Taking the Pulse of Your Farm Business

About the program

UW-Madison Extension will launch a new self-paced online course, Farm Pulse: Financial Management and Analysis, to assist farmers in evaluating their finances, taking the pulse of their farm business, and setting goals for the future of their operation.  The course is adapted from Extension’s farm management curriculum, AgVentures: Building a Vision.

“It is important during these challenging times for farmers to be proactive about their farm financial management,” says Katie Wantoch, Farm Management Outreach Specialist. “Transitioning curriculum to online in Canvas (UW’s learning management software) and making it self-paced means individual farmers or farm families can complete the modules at a time that works best for them and from the comfort and safety of their own homes or offices.”

The Farm Pulse: Financial Management and Analysis course will delve into such topics as farm records, financials statements (balance sheet, income statement, statement of cash flow, statement of owner equity), farm financial measures and ratios, and decision-making. Participants can choose either a dairy or livestock case farm to follow throughout the course, completing hands-on and interactive financial activities.

Overview of Extension’s Farm Pulse Program: Financial Management and Analysis course

• Module 1: Introduction, dairy and livestock case farms
• Module 2: Farm financial model
• Module 3: Financial analysis
• Module 4: Decision making

The Farm Pulse: Financial Management and Analysis work is supported by USDA/NIFA grant under Award Number 2018-70027-28586.

Farm Financial Model Articles

Developing a Farm Financial Model

I. Records

• Collecting and Organizing
• Accounting

II. Management Reports

•  Balance sheet, 
• Income statement, 
• Statement of cash flows,
• Statement of owner equity. 

 III. Decision-Making

•  Cash, 
• Partial, 
• Enterprise budgets