It is apparent that the contemporary farm management is constantly challenged by dynamics of its environment, in which the basic principles and concepts of farm management are applied. More importantly, it is apparent that people who need but lack opportunity to pursue their education are overwhelming now a day. Because of these factors and the continued widespread use of the first edition, I have created the need for this version. I hope, moreover, it will be useful for the need to train mangers who will be managing our farm and ranches in the current century. The topic here and in the first version will seem similar to the users. However, this version is presented more suitably to distance learner as self learning guide. This version has presented in the inclusion of some view points, examples, brainstorming and points of discussion through the text.