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Digging into Farm Accounting
March 15, 2019 @ 4:30 pm - March 16, 2019 @ 5:00 pm
Accounting can be one of the most difficult and essential tasks in owning and operating a farm.
At MFT we believe you can, and should, get to know and understand the story your financials are telling you.
That’s why we are offering Digging into Farm Accounting, a free two-day accounting workshop in a relaxed and friendly environment in Caribou on Friday, March 15th from 4-7:30PM and Saturday, March 16th from 9AM–5PM. This session is especially for farmers operating in Aroostook and Washington Counties.
Pre-registration is required. Please fill out the form at the bottom of the page.
- Julia Shanks’ The Farmer’s Office: Tools, Tips, & Templates to Successfully Manage a Farm Business.
- Access to 11 essential farm business templates including QuickBooks charts of accounts for Mac & PC, and a Powerpoint Investor Presentation Deck.
- Dinner on Friday; lunch on Saturday
Having attended Friday and Saturday’s sessions, you will:
- understand the uses of the three major financial statements (balance sheet, income statement, cash flow), how they are related, and why each one is important
- better understand what makes you money
- understand the difference between cost and price
- understand, identify, and calculate critical financial data points
- know what information you need to plan for slow times and for growth
- be better prepared for productive conversations with your lenders and investors
- understand how to use your financial history to plan year ’round (not just at tax time)
Why invest your time to attend?
You can’t control the weather, the market, commodity prices, what your customers are going to do, inputs availability, interest rates, and fuel prices. But you can – and should – get to know and benefit from story your financials are telling you.
In a relaxed and friendly environment where every question is welcome, you’ll learn how to use your financial statement history to make the very best business decisions for your farm, find out who to ask for help, and get better working with the people who are helping you.
Various Friday night options are available in Caribou and Presque Isle. On a first come/first served basis, for farmers from Washington County, limited funds are available to help defray some overnight costs.
Bangor Savings Bank is generously sponsoring this training.