Farm Management

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Farm Financial Management in Times of Tight Margins

When Jan 30, 2017 09:00 AM to
Feb 03, 2017 04:00 PM
Where Carrington & Minot
Contact Name
Contact Phone 701-231-8103
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IN-SERVICE TRAINING OFFERING

Two locations:

Carrington Research Extension Center, January 30th, 9 AM to 4 PM

Minot North Central Research Extension Center, February 3rd, 9 AM to 4 PM - this offering has been cancelled

Presenters:  Extension agents, Farm Business management instructor, Agricultural Mediation Service

The training is designed to enhance skills of Extension agents in assisting farmers with the financial decision making process as they face the challenging times ahead. Topics covered will be financial statements, financial ratios, cash flow, enterprise budgets, review of current ND situation, rental agreements and farm stress.

Lunch will be provided.

Registration Deadline: 5 PM, January 24th  online

AGENDA

9am

Balance Sheet and Income Statement    KATELYN HAIN   RON HAUGEN

                    Business or personal, Timing, Valuing assets, Market value vs cost value, Principal current vs non-current,
                    Accrued interest, Net worth, Working capital, Cash vs accrual

11:30am

Financial Ratios   MELISSA SEYKORA   CALLA EDWARDS

                    Liquidity, Solvency, Profitability, Repayment capacity indicators

Noon break

1 pm

Managing cash flow   KATIE WIRT   RON HAUGEN

Leasing: livestock    KATIE WIRT   RON HAUGEN

Enterprise budgets: crop and livestock    RANDY GRUENEICH   RON HAUGEN

Land rents and rental agreements   RANDY GRUENEICH   CALLA EDWARDS

Managing stress   LINDY BERG

2:30pm

Financial review of ND farms   JORY HANSEN, NDFBM (CARRINGTON)   AL GRANER, NDFBM (MINOT)

Ag Mediation    BETTY SCHNEIDER, AG MED SERVICE

3pm

Team discussion

4pm Adjourn

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