Ag Advantage

Browse these helpful agricultural financial management resources.

How Does Ag Accounting Differ From Business Accounting?

Farm Accounting

Posted by Amanda Fields on Jul 10, 2017 10:21:00 AM

There are a few substantial differences between agricultural accounting and business accounting, specifically when it comes to reporting on the income statement and the balance sheet. For the income statement, most ag accounting is on a cash basis, making it simpler and more straightforward. Business accounting follows accrual methods, which allow entries of revenue and expense in the absence...

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Will Your Farm Secure Financing If 2017 Is a Tough Year?

Farm Accounting, Farm Finance

Posted by Brian Bennett on Jun 22, 2017 10:50:00 AM

Assumptions

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:

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What Should My Farm Software Be Doing for Me?

Farm Accounting, Farm Finance

Posted by Val Maeker on May 30, 2017 8:40:00 AM

Farm software should give you the information you need to make major financial decisions.

Examples of major financial decisions for your family farm would include things like a large expansion of the operation, taking on a new partner, producing a new product or commodity, or adopting new technology. Does your current farm software identify strengths or weaknesses in your operation, allowing...

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Farm Accounting Application: Financial vs. Managerial

Farm Accounting

Posted by Chris Whited on May 10, 2017 11:05:00 AM

Building a financially healthy ag business is possible. You just need to find what works for you.

If data isn't driving your behavior, then why are you doing it?

We all have big ambitions when taking over the family farm. We want to jump in and use our skills to build upon what the previous generations have handed down, leaving our own mark for future generations. What do you want to achieve?

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Financial vs. Managerial Farm Accounting Interpretation, Part 2

Farm Accounting

Posted by Chris Whited on Apr 17, 2017 12:05:00 PM

Take control of the outcome, or be overrun by unstable markets.

Your farm’s financial story shows you its potential.

In Financial or Managerial Accounting, we explored the essential information farmers need to make good economic decisions. Today, we are going to look at how the interpretation of managerial accounting reports can be essential to your planning, direction, and choices about where...

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Financial vs. Managerial Farm Accounting Interpretation, Part 1

Farm Accounting

Posted by Chris Whited on Mar 30, 2017 4:00:00 PM

How to Manage the Flow of Cash in Your Operation

We explored in Financial vs. Managerial Accounting the essential information farmers need to make good economic decisions. Today, we are going to look at how the interpretation of financial accounting reports can be essential to your farm’s financial health.

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Financial or Managerial Accounting: What’s Right for Your Farm?

Farm Accounting

Posted by Chris Whited on Feb 7, 2017 9:51:59 AM

Considering the purpose of your accounting records

Accounting provides essential information farmers need to make good economic decisions. There are two types of accounting reports that are essential to your operation’s “financial health” - management and financial.

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Agricultural Finance: Strategies for Refinancing

Farm Accounting, Farm Finance

Posted by Harold Birch on Jan 4, 2017 11:12:19 AM

Refinancing 101 – Understanding Agricultural Finance

Working capital (WC) is the biggest issue in farms failing. In challenging times, more than 90% of farms fail as a result of a lack working capital; meaning those farms are not able to stay in business long enough to realize a profit. Simply put, working capital equals current assets minus current liability. We want more current assets than...

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Capital Management: Understanding Farm Asset & Debt Management

Farm Accounting

Posted by Brian Bennett on Dec 9, 2016 1:26:00 PM

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.

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54 Magic Numbers to Improve your Ag-Business

Farm Accounting

Posted by Sam Bachman on Sep 22, 2016 5:27:29 PM

AgriSolutions’ flagship financial analysis and benchmark offering is the Historical Performance Analysis™ (HPA) report.  This report has been successfully used with hundreds of producers over the past 40 years to provide management insight, raise critical issue awareness, benchmark performance and look forward based on mathematical trends.    

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