Collecting and Organizing your Farm Records
Farming is a complex business which demands accurate records and careful financial management.
Articles
Selecting your Farm Accounting System
An accounting system is a set of actions and methods designed to collect, store, and process financial transactions into management reports for decision-making.
Preparing a Balance Sheet
The balance sheet is a report of the farm business’ financial position at a moment in time. It lists assets, liabilities, and net worth (owner’s equity), and represents a snapshot of the farm business as of a certain date.
Preparing an Income Statement
The income statement is a report of the farm business’ financial performance during a given time frame. It measures profit or loss in a given time period.
Understanding the Statement of Cash Flows
The statement of cash flows tracks the sources and uses of cash in the farm business in the past year. It also adds insight to the understanding of financial position and performance of the farm business.
Understanding the Statement of Owner Equity
The statement of owner equity reconciles the change in equity from the beginning balance sheet to the ending balance sheet for the farm business. Also known as the statement of net worth, shows the source of change.
Tractor buyer be wary: sourcing used equipment online
Prospective farm equipment buyers today have several sources for finding the right machine for their operation. UW-Madison Extension offers tips for searching online for farm equipment.
Tractor buyer be wary: sourcing used equipment the old fashioned way
Once you’ve decided to buy a piece of farm equipment, your next challenge is sourcing it. UW-Madison Extension provides tips on finding equipment off-line.
Plan for maintenance to avoid costly repairs with tractor ownership
Successful farm tractor ownership requires a plan for scheduled maintenance and repairs as needed. This is especially true when purchasing a used farm tractor. UW-Madison Extension provides tips on keeping a tractor in good working condition.
Consider safety before you purchase a used tractor or farm machine
If you are considering a purchase of a used farm tractor or other machine, even if you are not using it to do traditional farm work, safety must be a prime consideration. UW-Madison Extension provides some critical priority checkpoints to protect the personal safety of yourself, family members, workers and others who might be using the equipment that you purchase.
Farm machinery pre-purchase considerations: needs and economics
Once you have a list of tasks and implements needed to perform those tasks, do some research on the minimum horsepower required to power those implements. UW-Madison Extension provides guidance on choosing a tractor to fit your needs.
Tractor pre-purchase considerations: know your needs
Knowing what jobs tractors are and are not intended for can help you decide if one is necessary for your operation. UW-Madison Extension provides a list of considerations when thinking about purchasing a tractor.
Used tractors and machinery make work easier on farms and large properties
When you’re in the market to buy a used tractor or other piece of equipment, you’ll likely notice the differences in features between older and newer models as you look through sale listings. The good news is that despite all of these changes and the evolution of mechanized technology used in agriculture, tractors and other types of farm equipment are generally built to last. Older farm equipment that is well-maintained can be fully functional though it may lack more modern and important safety, comfort, or technology features.
Getting expert advice when starting a farm business
There comes a time in the process of starting a farm business when you’ll likely benefit from some expert advice. UW-Madison Extension provides tips for where to find advisors who can serve as a sounding board for your ideas.
Using the Business Model Canvas to Refine Your Farm Business Idea
Writing out a complete business plan is a time-consuming feat. Before you spend your time and energy writing a multi-page narrative, explore your ideas with a simple tool – the Lean Canvas. Adapted for use by startups, this simple one-page matrix can be a valuable tool to help farm entrepreneurs test a business idea in the context of nine key areas.
Developing your farm business idea
Do you count yourself among those who dream of being a farmer? Do you have some property and want to do something productive with it, maybe even make money off it? Are you seeking land and working on developing a viable plan for a future farm business? UW-Madison Extension provides tips fir generating viable ideas for a farm-based business
¿Refleja tu cultura quién quieres ser como empleador?
English | Spanish Cómo medir su cultura empresarial en la granja ¿Por qué utilizar una encuesta para empleados para medir la cultura? Las prácticas laborales sólidas orientadas a atraer, capacitar, retener y recompensar a los empleados deben reflejar una comprensión clara de las opiniones y experiencias de los empleados. La cultura agrícola representa “la forma en […]
Developing your Farm Product Brand
Ever wanted to brand and market your farm’s product? Learn how Jenni Gavin, Gavin Farms, Reedsburg, WI, and her husband developed a brand and began to market their beef directly to consumers.
