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Title: Financial management using moderate capitalism for dairy cow farms in Maha Sarakham Province, Thailand
Author: Phanita Soonthornchai
Address: Faculty of Management Science, Rajabhat Mahasarakham University, Mahasarakham, Thailand
Abstract: This research aimed to study social, economic and knowledge phenomena, financial data recording and financial management process based on moderate capitalism of nine dairy farms, selected by a specified criterion participation in this qualitative study through interviews, group discussion, knowledge management and participatory action research. Results reveal that farmers could earn increased income; and, currently, farmers of the new generation are ready to learn, capable of foreseeing benefits in potential development in financial information recording useful to their profit farm planning. Because the farmers are fatigued from daily hard work, they then need a simple recording process, easy to understand and not time-consuming in data recording processes. This research and development reveals the recording process as shown in the accounting equation: Assets = Liabilities + Equity + Revenues − Expenses; regarding social financial information recording, the study reveals contributions of their farm profits to happiness and improvement of life.
Keywords: financial management; moderate capitalism; dairy cows; dairy herds; dairy farming; Thailand; data recording; assets; liabilities; equity; revenues; expenses; financial information recording.
Int. J. of Trade and Global Markets, 2017 Vol.10, No.1, pp.13 - 18
Available online: 19 Feb 2017