The objective of this session is to introduce a financial analysis teaching tool intended to teach producers WHY they need to put more time and effort into preparing adequate financial analysis for their operations. An Excel spreadsheet with extremely condensed versions of four basic financial statements (balance sheet, cash flow, income statement, statement of owner equity) will be presented to illustrate the information good financial statements can provide. This system of financial statements can be used to teach producers why all financial statements are necessary for adequate financial analysis; show the interaction between financial statements; and show the interaction between family structure and business financial position and performance. The Excel spreadsheet is available in two formats, Excel and a compiled version with a user friendly interface.
|Conference||2007 National Extension Risk Management Education Conference|
|Presentation Type||60-Minute Concurrent|