Duration:
Three days
Agenda:
The Financial Statement
Day 1.
This will be a full day session.
The first part will discuss the varying options for planning.
Do I use my own?
Do I use a package?
The Balance sheet will be discussed, the Income statement. Cash flow projections, historical data.
Where am I today (complete a farm profile describing the current financial situation of the farm operation)?
Financial projections (at least one year) allow for trend analysis and other comparative analysis to occur.
Day 2
Projections
Putting it all together financially.
After the historical analysis has been completed and the balance sheet information has been completed projections need to be prepared.
What are the current goals of the farm?
What are the realistic objectives of the farm?
Is restructuring required?
What do the projections and ratio’s mean?
What are the specifics?
How do I get there?
How will I know if goals and objectives are being met over time?
Examination of alternative plans such as the addition, expansion, or phasing out of a livestock operation or buying, selling, or renting land.
Assessment of the identified option(s). Projected (monthly or quarterly) accrual based cash flow statement for a full production cycle or the time period required and implementing the proposed change(s). Calculation and description of the following financial indicators/ratios on a before and after basis, with a comparison to industry standards and benchmarks (i.e. current ratio, working capital, debt structure, debt to equity, equity ratio, debt servicing ratio).
Day Three
The Written Report
Where is the farm at from a written perspective
Are the goals “Smart” goals specific, measurable, attainable, realistic and timely?
Who is the report being prepared for?
1. The financial community
2. Internal review by the owners
3. Internal review by the managers
The Narrative
What information should be in the written report narrative?
The Executive Summary
What information should be in the executive summary narrative?
A “Swat” analysis. Strengths, weaknesses, opportunities and threats.
The Narrative Action Plan - identify and explain the actions, timetables and key responsibilities for implementing the recommended change option. Outline accountability for plan monitoring, timing of reports and a process for follow-up.
Who is responsible for ongoing review and analysis of the action plan?
How often will monitoring take place?
What financial data and or information will be reviewed, and monitored on a regular basis?
Indicate a process for monitoring if goals and objectives are being met.
If goals and objectives are not being met, is there a plan in place to re-evaluate with a view for continued advancement?
Cost:
This will be $800.00 per day per person work book to be provided. Meals shall be the responsibility of the student. This will be on site. Additional Costs for rooms and mileage and any other extras will be the responsibility of the student. Those will be agreed to prior to the start of the course. If Students choose this can be completed in 1/2 day segments but the course must be completed within two months. Minimum two maximum five pers course.
Target Audience:
Farmers who are seeking assistance in creating a real plan or revising an old plan to meet their needs today
Recognition Provided:
Certificate of completion
Method of Instruction:
On-site/On-farm
Workshops
This will be one on one or small group instruction
Availability of Program:
Available upon request
Agriculture Business:
Crops
General
Other Animal
Swine
Subject of Training:
Language of Instruction:
For program information contact:
Robert Stocks
Last Updated: 2014-02-25
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