Farm Financials Toolkit
The Farm Financials Toolkit is designed to help you track and analyze your farm’s financial performance like never before. In Canada, accounting firms and farms each have their own way of setting up their financial statements. However, this becomes problematic for farmers who seek to benchmark their performance year over year, and against other farms. It also becomes problematic when farmers want to see how their management practices impact their financial performance and seek areas for improvement.
The Farm Financials Toolkit helps organize your farm financials into logical, standardized categories of expenses that can then be used to calculate financial ratios. In turn, the ratios can be used across groups of farms to provide performance benchmarks.
The Toolkit adheres to the new international standard for farm financial statements and uses accrual accounting rules. It is designed for farm accountants and farmers with intermediate to advanced accounting skills.
Sign in or create an account to begin completing your financial statements. Once signed in, you will be able to begin filling out the Income Statement for your farm business. If you have questions about the way the sections are organized or how each term is defined, click the “Help” button at the top of the page.
Begin filling out the Income Statement for your farm business by clicking on “Income Statement” or “Access My Income Statement”, above. If you have questions about the way the sections are organized or how each term is defined, click the “Help” button at the top of the page.
After you’ve completed your Income Statement, you’ll be prompted to fill out a Balance Sheet. Once again, the “Help” button at the top will display some pointers on how to complete this section of the tool.
Once you’ve completed your Income Statement and Balance Sheets, you’ll be able to use the My Results and My Ratios pages to review your summary financial statements and your detailed financial statements, view your financial ratios, and compare your Ratios against industry-wide benchmarks.
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