Farm Progress

Save money and register before early bird deadline Dec. 15.

Mike Wilson, Senior Executive Editor

December 13, 2017

2 Min Read
CPA Paul Neiffer will share tax and finance insights at the upcoming Farm Futures Ag Finance Boot Camp.

Want to get high-level farm finance training so you can turn your numbers into better farm decision-making? Come to the fifth annual Ag Finance Boot Camp Jan. 17 at the Coralville Marriott, just outside of Iowa City, Iowa.

This high-energy, one-day workshop is designed to help you manage the ever-increasing financial challenges, as agriculture continues to face profit margin pressure.

Engaging the audience

The workshop will engage and challenge attendees as it focuses on real-world farm finance problems and solutions. LaVell Winsor, a Kansas farmer and ag financial specialist, will lead a farm panel discussion on record keeping and accounting, focusing on practical do’s and don’ts. She’ll also run through the top 10 common financial problems faced by farms.

Registered attendees can submit their toughest farm accounting problems to the discussion leaders, who will provide advice during the workshop. You’ll take a financial stress test to see where you stand on typical farm finance problems and how to correct them.

Also, CliftonLarsonAllen CPA Paul Neiffer will share a case study on how one farm fell into financial distress and changed direction to right the ship.

Curt Covington, senior vice president of ag finance for Farmer Mac, will share his wisdom gleaned from years working with both farmers and lenders.

Mick Porter, vice president for credit at Farm Credit Services of America, will share tips on how to work with lenders.

What you’ll learn

Here are the topics on the agenda:

  • Understanding the Farm Financial Standards Council guidelines and farm financial statements

  • Case study: How and why this working farm went through financial crisis, and the changes needed to right the ship

  • Tough conversations: Communicating the good, bad and ugly about farm finances

  • Do’s and don’ts of working with your lender

  • Panel discussion: Real-world challenges in on-farm accounting and bookkeeping

  • Using contribution margins to make business decisions

  • Tax reform: On-farm implications

  • Working with lenders to manage working capital, cash flow and debt servicing capacity

  • Top 10 common financial problems faced by farms

  • Losing liquidity: What’s your burn rate and how do you fix it?

  • Pop quiz: Let’s take a financial stress test

  • Cash vs. accrual accounting: Why does this matter?

  • Panel: What keeps you up at night? Your most important questions answered

Attendees also will have a chance to receive free Farm Financial Standards Council guidelines.

To register or get more information, go to www.farmfuturesbootcamp.com. For your convenience, this event is scheduled one day before the Farm Futures Business Summit (Jan. 18-19) at the same venue. Why not come to both events and save even more on early registration?

The Farm Futures Ag Finance Boot Camp is sponsored by Farm Credit, Farmer Mac and Farmers Mutual Hail, with special cooperation from the Farm Financial Standards Council.

About the Author(s)

Mike Wilson

Senior Executive Editor, Farm Progress

Mike Wilson is the senior executive editor for Farm Progress. He grew up on a grain and livestock farm in Ogle County, Ill., and earned a bachelor's degree in agricultural journalism from the University of Illinois. He was twice named Writer of the Year by the American Agricultural Editors’ Association and is a past president of the organization. He is also past president of the International Federation of Agricultural Journalists, a global association of communicators specializing in agriculture. He has covered agriculture in 35 countries.

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