Post-COVID trade shows were not for the timid.

Dear Friend,

We're sorry we missed you at the two biggest winter trade shows.  At the National Farm Machinery Show all of out neighboring exhibitors "bailed" (see lower photo), and at the Commodity Classic the exhibitors were "thick on the ground," but the farmer traffic was unusually light.  We did visit with the hardy FBS/MASA users pictured above.  Hope to see you in June at the World Pork Expo!

• Save the date for the 2022 Ag Software Success Summit.
• LifeCycle Budget added to FBS video library.
• "Know Before You Grow" management practices survey.
• FBS/MASA users in the news.
• Beginning balances.

The biggest event in computerized farm management--the 2022 MASA Ag Software Success Summit--will be returning in late August (tentatively August 29-31) at a new location. We are working on the venue and will announce more details in our next newsletter.

LifeCycle Budget added to FBS Video Library

It's hard to believe that in the third decade of the 21st Century, farm budgeting and projections are still primarily a DIY spreadsheet endeavor with no connections to historical financial records or future performance.  Learn how we've addressed this key process through a dynamic budgeting model that integrates with accounting and production records.

Click here to browse or watch.

Click here to access all FBS training videos.

	Management Survey Last month we defined external and internal knowledge.  Before we move ahead, we invite you to take this internal Management Practices survey.  In an upcoming FarmSmart issue you'll be able to see how you compare with your peers.
	Plus, you'll receive a free copy of the 2021 Management Accounting Guidelines for Agriculture from the Farm Financial Standards Council (a $30 value).

Managerial Accounting Advantages

Rob Barley, Star Rock Farms, Conestoga, Pennsylvania, was quoted in the December 2021 Farm Journal Top Producer:   

"With our managerial accounting approach, every bill is allocated not only to the right entity, but also to the right category within the entity.  It's much easier to understand what's working and what is not working."

Listen to Rob's conversation with Paul Neiffer on the Farm CPA Podcast as he shares lessons he's learned from experience in running this operation including FBS managerial accounting.

Monitoring Animal Health 

Michigan pork producer Joe Dykhuis describes how Dykhuis Farms effectively monitors animal health in over 40 locations through Farmera software in the February 2022 Successful Farming article "Listening to the barn."  It reports, "In the past, they only worked with feed costs, death loss, and some cost-of production information.  They now have data points for productivity-impacting things that they can measure against outcomes."

A Farmer’s Story on Inflation and Inputs

In a recent Farm Journal AgWeb article, Mississippi grower Danny Murphy shares that, "Matching input prices and crop prices is not easy year over year to stay in business, especially when things move unusually quickly or unexpectedly.” Murphy adds, “You talk about a challenge, but that’s what farmers left today have to face. Farming always changes in one way or another, but you can be sure of one thing: the input costs are going to keep climbing.” 

Q&A: Beginning Balances
Q.   How does FBS "Roll Beginning Balances" work?  Can I make changes to prior years after creating balances for the current year?  What's the best way to adjust this year's beginning balances?	Sarah Dixon, FBS Support Coordinator
A.  FBS is very automated and "user friendly" when it comes to moving balances across calendar and fiscal years.  Watch this video for best practices and tips for starting a new year or keeping accounting years in "sync."