Financial and Strategic Management

The mission of the F.A.R.M. Team’s Financial Management & Strategic Planning Workgroup is to improve the farm financial and decision-making skills of Wisconsin agribusiness and farm managers, agricultural lenders and UW-Extension Agents.

Resources

WI Dairy Farm Ratio Benchmarking Tool
Compares dairy farm’s financial status with +500 dairy farms in the State of Wisconsin. Data is from the AgFA (Agriculture Financial Advisor) database: 2000-2008. Calculates 15 Financial measures. REQUIRES: Excel 2007. (CLICK ONLINE TOOLS)

Interpreting Financial Statements and Measures (IFSaM) – Center for Farm Financial Management. This site was created to help producers understand how to interpret common financial statements. Learn how to use your financial statemetns in day-to-day managemetn of your farm management. Anyone with an internet connection can assess these videos.

Financial Benchmarking (AgFA – Agriculture Financial Advisor)
Understanding your own financial profile is important for the success of your farm operation. Benchmarking helps you assess your farm operation and determine its strengths, weaknesses and areas where improvement is possible.

Decision-Making Tools
The Center for Dairy Profitability and affiliates have developed a number of tools to help improve production efficiency and profitability.

The Working Capital (WC) Decision Support System: consists of a suite of tools. It is intended to assist dairy producers in identifying annual cash flow balances for the recent past (1-2 years); project expected incomes and expenses for the coming year and identify cash excesses/shortfalls well in advance of occurrence. Stand alone Excel, AGFA compliant, Balance Sheet and Farm Earnings Statements are also offered.

Supporting Documents:

Papers

Managing at the Bottom of the Farm Income Cycle

Financial Benchmarking
Cost of Production
WI Dairy Data Fact Sheets

Financial Management Papers: Accompanying financial management articles for RME Grant, “Planning for the Next Swing in Milk Price.”

Record Keeping Software

Agricultural Accounting and Information Management System (AAIMS)
Integrated financial records system that enables farmers to organize and quickly analyze their financial records. Allows for the concurrent storage of physical information associated with the financial data.

Curricula

Building a Vision – Financial Management and Analysis
This curricula provides agricultural producers with a working knowledge of finance and strategic planning to help improve their ability to reach desired personal and business goals. Producers will increase their understanding of profitability, cash flow, and other financial measures used in the industry. There is ample discussion on how financial issues influence the decision making process in their business.

Training

For more information on training CONTACT: Jenny Vanderlin, 608.263.7795

  • AAIMS
  • AgFA – Data Input and Analysis
  • FINPACK
  • Quickbooks Training for the Beginner