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3. 2005 National Extension Risk Management Education Conference

Mid-Shore Farm Financial Management Workshop

Shannon Potter

Summary

Financial management and recordkeeping is essential to farm business profitability. In a busy marketplace farms must be able to efficiently plan and record financial information. A QuickBooks course was scheduled during the winter of 2004 to teach farm businesses how to complete financial statements, set up a QuickBooks account and how to apply the software. The use of computers was essential for the participants to fully understand the program and to help engage the audience. This program therefore collaborated with a local community college for the availability of a lab.

Ten participants attended the class with many different interests ranging from family farms, corporations and ag lenders. There were six hours of instruction. End of class impact evaluations rated the course as excellent. 90% of the participants received considerable new information on farm records and how to make QuickBook entries, 100% of the participants received considerable new information on setting up accounts and how to navigate the QuickBooks program. Follow up evaluations were conducted. Two participants have purchased and are using the program and feel that it has increased the efficiency of their business and one participant is planning to purchase QuickBooks. This program was funded through the Northeast Center for Risk Management Education.

Details

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