Ag Finance Boot Camp Schedule
Why we’re here: What you will learn today
Mike Wilson, editor, Farm Futures
A farm in crisis: What would you do?
Paul Neiffer, CPA, CliftonLarsonAllen, and Curt Covington, senior vice president, FarmerMac
More and more farms face financial stress: tight or negative margins, weak cash flow and dwindling working capital. Our case study farm faces these issues, and more. In each case, having a better understanding of your farm’s financials could help improve margins, strengthen cash flow, and build working capital. Attendees will join our team leaders as they workshop the problems and potential solutions to help bring this farm back to financial solvency.
Solution 1: How to integrate an accounting system that tells a more accurate picture of how much money the farm is really making.
Solution 2: How a management accounting system can help the farm make informed decisions that will increase profitability.
Solution 3: How to work with your lender to help you benchmark your farm operation against other farms and more importantly to help you benchmark against your own operation.
Solution 4: How to properly structure your farm operation in light of the new tax law. A review of your farm operation may show that some structure changes are needed.
Solution 5: How to develop a marketing program focusing on production costs to guarantee profits.
Solution 6: How to know exactly how much you can pay to cash rent ground and still make a bottom line profit.
Solution 7: How to determine how many acres is needed to provide for another family member to participate in the farm operation.
Paul Neiffer and Curt Covington