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Enterprises - Who Are Your Winners & Losers? Introduction to the Rutgers Cost Accounting Spreadsheet -Mitigating Risk Across Common Barriers to Profitability Webinar Series

Robin G Brumfield ( March, 2022 )

Summary

This webinar will explain how to use a user-friendly software to develop enterprise budgets. It uses Microsoft Excel and is distributed by Rutgers University to develop an enterprise budget showing costs and returns for each crop that you produce. The spreadsheet uses information that you already have on hand from your accountant: income statement (or Schedule F) and balance sheet. The spreadsheet then generates costs and profitability of each crop. Thus, you know which crops are winners and losers; thus, giving you information to make decisions on pricing, reducing unprofitable production costs, and increasing sales of profitable crops. The program also calculates the percentages of each overhead cost, 17 key financial ratios, and a cash flow statement to allow you to plan for your monthly cash flows. In addition to analyzing your actual costs, you can use the spreadsheet as a planning tool to analyze the impact of increased costs and prices as well as changes in marketing mixes, or other changes you are considering in your business. The spreadsheet can also be used enter pro forma data for a future farm business. Presented by Dr. Robin Brumfield, Specialist in Farm Management, Rutgers University, New Jersey

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Details

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Filed Under

1. Financial Risk
2. Financial Management

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