To be an effective business manager, it is important that you understand your farm’s financial reporting. Regardless of whether you personally are responsible for your farm accounting, employ a person as the bookkeeper for the farm, or outsource your farm bookkeeping, understanding your financial reporting is your responsibility. By generating accurate financials and understanding your...
How can we talk about whether your farm will be able to secure financing? In order to address this question, keeping in mind that it’s June 2017 at the time of this article’s publication, we’re making the following assumptions:
One cannot stress enough the importance of capital management for your business. All of the efforts you have invested to produce an operating profit, from your farm’s operation management, can be lost if that operating profit is not managed correctly. This is where capital management comes to the rescue.