Real Time Facts, Figures & Forecast
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Farm Prophet aspires to be a respected organization that works to strengthen and diversify your production operation by providing services, programs and solutions that sustain, grow and provide financial stability to each individual operation.
Management accounting has taken us from a "reactive" posture to a "proactive" posture. Management accounting and/or record keeping is a critical task in production agriculture that provides a vital form of risk management.
Farm Prophet, LLC
A knowledgeable and strong understanding of production agriculture and financing
A willing contributing member of your farm business team
A resource for questions and farm business management decisions
A resource to free up your time to spend on the things you enjoy and do best
Things to Remember:
Quality of life should be your number one goal for your farming operation.
Good records are okay, however great records are extremely important! If you don’t like record keeping, hire Farm Prophet as your business partner to do it for you.
Don’t make any big decisions based on one year’s financial performance.
Always do a December 31 balance sheet.
Your operation needs to have a positive cash flow for you and your family to keep doing what you love to do
It doesn’t make sense to borrow money at 6% or higher to invest in a farm operation that gives a 3% rate of return on farm assets!
You must understand your overall financial condition and know your break-even point.
Both production and financial records are important to the efficient management of today’s farm business. When such information is accurately maintained and categorized, it can be used to produce useful decision making information.
The lack of understanding and/or failing to make adjustments to elements that compromise a healthy financial picture, will determine the difference between profit and loss.