Wisconsin Ag Connection - Course Offered on Farm Financial Statements, Record Keeping

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Course Offered on Farm Financial Statements, Record Keeping
Wisconsin Ag Connection - 09/15/2011

Given the financial stress of the last two years, farmers are asking how to improve cash flow and reduce equity risk. Often the response is 'perform a financial analysis.' But how is that done?

The University of Wisconsin-Extension and the Center for Dairy Profitability, as part of the Heart of the Farm-Women in Agriculture program, are offering a farm financial workshop series to introduce computerized finance tools available to the farm manager, and help define a process to financial analysis.

The workshop series will be held on Thursdays, in September and October starting on September 22 and ending October 20 with online sessions in-between.

This workshop focuses on using financial statements to improve business decision making. It will study core financial information, financial analysis, and financial management. Throughout the series we will strive to incorporate farm financial information into the fabric of farm life.

While analysis and ratios are not the fun part of farming, doing so can lead to insights that will help farmers steer their business over the years and help ensure profitability. Instead of asking your lender if you'll be farming for another year, you'll know where you stand and which decisions will keep you farming for years to come.

The series, consisting of two in-house sessions, will September 22 at noon with lunch at the Trempealeau County UW-Extension office in Whitehall. The second session will be on October 20. During the first session, participants will be given information to construct their own reports, calculate ratios, and analyze them. Specialists from UW-River Falls, Center for Dairy Profitability and UW-Extension county agents will facilitate workshops. In addition, they will host an interactive internet support system during the time participants are working on their own between the two workshops. Computer knowledge/literacy and home access to computer and internet is strongly recommended to meet the goals of this workshop.

There is a $10 registration fee for the series which includes lunch on both days and materials. Registration deadline is Friday.

For more information, go to: http://www.uwex.edu/ces/heartofthefarm to download a brochure or call your local UW Extension office.

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