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3. 2006 National Extension Women in Agriculture Conference

Financial Planning with FAST Tools

Paul Ellinger

Summary

Agricultural producers face many decisions as they respond to changes in the global economic environment. These decisions are becoming more complex due to expanding input and enterprise choices, evolving marketing and risk management tools, and the availability of innovative financing opportunities. The profitability and financial viability of agricultural producers depends on the ability to make sound economic decisions. Moreover, access to financial capital will depend on a producer’s ability to prepare business plans and document the impacts of their decisions. A key component of these business plans will be pro forma financial statements under alternative economic scenarios.

This session will provide a discussion on the use of FAST tools to educate farm producers in annual cash flow planning as well as multi-year financial plans. The session will address the need to assess the short- and long-run profitability, liquidity, and risk implications of proposed business plans. The specific tools discussed will be the Financial Ratio Analysis and FAST cash flow projection tools.

The tools discussed are a part of a suite of 40 spreadsheets tools to aid in farm financial management. Experiences in hands-on computer workshops will be shared with participants. All participants will receive a complimentary copy of a FAST tools CD.

Details

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