Learn key financial management techniques for farming
Kansas State University's Agricultural Economics Department has refined its online course, "Finances and the Farm," to better assist farmers and ranchers in mastering crucial financial management skills.
This course is designed to help agricultural producers enhance their decision-making capabilities, thereby positively impacting their bottom line.
Spanning seven comprehensive lessons, the course covers Recordkeeping, Balance Sheet, Income Statement, Enterprise Budgeting, Cash Flow, Managing Family Living Expenses, and Goal Setting.
Each topic is crafted to build a robust financial understanding, enabling participants to structure their farm operations more effectively.
The course structure is interactive, involving various learning methods such as short videos, interactive reviews, practical activities, and quizzes.
These components are strategically incorporated to facilitate a real-world application of theoretical knowledge. Participants get to practice on two case farms—Row Crops and Beef Cattle or Vegetable, Egg, and Honeybee Farm—allowing them to relate the content directly to their specific farming operations.
The course offers valuable resources, including paper sheets and Excel documents, to aid participants in developing financial statements tailored to their farms.
This self-paced course allows up to six months for completion, though a 2–4-week completion schedule is recommended for optimal learning engagement.
At a cost of $100 for education only, or $300 for those seeking Farm Service Agency borrower’s training financial credit, the course is accessible and affordable.
It is approved for FSA Borrower’s Training Financial Credits in multiple states, ensuring wide eligibility. Upon successful completion, participants receive a certificate, signifying their competence in farm financial management.
Feedback from past participants highlights the breadth and depth of knowledge gained, which has significantly aided them in making strategic adjustments to avoid financial pitfalls and set realistic goals for their farming operations.
Registration for the course is open online, inviting farmers and ranchers to seize this opportunity to advance their financial management skills and set their operations on the path to success.