How to boost your farm financial IQ

How to boost your farm financial IQ

Is your farm ready to face financial challenges in 2016? Enroll in the Farm Futures Ag Finance Boot Camp for help.

Boost your business skills at the third Ag Finance Boot Camp, Jan. 20 at Union Station Hotel in St. Louis.

This jam-packed workshop is designed to help you manage farm financial challenges that may creep up in 2016. Sessions will focus on key money topics guided by a team of agriculture lenders, financial consultants and CPAs.

Full day of learning
Attendees will learn how farm financial management can lead to better decision-making, and how good records and financial statements lead to better farm business management.

Topics we'll focus on include:

A scene from our most recent boot camp, where financial experts dished advice and helped attendees learn how to better manage their businesses.

• Finding the right data to make the best financial decisions
• Working with your lender to manage working capital, cash flow and debt servicing capacity

• Learning to read a financial statement and adjust a balance sheet, and why it's important
• Performing a financial stress test on your business and making decisions based on test results
• Understanding family living costs — the Achilles' heel in 2016 cash flow
• Trimming the fat without sacrificing production — how to use financials to make better farm business decisions
• Making key financial decisions on business expansion, buy-sell equipment or lazy assets
• Making the case for accrual accounting 
• Figuring out if you need managerial accounting
• Finding out what financial tools are available and what they can do for you

The Farm Financial Standards Council has again partnered with Farm Futures to provide expertise, along with specialists from Farm Credit and Rabo AgriFinance.

Attendees will have a chance to receive a free copy of the FFSC Financial Guidelines for Agriculture. For more details and registration, visit the 2016 Farm Futures Ag Finance Bootcamp webpage.

The Boot Camp is conveniently held a day before the 2016 Farm Futures Business Summit, Jan. 21-22, also at the Union Station Hotel. For more summit information, visit the 2016 Farm Futures Business Summit webpage.

The Farm Futures Ag Finance Boot Camp is sponsored by Farm Credit and Rabo AgriFinance. The Farm Futures Business Summit is sponsored by BASF, K-Coe Isom, Rabo AgriFinance, Conservis, John Deere and Cropzilla

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