Join us for these FREE sessions that are part of Annie’s Project Mitigating Risk Across Common Barriers to Profitability webinar series. This material is based upon work supported by USDA/NIFA under award number 2018-70027-28588.
- March 3, 2022 – 12:00 PM Eastern Time (US and Canada) Register for FREE
- Recordkeeping A Necessary Skill
- Recordkeeping is a necessary skill for all business owners. Farm records include everything from financial to production. This session will provide some ideas on recordkeeping practices as well as organizing records for farm enterprises.
- Presented by Shannon Dill, Extension Educator – AGNR University of Maryland Extension – Talbot County
- March 10, 2022 – 12:00 PM Eastern Time (US and Canada) Register for FREE
- Enterprises – Who Are Your Winners & Losers? Introduction to the Rutgers Cost Accounting Spreadsheet
- This webinar will explain how to use user-friendly software to develop enterprise budgets. It uses Microsoft Excel and is distributed by Rutgers University to develop an enterprise budget showing costs and returns for each crop that you produce. The spreadsheet uses information that you already have on hand from your accountant: income statement (or Schedule F) and balance sheet. The spreadsheet then generates the costs and profitability of each crop. Thus, you know which crops are winners and losers; thus, giving you information to make decisions on pricing, reducing unprofitable production costs, and increasing sales of profitable crops.
The program also calculates the percentages of each overhead cost, 17 key financial ratios, and a cash flow statement to allow you to plan for your monthly cash flows.
In addition to analyzing your actual costs, you can use the spreadsheet as a planning tool to analyze the impact of increased costs and prices as well as changes in marketing mixes, or other changes you are considering in your business. The spreadsheet can also be used to enter pro forma data for a future farm business.
- Presented by Dr. Robin Brumfield, Specialist in Farm Management, Rutgers University, New Jersey
- March 17, 2022 12:00 PM Eastern Time (US and Canada) Register for FREE
- Pricing for Profit
- Understanding how to price your products is critical to your farm’s bottom line. Contrary to common practice, your pricing strategy should take into consideration multiple factors. This webinar will introduce you to the three big “C’s” to consider when determining prices for your products.
- Presented by Kenesha Reynolds, Agriculture Business Management Specialist, University of New Hampshire Extension
- Mar 24, 2022 12:00 PM Eastern Time (US and Canada) Register for FREE
- Taking A Deeper Dive – Benchmarking and Financial Analysis
- You have your numbers from your records and financial statements but what do they mean? In this session, we will take a “Deeper Dive” into the numbers and discover how you can take data from your farm and turn it into meaningful information for farm business decision making through benchmarking and financial analysis.