Farm Financials to Help You Sleep at Night – Part Two

Broadcast Date: December 12, 2019, 1:00 PM Eastern Time
Series: Alberta Wheat Commission
Presented By: Gavin Betker, Terry Betker
Theme: Strategic & Business Planning

Analyzing and managing financial performance can be both relatively simple and complex, at the same time … depending on what you’re trying to understand about it. In its most simple terms, financial performance can be defined as sustained positive cashflow … year over year over year. The complexity of financial performance is associated with understanding how profit is – or isn’t – being generated, and then figuring out what to do to improve it.

Financial efficiency is defined as the ability of a farm business to use its resources (operating inputs and expenses) efficiently. Profit is impacted by the financial efficiency of the farm. When profit margins are wide, there is usually strong cashflow. Often, when times are good (high profit / strong cashflow), less attention is paid to the detail of managing financial efficiency. But what about when times aren’t as good (low profit / weak cashflow)?

In this presentation, Terry and Gavin Betker will use their consulting experience to provide insight into analyzing financial performance, focusing on cost control measures that are designed to improve bottom line results.

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