Webinars to Help Businesses Learn to Manage Farm Finances

UNIVERSITY PARK, Pa. – Penn State Extension will host a webinar series to help agricultural businesses learn to manage finances.

The “Farm Sense” series will take place over four three-hour webinars, each covering a specific topic, from July 25 through Aug. 15.

Organizers say that agricultural businesses are different from other types of businesses, and producers need to develop and maintain accurate and consistent financial and production records.

In addition to helping anyone interested in developing financial statements, the course is also designed to assist U.S. Department of Agriculture Farm Service Agency loan recipients who need to fulfill borrower training requirements. “Farm Sense” satisfies requirements for the production and financial training modules for borrowers.

The instructor-led webinars are intended to help participants gain a better understanding of cash management, net worth, profit and loss, budgeting, risk management and production planning.

The course will cover how to:

  • Build a cash flow statement, balance sheet and income statement.
  • Organize and use financial records to make informed financial and production decisions.
  • Use financial ratios to determine a business’s financial strength.
  • Create a partial budget to examine whether an opportunity or change has the potential to be profitable.
  • Develop a risk management plan for a business.

The cost for the series is $350. For more information or to register by July 25, click HERE.

Published by The Business Journal, Youngstown, Ohio.