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A combination of factors guide the type and scope of
questions asked in ARMS. ARMS supports key uses of enterprise,
farm, and household data that correspond with mandated
activities required by the U.S. Congress, governmentwide
responsibilities delegated to USDA, assessment of USDA
policies and programs, and research to inform public and
private decisionmakers on agricultural and farm issues.
Standardization of components and definitions for financial
statements also help to determine the necessary data to
collect. For example, the Farm
Financial Standards Council develops and publishes
standardized Financial Guidelines for Agricultural Producers
that incorporates generally accepted accounting practices
(GAAP) for income statement, balance sheet, and financial
ratios to the extent feasible for farming businesses.
Commodity costs and returns are estimated according to
the guidelines
established by a task force created by the American Agricultural
Economics Association. Guidelines for sector accounting
are part of the governmentwide standards for national,
regional, industry, and international economic accounts.
ARMS is unique in that the collection of information to
support financial statements covers all four major levels
of interest (commodity enterprises, farm businesses, farm
operator households, and the farm sector) within one sample
design and set of survey instruments.
For more information on the exact data collected, see
the full ARMS
Documentation.
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