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Financial boot camp will teach farmers how to tackle farm’s toughest money challenges.
2 Min Read
Farm Futures will hold a one-day workshop where experts will lead a case study discussion on some of the key financial and marketing problems facing most farmers today. TheFarm Futures Ag Finance Boot Camp is set for Jan. 23, 2019, at the Coralville Marriott & Conference Center in Coralville, Iowa. Attendees can save money with an early bird discount if they register by Dec. 15.
“This will be an intense yet informal learning event where attendees discuss and debate solutions to common farm financial problems,” says Mike Wilson, Farm Futures Executive Editor. “We’ll be discussing common issues like poor tax planning, weak cash flow, dwindling working capital, contribution margin, and grain marketing for profit.
“In this informal workshop setting attendees will share their own insights and opinions, because that’s how everyone learns,” he adds. “Together with our presenters we will discuss potential management solutions to problems they may be facing themselves someday.”
Case study: A farm in crisis
The workshop will be led by CPA Paul Neiffer, of CliftonLarsonAllen, LLP, Curt Covington, executive vice president at Farmer Mac, and John McNutt, MBA at LattaHarris, LLP. These financial experts will introduce a case study of a typical 2019 farm family in financial stress, with the following goals:
How to learn and integrate an accounting system that tells a more accurate picture of how much money the farm is really making;
How an enterprise accounting system can help the farm make informed decisions that will increase profitability;
How to work with your lender to help you benchmark your farm operation against other farms and more importantly to help you benchmark against your own operation;
How to properly structure your farm operation considering the new tax law. A review of your farm operation may show that some structure changes are needed;
How to develop a marketing program that focuses on production costs to guarantee profits;
Why you need to understand operating leverage and contribution margin, and how these concepts impact cash rent decisions, farm growth, and profitability.
The Farm Financial Standards Councilhas partnered with Farm Futures to provide day-long expertise and offer attendees a chance to receive a complimentary copy of the 2019 Financial Guidelines for Agriculture.
Save money now
To learn more and save money on early bird (Dec. 15) registration, go to www.FarmFuturesSummit.com and click on links to the 2019 Farm Futures Ag Finance Boot Camp. While you’re there, consider joining Farm Futures at the Business Summit, which takes place at the same venue the following two days (see links). Bring several people from your operation and take advantage of our partner discount.
Mark your calendar for Jan. 23, 2019 at the Marriott Hotel in Coralville, Iowa. Don’t miss this chance to improve your farm’s future profitability.
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