The farm business management education programs provided by North Dakota Farm Management (NDFM) are designed to provide education to farm owners and operators or persons interested in farming. The purpose of the program is to assist clients in meeting their business and personal goals. This is best accomplished through the use of quality records and sound business decisions.
To provide lifelong learning opportunities in economic and financial management for persons involved in the farming and ranching business.
NORTH DAKOTA FARM MANAGEMENT PROVIDES INSTRUCTION/ASSISTANCE IN FOUR MAJOR AREAS:
Business/Family goal setting:
- Where are we?
- Where are we going?
- How do we get there?
- What do we want to accomplish and when?
Farm/Ranch business records/accounting:
- Assist farmer/ranchers in all aspects of accounting and records needed for planning and analysis
- Budgeting livestock/crop enterprises
- Whole farm planning
- Succession/transition planning
- Partial year cash flow
- Long range budgets
- Annual cash flow
- Income tax estimating
…and much more
- Create a summary of how business performed during year
- Instruct and assist farm/ranch operators in assembling information needed to complete the year-end business analysis. The analysis includes:
- Income statement
- Balance sheet trends
- Statement of cash flows
- Calculates farm financial standards
- Costs and returns to crop and livestock enterprises
- Cost of production per unit