FBMT 2142 Interpreting Trends in Business Planning

FBMT 2142: Interpreting Trends in Business Planning

Description

Interpreting Trends in Business Planning examines whole farm, enterprise, balance sheet, and inventory trends. Current analysis data is compared to historical data in making future farm business planning decisions. Financial ratios are used to indicate the farm financial structure.

Management Credits

Topics to be Covered

1. Crop and feed check data management to enhance analysis accuracy

2. Asset valuation and depreciation

3. Goal-setting concepts related to farm business, family and financial goals

4. Financial data management system to enhance farm business analysis process

5. Farm organization and management efficiency trends

6. Trend data for the farm business decision-making process in developing marketing strategies, and for business, family and financial goal-setting

7. Enterprise data management system to enhance enterprise analysis closeout process

8. Farm financial trend data in establishing tax management concepts

Learning Outcomes

1. Revise financial accounting system(s) for effectiveness and accuracy

2. Compare historical farm data with projected cash flow plans

3. Analyze farm financial measures

4. Interpret trend data for farm business decision-making processes

5. Analyze current working capital position and working capital trend history

6. Analyze current debt to asset percentage and debt to asset trend history

7. Refine business goals in the development of cash flow planning

8. Refine family and personal goals in the development of cash flow planning

9. Compare trend data of current inventories to the current year’s balance sheet

10. Integrate risk management and farm production plans

11. Examine trend data to modify farm marketing strategies

12. Utilize the farm analyses to improve its business organization and efficiency