HAPPY THANKSGIVING
"Yes,
the LORD will give what is good;
And our land will yield its increase."
Psalm 85:12 |
Many of you have experienced truly remarkable increases this year. Others are still struggling to "safely gather in, 'ere the winter storms begin." Yet we've all been blessed beyond our ability to measure or imagine. Join with us in humble thanks to the God to sends "rain on the just and unjust," yet promises His children even greater eternal blessings.
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WHAT CAN YOU REALLY EXPECT FROM MANAGERIAL ACCOUNTING?
Earlier
this month all the software companies providing managerial accounting
to agriculture shared their experiences at the Farm Financial Standards
Council annual meeting in Sacramento, California. The Council is active
in coordinating the introduction and standardization of managerial accounting
(M.A.) in agriculture. (FBS's entry into this category is called e.CLIPSE
Participants were asked to reflect on:
| 1. Who's
the target audience for M.A.? |
| 2. Who
is not the target audience? |
| 3. Prerequisites
for success. |
| 4. Specific
benefits clients are achieving from M.A. |
| 5. Opportunities
for partnering with professional financial service providers. |
Who can benefit from Management Accounting?
Although any operation can technically benefit from knowing and managing costs, not everyone is ready for M.A. The early adopters all share one or more of these characteristics:
| • |
Strong
management focus |
| • |
Well-defined
management segments and specialized responsibilities |
| • |
Tend
to be "splitters" rather than "lumpers" |
| • |
Already
familiar with M.A. |
| • |
Require
monthly or quarterly financial reporting |
| • |
Have
reached a plateau |
| • |
Either through using "Old World" enterprise analysis / adjusted accrual (FFSC standards) |
| • |
Or
full accrual using Quickbooks, MAS 90, Great Plains, etc.
and external inventory valuation scheme |
| • |
Larger operations ($2 million in sales and above) are logical (but not exclusive) candidates |
However, you are
not a candidate for M.A. if:
| • |
You place a low priority and value on management information |
| • |
You don't like structure and accounting standards |
| • |
You're not going to use the knowledge to make decisions |
| • |
You're impatient (everyone agrees the "end result" requires at
least two years!!!) |
| • |
Even in the 21st Century, biological cycles have not been repealed |
| • |
Each season / production cycle requires adjustments and refinements |
Prerequisites for
success
| • |
Internal "controller" and/or MIS "champion" |
| • |
Awareness and appreciation for management accounting |
| • |
Active involvement by accountant or financial consultant |
| • |
Strong "information culture" |
| • |
Inventory control (the greatest limiting factor in any level of farm records) |
| • |
Timeliness |
| • |
Delegation |
| • |
Commitment to continuous improvement |
Next month, we'll
review some of the (unexpected) benefits that farmers are discovering
from M.A., as well as some exciting opportunities to partner with financial
professionals.
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A SECOND WORD TO THE WISE—SCHEDULE TRAINING NOW!
We're approaching
the peak training season-the time of the year when everyone wants help
closing, installing, converting, configuring or optimizing their software. Daryl,
Doug, Curt, John and Norm are ready and willing to come on-site and deliver
answers and solutions tailored to your needs. While we can
sometimes accommodate a last-minute request, the most effective use of
our time and your money is to coordinate training for users within the
same locale. That requires some advanced notice and planning!
So, if you anticipate needing help any time in the next 5 months, contact
us now at 800-437-7638 or sales@fbssystems.com.
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PAYROLL
UPDATE NEWS
Version
9.0 of Red Wing Windows Payroll is ready to be released. It
will be mailed in December. The new Red Wing Taxforms software
provides users with the 2004 federal tax forms versions, including W-2,
1099 and 941 forms. Two additional federal forms have been
added to Tax Forms: 1099-Div and 1099-Patronage. W-2s
can now be e-filed with the Social Security Administration, saving valuable
time. In Payroll Worker's Compensation reporting has also been
enhanced to better track various overtime pay methods, which allows customers
to save money with more accurate reporting of earnings. 2005 Tax Table
Updates will be available the end of the December. You will be able to
download them by selecting the Download/Review Tax Table bar on the main
payroll menu.
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|
SOFTWARE Q&A
– WITH Q'S FROM YOU, OUR CLIENTS!
Send us
your questions/problems–be they short, long, simple or downright
frustratin'!–about SeRVware
and we'll handle them right "on the air" for the benefit of all.
|
Q.
|
How do I install my new FBS Version 7.6 (Windows) software? Should I wait until after I have closed out this year?
|
| a.
|
There is no need to wait until you close this year's books to update the software
| 1. |
Before
you insert the FBS 7.6 CD, right-click on your FBS icon,
then left-click on Properties. Make
note of your Start In Directory. This
is especially important for network installations. |
| 2. |
Next insert the program CD. Select the programs
from the list that you want to install. Verify
that the installation path is correct. The
default directory is C:\FBSWIN. The installation
path must match the Start In Directory on the
FBS icon. If it doesn't match your Start
In Directory, click on the browse button to the
right and select the correct program directory (folder).
Then finish the installation. |
|
Call in your questions (800.437.7638) or e-mail them
to support@fbssystems.com. |
| |
|
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CLIENT'S CORNER
• In The News!
Alden
Zuhlke, Brunswick, Nebraska, was among the 2004 winners of the Husker
FARM (Farmers Advocating Resource Management) Award sponsored
by the Nebraska Corn Growers Association.
Read how Mike Sollars, Washington Court House, Ohio, uses a mix
of technology and logistics to make the most of his grain system in
the November, 2004, Corn and Soybean Digest.
Tom and Trent Boyd of Washington, Indiana, share their
experience with Roundup Ready Corn in a recent Monsanto "advertorial"
in the November 2004 edition of Farm Industry News.
National Hog Farmer in the November 15, 2004 issue describes
how Malta, Illinois, pork producer Bert Huftalin is controlling
the environment inside and outside his wean-to-finish
barn by employing Danish chimney ventilation technology, in "Never
Too Hot, Never Too Cold."
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