| 1.
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Analyze and determine differences between a horse business and a hobby
operation. (I)
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| 2.
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Identify methods of conducting business and develop a viable business
plan based on accounting and financial record-keeping systems
applicable to the horse industry. (II)
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| 3.
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Analyze the legalities involved in managing a horse business. (III)
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| 4.
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Evaluate liabilities applicable to horseowners and horse farm
owners/managers. (IV)
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| 5.
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Compare business practices used when horses are held for sale, sport,
or breeding activities, including legalities of selling or buying an
unborn foal and selling horses on the installment plan. (V)
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| 6.
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Identify various types of insurance applicable to the horse industry,
and describe general liability, property, equine mortality, care,
custodial, and control insurance. (VI)
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| 7.
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Evaluate sales, leasing, breeding, boarding, training, and stallion
contracts. (VII)
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| 8.
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Develop a viable equine marketing plan, including identifying the
target market, creating an image, and determining the customer base.
(VIII)
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| 9.
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Identify and compare various types of horse farm record keeping
systems. (IX)
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| 10.
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Describe how computers are used in the horse industry, including use
in horse farm management. (X)
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| 11.
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Describe federal laws governing personnel practices, to include
employees, taxes, FICA, and immigration. (XI)
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| 12.
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Describe the laws governing capital gains treatment on the sale or
exchange of horses and other business property, depreciation
recapture, deferred payment, and installment sales. (XII)
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| 13.
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Analyze depreciation schedules and identify the process by which
depreciation is calculated. (XIII)
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| 14.
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Compare different methods of accounting as they apply to farm income
and expense deductions. (XIV)
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