GFM Network News

When you dig down into the profitability of two seemingly identical farms, you often find one is much more profitable.

Run the numbers, compare performance, and make more money

AgriProfit$ allows you to dig deep into where you make money on your farm and where your performance is lagging

Reading Time: 2 minutes Time is running out if you want to enrol in AgriProfit$. Producers have until mid-January to sign up for the business analysis program, said Pauline Van Biert, a research analyst with Alberta Agriculture and Forestry. After providing their farm information, participants receive a detailed analysis that drills right down to their own cost of production […] Read more

doing paperwork on a desk

New accounting standards for farms proposed

Canada’s accounting standards organization wants to 
make farm accounting simpler and more predictable

Reading Time: 2 minutes Canada’s professional standards body for accountants is developing new accounting standards for Canadian farms. A standardized approach will make understanding farm accounts simpler and business more straightforward, the Financial Reporting & Assurance Standards Canada says. Currently there’s a hodgepodge of ways to do farm accounts, mainly due to the unique nature of these businesses, said […] Read more

It’s time to slip back into the office and review cash flow

It’s time to slip back into the office and review cash flow

It’s a long time until harvest revenue flows, 
so you need to manage your cash wisely 
over the summer

Reading Time: 2 minutes Now that cattle are being put out to pasture and old-crop inventory is known, it’s important to review your cash flow projections and your marketing plans, says a provincial farm financial specialist. “Cash flow projections are critical, especially in the summer months,” said Rick Dehod. “There isn’t much revenue coming in until harvest, but the […] Read more