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Key Accounting Concepts

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This section offers an overview of basic business concepts that are important for farmers as they build their record keeping systems and plan for growth.  Many of the concepts discussed in this section will come up throughout the program.

The videos in this module are referenced in The Farmer’s Office – First Edition Book.

 

Course Content

The Farm Financial Calendar
The Balance Sheet
Cash Flow Statement
The Income Statement
Revenue Recognition
Breakdown of the Balance Sheet
Multi-step Income Statement: In depth
Inventory
Cash vs. Accrual Accounting
Capitalized Costs
Financial Ratio Analysis and Benchmarking
Depreciation
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Julia Shanks

Julia Shanks consults with food and agricultural entrepreneurs to achieve financial and operational sustainability. Working with a range of beginning and established farmers, she provides technical assistance and business coaching that empowers them to launch, stabilize, and grow their ventures.

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