Iowa farm operators who had gross sales of agricultural products totaling $2,500 or more in 1965 were studied to determine the procedures and practices in farm business record keeping and analysis, the degree to which farm business records were kept and used for analysis purposes, and the relationship between certain farm operator and farm business characteristics. A stratified, multi-stage cluster area sample was drawn and data collected by personal interview with 322 farmers. The degree to which an operator kept and used records was measured by a record keeping and analysis index score computed by a panel of farm management specialists. Some findings were: (1) About one-third of the farm operators had received some type of formal agricultural education, (2) Approximately 15 percent had received informal instruction in record keeping and analysis, (3) Over one-half of the farmers had used a record book especially prepared for farm accounting, (4) Approximately 15 percent did not use a record book of any type, (5) The record book entries, (6) Almost 96 percent of the respondents had engaged professional services to prepare their tax returns, and (7) Vigorous educational professional services to prepare their tax returns, and (7) Vigorous educational programs in farm management, record keeping, and business analysis are critically needed by both present and prospective farmers. (DM)