WORKING CAPITAL MANAGEMENT IN FARMS IN THE YEAR 2007 (BASED ON FADN DATA)

Abstract. Article is an attempt to describe the way of the net working capital manage-ment in farms in the year 2007. Data on the farms were taken from the FADN database and include the farms from the 27 European Union countries (EU-27). A descriptive and comparative analysis was used, and also the fundamental indicators of the financial analy-sis were made. The analysis showed that agriculture in the EU in 2007 year was character-ized by: a high share of current assets in total assets, over-liquidity and low importance of short-term liabilities, and commonly used strategy of net working capital management was an aggressive-conservative one. This strategy was characterized by a moderate profit and risk. There was also a high diversity of assets and capital structure depending on the country. The study was extended by the comparison of net working capital management in the average farms from Poland with the average one from the EU-27 according to the ESU and the agricultural type. Key words: farm, working capital, strategy, liquidit