The difference between a good farmer and a great manager often comes down to knowing the true financial position of a farm. Good records make it possible to track an operation's true financial position. Inaccurate records can lead to misguided management decisions.
"Good Farmer to Great Manager" record-keeping classes will teach farmers and ranchers to keep accurate records for their operations. These classes will be offered at three locations:
• Lincoln. July 18–19 at the Lancaster County Extension Office, 444 Cherry Creek Road
• Bridgeport. July 25–26 at the Prairie Winds Community Center, 428 N. Main St.
• Grand Island. July 30–31 at the Hall County Extension Office, 3180 Highway 34
Each class will be from 1 to 5 p.m. the first day and 8 a.m. to noon the second day. The course fee is $50 per participant. Class size is limited to 25 people per location. Register online at wia.unl.edu.
Keeping good records is less about using certain software and more about gathering and organizing information, says Tina Barrett, executive director of Nebraska Farm Business Inc. and course instructor.
"In this class, you will learn about what information you should have easily available as part of your farm or ranch records,” Barrett says. “When you have good records, everything from tax preparation, annual loan renewals and financial analysis become much easier. More importantly, it will allow you to make financial management decisions that improve your business."
- What are good records?
- Getting good tax records
- Moving to management records
- Financial statements and ratios
This course is hosted by Nebraska Extension and is inspired by Annie's Project. Annie's Project is supported by Farm Credit Services of America in Nebraska.