author
• Footnotes