Reading Time: < 1 minute An online tool for analyzing the performance of your farm business has been upgraded, along with some additional user assistance for the software. The Agricultural Business Analyzer is a set of Excel spreadsheets designed for a farm business. It helps producers prepare the three key financial documents: a balance sheet (that measures net worth), income/expense […] Read more
How’s business? There’s an app for that
Free online tool can tell you exactly how your farm is doing financially and create a financial plan for the coming year
Farm kids: Don’t worry about wages
A new study by Cornell University agricultural economists says family members who work on the family dairy farm make $22,000 less annually than comparable hired managers, but are handsomely compensated with “socioemotional” wealth. “While $22,000 seems like a large penalty, there are non-financial rewards they experience working for the family business,” Loren Tauer, professor at […] Read more
E-learning tutorial offers basics on farm financial statements
Reading Time: < 1 minute Alberta Agriculture and Forestry has a new online e-learning tutorial called Understanding Farm Financial Statements and their Measurement. The tutorial offers the basics on farm financial statements, their interaction, and measurements, said farm financial specialist Rick Dehod. This e-learning series is set up so that it may be viewed in part or in its entirety. […] Read more
Know the real bottom line before heading out to seed
Finance expert says knowing your actual cost of production allows for better decisions on marketing and risk management
Reading Time: 2 minutes Another seeding season is within view, but do you know how you fared last year? “Unfortunately, farmers really don’t know if their farm was profitable in 2014,” said Rick Dehod, farm financial specialist with Alberta Agriculture and Rural Development. “The majority of farms still reports their incomes and expenses on a cash basis via their […] Read more
Have your financial ducks in a row before spring hits
Farm business specialist says there are four financial documents you need to prepare and share with your advisers before things get too busy
Reading Time: 1 minute Now is the time to review operating plans, investment plans and cash requirements for the upcoming year, says an Alberta Agriculture and Rural Development specialist. “The need to develop a strong business plan has been never greater,” said Rick Dehod. “With grain prices flattening, margins have been squeezed. Being proactive allows your business to strategically […] Read more
Getting the lowdown on your farm’s financial health
Simple Farm Ratio Analyzer is a quick way to determine whether your farm is on the right financial track, says farm finance specialist
Reading Time: 2 minutes An Excel program available from Alberta Agriculture and Rural Development can help producers assess the financial state of their farm business. The Agricultural Business Analyzer (ABA) Simple Farm Ratio Analyzer gives users a quick idea of the financial health of their farm or ranch as well as a comparison of their business’s ratios to industry […] Read more
Cyber-Savvy Farmer
