Excerpts: The Committee on Definitions of Terms in Farm Management, in accordance with its instructions from the Association, has prepared a report, which is attached, on a suggested definition for each of a selected list of terms in common use by farm management workers. This report is largely a summary of the reactions of a considerable number of farm management workers during the last three years to a selected list of terms and definitions assembled by the Committee from a survey of farm management literature. The report is divided into two parts. In the first part a suggested brief definition is given for each of 64 farm management terms, together with brief supplementary notes for a few of the terms. The second part consists of a suggested outline for a farm financial statement. The financial statement indicates, perhaps more clearly than the definitions, the concepts conveyed by the terms used in farm accounting. Furthermore, the suggested outline for a farm financial statement illustrates the possibility of presenting farm accounting information in a form which furnishes a basis for computing the various conventional measures of efficiency and financial success in the operation of farms. The itemization suggested would permit considerable flexibility in recombining items to obtain additional measures. If the more condensed financial statements commonly presented could be preceded by a financial statement such as the one herein suggested, it would greatly facilitate comparison of the statements derived from two or more studies.