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- Was Your Farm Profitable Last Year?
- Highlighted Course: Getting on Track: Better Management through Basic Financial Statements
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YOUR CHECKING ACCOUNT BALANCE shows a bit of cash remaining, but your Schedule F shows a big loss! What do these numbers mean? Did your farm make any money last year? How can you tell? January is a great time of year to analyze your finances from the previous year and to develop a road map – cash flow budget – for the new year. You are likely already finalizing your financial reports and preparing information to take to your tax preparer. You may also be preparing documents for a lender. Given you are already compiling all these financial details, why not analyze the data and use it for making management decisions? . . .
