Understanding Your Farm Finances

Successful businesses have a number of things in common. One is that they implicitly understand their finances and use financial data to inform decisions, plan future activity, monitor and manage business growth and understand and identify risk.

In this workshop we will be examining:

• Understanding business accounts
• The purpose of financial accounts and management accounts
• The importance of budgeting and forecasting
• Constructing budgets and cashflow forecasts
• Monitoring performance and taking action
• Understanding where your profit comes from
• Cost accounting and managing diversified businesses.

All from the perspective of farm based businesses.

If you want to better understand your farm’s finances, improve your cashflow, make decisions about where to focus your efforts or where to invest, there will be something in this workshop for you.

Eligibility

This workshop is available to any farmer or land manager in Devon, Somerset, Dorset, Cornwall, or the Isles of Scilly currently in receipt of BPS payments.

To be eligible to participate in the Future Farming Resilience project and receive subsequent 1:1 support or attend further workshops, you will be required to complete a Monitoring Information form. Forms will be provided by your advisor, at a workshop, or emailed to you after an online workshop. Please ensure forms are completed swiftly. Please be aware that BIP may limit further access to specialist workshops or 1:1 advice, if the form is not completed.

If you have any questions please call us on 01837 659 059 or email team@businessinfopoint.co.uk. Please check our privacy policy and Devon County Council’s privacy policy to see how we store and manage your submitted data.