Farm Management Software Blog
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.
Tags: cost accounting, Farm Financial Standards, accrual accounting, agricultural managerial accounting, agricultural inventories, ag software, farm accounting, enterprise analysis, integrated production and financial software, integrated farm software, cost analysis
Tags: activity-based costing, farm financial standards council, cost accounting, Cost center allocation, Farm Financial Standards, accrual accounting, farm financial reporting, agricultural managerial accounting, FBS Systems, farm software, ag software, agricultural software, Farm Margin Management, farm profit centers, integrated production and financial software
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:
Tags: managerial accounting, activity-based costing, farm financial standards council, farm financial statements, Farm Financial Standards, accrual accounting, farm financial reporting, cash or accrual, agricultural managerial accounting, Purdue Ag Economist, Dick Whittman, Freddie Barnard, Barbara Wheeling, Alan Miller
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.
’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.