Taking Control of Your Farm Business (AS101), and Debt Control and Lender Communications (AS121) have been popular farm business management workshops for several years. Many have elected to attend the workshops more than once as a way to update trends and refresh themselves on the subject matter.
In AS101 you learn basic accounting concepts; such as the four parts of the business, cash/accrual accounting, and the flow of money through a profitable business. You will complete a five-year financial performance review, which will show if your operation is large enough, efficient enough and if the operating profits are consistent. Is there enough operating profit to fund debt service, living, and growth? Are assets productive? How much revenue should an asset generate? How efficient should an operation be? What changes need to be made and how will those changes affect operating profit? These are questions that will be answered while attending the workshop. Some spreadsheets will also be introduced to help calculate financial performance and analyze increased risk. AS101 is a three-day workshop. Cost for the three-day workshop is $175 for Farm Bureau members and $395 for non-members.
In AS121 you will learn what lenders look for in balance sheet ratios. How much working capital should you have for the kind of operation you run? How much debt is too much? What is the maximum debt load your operation should carry? If I expand the operation, how much working capital should I add? Using your own financial data, you will get answers to these questions. AS121 is a two-day workshop. Cost for the class is $125 for Farm Bureau members and $250 for non-members.
In both AS101 and AS121 sample farms, which contain real farm data, are used to teach the proper concepts and calculations before using your own financial data. You will help analyze the sample data to see how you might have done things differently. These workshops are relevant for any type and size of a farm operation.
Workshops are now scheduled for winter of 2009. Registration needs to be sent in at least one week before the class starts. Charles Brown, Farm Business Service Administrator, will be the instructor for the workshops. Please contact Charles Brown at 515-225-5751 or e-mail to firstname.lastname@example.org, or Carol at 515-225-5431 to receive a registration form. More information can be found on iowafarmbureau.com.
Buena Vista County Farm Bureau will be hosting the AS101 workshop Feb. 10, 11, 12 from 9 a.m. to 5 p.m. The AS121 workshop will be presented March 10 & 11, from 9 a.m. to 5 p.m. at the Buena Vista County Farm Bureau office located at 1707 Lake Ave., Storm Lake, IA.