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The modern age of technology and mechanization has led to the rise of industrial agriculture and an increase in corporate livestock operations and �Big business� involvement in the industry. As a result, independent farmers and ranchers are being forced to compete with entities that are characterized by low-cost and high-output. The purpose of this study is to provide a detailed analysis of financial and tax accounting concepts that can be used by smaller livestock producers to lower costs and increase competitive advantage. By highlighting the unique performance metrics governing financial controls over a livestock production operation, this study will provide insight into the implementation of an accounting system capable of efficiently generating useful reports, accurate budgets, and long-term usefulness for the operator with regard to the unique reporting needs of an agriculture operation. This poster will also analyze ways that producers can benefit from understanding specific tax laws governing agriculture businesses and the tax planning opportunities that will result from implementing a financial accounting system congruent with tax law. Finally, this study will discuss the usefulness of �Big Data� for independent producers and how it can be used as both an input to their accounting system and a budgetary planning tool. By understanding these subjects, viewers of this poster will be able to highlight low-cost ways to generate greater returns from livestock operations, which will result in long term success of business and health of the ecosystem upon which it operates.