ND Farm and Ranch Business 
Management Education Association

Farm & Ranch Business Management Education – Are You Involved?

By Allen Graner, Farm & Ranch Management Instructor, Rugby Public Schools

Dec, 12, 2005-- Rugby, ND    Limited cash flow from increased costs of operation, fluctuations in the markets for their commodities has increased the awareness of today’s farm & ranch producers to seek better ways managing their businesses.

The North Dakota Farm Business Management Education (NDFBM) is an education program that assists today’s farmers and ranchers to develop the business skills necessary to compete in today’s business climate. NDFBM is a comprehensive education program developed to provide producers with enhanced financial management skills to better understand their own businesses.

A system of sound financial and production records is the basis of farm management education. NDFBM works with a variety of accounting systems. An analysis of the information from the farmer or ranchers accounting system is completed at the end of each year using a comprehensive farm financial planning and analysis from the University of Minnesota called FINPACK. This analysis provides producers with the needed information about costs of production for enterprises raised within their businesses, financial statements (balance sheet, income statement, cash flow) and comparisons of similar sized farm operations in their area. With data collected from participating producers NDFBM publishes annual average reports to serve as benchmarks which producers can use for comparison of their businesses to other similar farm and ranches in their region and across the state.

Marketing Education is also provided within the programs to assist producers with skills needed to increase the profitability of their operations. Instruction in basic marketing skills includes understanding the cash markets along with additional education in futures and options. This marketing information can assist producers in receiving better returns for their production and added profitability for their farm or ranch business.

 To get involved with a farm and ranch business management education program in your area contact Steve Zimmerman, State Supervisor for Agricultural Education at the state capitol at 701-328-31262 or visit our website at www.ndfarmmanagement.com

NDFBM is sponsored by the North Dakota Department of Career and Technical Education.

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Last modified: April 25, 2008