Welcome to this Farm Accounting 101 presentation on sample accounting entry number 2, recording a farm equipment purchase with a check using the Excel spreadsheet for our financial records. I'm Robert Page, Regional Extension Agent and member of the Farm and Agribusiness Management team with the Alabama Cooperative Extension System at Auburn University. As we've said in earlier presentations, the Farm Accounting 101 series is intended to help Alabama producers improve their farm financial literacy. Farmers like any other small business have the same basic financial transactions every year so we study typical checks and deposits. And we also learn the accounting principles behind these checks and deposits. Today's presentation shows a typical farm check for a farm equipment purchase as it would be entered into an Excel spreadsheet. No entry number 2 is posting check number 2146 for the purchase of a new 8-wheel hay rake for $2,979.45 from a local implement dealer. Our next step is to enter this check into the Excel spreadsheet for this farm so we will switch our view over from the PowerPoint screen to the Excel spreadsheet. Here's our Excel spreadsheet. You notice we're working on tax year 2019. The name of our farm is the APIS Aces Sample Farm and today's date for this particular check is February 7th, 2019. So we enter the date, the check number 2146, the name of the implement dealer and the purchase for the reason for the purchase which was to buy a new hay rake. In column D we enter the total check, credit card, debit card or cash expense amount and in this particular case the check was written for $2,979.45. The last step is to allocate this check to one of our income or expense accounts or an alternative account. In this particular case, this is for a fixed asset. Fixed assets are not entered into expense lines. So let's scroll all the way over to the far right of our expense page and there it is under column AB for other cash usage. We have entered our $2,979.45. Lastly, we take a look, are we in balance? Yes, we've entered a dollar amount in our initial expense column and we've allocated that total expense column to here. Notice this is in sheet two under part two expense. Go to the third section under profit summary and you'll notice that this dollar amount comes over to our other cash adjustments and other cash usages sections of our profit and loss report. So there is no use of this $2,979.45 in our profit and loss report so far. That concludes the Excel spreadsheet portion of it. Now let's go back to our PowerPoint presentation. If you have never used this Excel spreadsheet before, you should be aware that this Schedule F farm income and expense spreadsheet can be downloaded for your own use. Please visit the ACES website at www.aces.edu and select the topic tabs entitled Farming and then Farm Management to find the article entitled Using an Excel spreadsheet for Farm Financial Records. There is a link to this spreadsheet embedded in the article. Now let's briefly review the accounting entry for this check pavement we just entered into Excel. In this example, the Farm Fixed Asset Account went up with a debit entry of $2,945, right there. On the other hand, the cash and bank entry records that the farm balance sheet went down $2,949.45 In other words, farm current assets decreased with this credit entry as it is shown right there. And lastly, like all accounting entries, debit and credit entries must be in balance. In this example, total debits and credits are $2,979.45 for both debits and credits. We close by saying thank you for watching today's presentation on Sample Accounting Entry 2 recording a farm equipment purchase with a check using an Excel spreadsheet. This segment of the Farm Accounting 101 series has been produced by the Alabama Cooperative Extension System Farm and Agribusiness Management Team at Auburn University in Auburn, Alabama. For additional information on the Farm and Agribusiness Management Team and other ACES programs, please visit our website at www.aces.edu.


In the words of the United Nations Secretary General, when he addressed us by video yesterday in the opening ceremony, we must harness the power of ICTs for economic and social empowerment For men and women, and here I stress men. Men are part of the solution, and I thank each and every man that came this morning to join us. This is the time to get women to the tables where the decisions are being made, to shape the world, and to shape its future. And I'm simply pleased that here in ITU we are doing so. Today's breakfast became a breakfast in 1994 at the Kyoto Plenipot, and I believe we had a huge number. We had 55 women there. The Thai delegation brought gifts, and it was the first time that we had to turn to the private sector and others to sponsor. And over the years, the 22 years since we started to do this, we have grown in number. We have grown in responsibility here at the ITU. We have grown to include friends of women who we call men. And we have grown to take more and more of an understanding within the ITU circles and our home circles of the importance that women play and can play in the ICT area. Even if the number today are fewer for women to use the Internet, if the possibility are given to them, they will use the Internet and they will use it the same way as all their brothers. And being a woman in technology means that women are able to do every job as men. It means that women have the same possibility as their brothers. From words to action, do you see gender appropriately reflected in the global political agenda for ICTs? I think we are starting to see that, and a lot of it is due to the work of the ITU and how you have promoted gender in ICTs, because in ICT days, GemTech awards and all the things that you are doing. And because the ITU is a multilateral organization, you have the air of 190-something countries. And because of that, we are getting more traction in women in ICTs in the political agenda. Yes, I'm concerned. I think evidence suggests that women are already being left behind in the information revolution, and we must do everything in our power as a female leader to make sure this does not continue. I will not share the statistic that Doreen had shared with us. We may first consider women as the first technologists. Since they developed tools, they developed methods to gather food and plant crops and make clothes and heal illnesses, so women made everyone lives easier. And their families, their communities and subsequent generations is a production of what technology provides for us today. I think that the last two years I tried to convince everybody also the gender issue balance in every organization. And for me it is very important to give the proof that this is possible also in ITU. ITU, a special agenda of UN responsible for ICT in the whole world. This is very significant and very important issue for me personally also, for me as a woman.