Session 5 work is outlined below. Don't forget that you need to be working on your business plan on the Ag Plan website as you are going through the Chapter 5 exercises. Chapter 5 deals with working through your financial statements and taking your inventory to come up with your current net worth. Another important factor is understanding where you will need to be as you plan your farm business start-up using your cash flows.
Things to Do:
- 2024 Session 5 Sample Agenda
- 2024 Session 5 Financial Management - sample presentation
- Session 5 Cash Flow In-Class Activity
- 2B - Session 5 Cash flow In-Class Activity spreadsheet
- Read Chapter 5: Chapter 5 Financial Management
For Homework
- Complete the take-home assignment for your farm: Session 5 Take Home Activity
- Complete the following sections in Ag Plan:
-
- Financial Position- your balance sheet OR
- Financial Projections- projected cashflows OR income statement AND enterprise budget
- Capital Request- your startup or capital budget, if you have not completed it yet (we covered this in session 3)
-
Generic Spreadsheets with Formulas
Classroom Examples
- NCFS Cash Flow Example 1
- NCFS-Cash-Flow-Example 2
- Farm Balance Sheet Example (from class)
- Smith Income Statement
Additional Help
Tackling financials can be challenging so we wanted to provide some additional material to help you along the way. Below are some resources we found helpful while working through financial statements.- Accounting-Financial Definitions
- Veg & Diversified Farm Financials Workbook
- Preparing an Income Statement
- Developing a Balance Sheet
- Developing a Cash Flow Plan
give us feed back about this page
