Farm Management Software Blog

2019 Farm Financial Standards Guidelines Released

Posted by Norman Brown on Wed, Jan 30, 2019 @ 02:12 PM

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Tags: farm financial statements, farm financial reporting, Farm Financial Standards, farm financial standards council

Farm Accounting Method ABC: "Mountaintop Managerial Experience"

Posted by Norman Brown on Mon, Jan 05, 2015 @ 01:34 PM

In prior installments in this series, we covered the two key questions in the Growth Path Accounting Decision Tree.  This month we continue tracing the accounting results from these decisions.

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Tags: cost accounting, accrual accounting, agricultural managerial accounting, ag software, farm accounting, enterprise analysis, Farm Financial Standards, agricultural inventories, cost analysis, integrated farm software, integrated production and financial software

Growth Path Farm Accounting III

Posted by Norman Brown on Fri, Mar 28, 2014 @ 03:08 PM

 

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Tags: farm financial statements, accrual accounting, farm software, farm accounting, growth path accounting, Farm Financial Standards, agricultural inventories

Are You a "Big Bucket" Farm Accountant?

Posted by Norman Brown on Wed, Jun 12, 2013 @ 03:31 PM

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Tags: cost accounting, accrual accounting, farm financial reporting, agricultural managerial accounting, farm software, ag software, agricultural software, Cost center allocation, Farm Financial Standards, activity-based costing, farm financial standards council, FBS Systems, Farm Margin Management, farm profit centers, integrated production and financial software

Has Farm Enterprise Analysis Lost Its Usefulness?

Posted by Norman Brown on Tue, Jun 26, 2012 @ 07:49 AM


In 2008 the Farm Financial Standards Council (FFSC) published Management Accounting Guidelines for Agricultural Producers.  These recommendations prompt these questions regarding traditional farm enterprise analysis:

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Tags: managerial accounting, farm financial statements, accrual accounting, farm financial reporting, agricultural managerial accounting, Farm Financial Standards, cash or accrual, activity-based costing, farm financial standards council, Purdue Ag Economist, Dick Whittman, Freddie Barnard, Barbara Wheeling, Alan Miller

Farm Financial Management: Know Before You Grow

Posted by Norman Brown on Wed, Apr 25, 2012 @ 04:48 PM

 

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Tags: farm financial reporting, best practices, Farm Financial Standards, quickbooks, FBS Systems

Farm Financial Time Warp

Posted by Norman Brown on Wed, Nov 16, 2011 @ 07:05 PM

Attendees at the 2011 Ag Bankers Conference experienced a warping of the time-space continuum as 93 percent reported that their farm customers were managing their farms like it was 1981, not 2011.  Unbelievably, only seven out of 100 lenders had clients using accrual accounting.

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Tags: farm financial statements, accrual accounting, Farm Financial Standards

How Does Your Farm Do Financial Reporting?

Posted by Norman Brown on Tue, Nov 08, 2011 @ 05:24 PM

’Tis the season to toil over financial statements.  Many of you depend on programs like Finpack and AFRA (Agricultural Financial Reporting and Analysis) to convert your cash-basis accounting records to “adjusted accrual” financial statements.  Based on the Coordinated Financial Statement forms developed at the University of Illinois in the late 70s, AFRA will be celebrating its 30th birthday in 2014.

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Tags: Farm Financial Standards, AFRA, Coordinated Financial Statements for Agriculture