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AG Business Planning & Analysis
This class is designed to assist farmers in improving their financial management and their business operations. Goals for the first year are:
A balance sheet with beginning and ending inventories
Crop cost of production
Income tax estimate
Second and third years will cover balance sheets and learning how to borrow money, investments in land and other investments. Farming will be compared as a business similar to Ford and Apple. The class will also work with financial ratios to help evaluate past performances. Agronomics is not covered in this program. The class will consists of 12 classes per year for three (3) years. Classes meet from late November through early April.
Cost: $350 per year
Computerized Accounting for Farmers
Financial records are very important for farmers. Not only are they necessary for the IRS, but for farmers to make decisions on what enterprises are the most profitable. Vantage Career Center offers a computer program (The Agricultural Business System TABS) that can perform these functions accurately. TABS will be loaded on your computer so that you have accurate records at your fingertips. You do not need to know accounting to use it. You have unlimited instruction at your farm office the first year. After that, phone assistance is free and farm office visits are available. TABS TABS provides 1040F tax reports, balance sheets for lenders, bank reconciliation, depreciation and payroll with all payroll reports, including W-2s. TABS is being use by nearly 100 farms in this area.
Cost: $350 for installation and first year support. Yearly support varies as to farm office location and services desired. Similar programs cost $1,000 to $2,000.
For information on any agricultural class, contact Ron Schumm at 419-771-9031.
To register for these classes, contact...
Farm Business Planning and Analysis