A 2-Part Foundational Series on Business Structure and Accounting for Ranch Businesses
This workshop is part of the second season of “Bringing Meat to Market,” a series of business trainings focused on the fundamentals of the supply chain, sales, and marketing of grassfed meats for western producers.
Educator: Poppy Davis
Prerequisite: Webinars can be watched “a la carte” but attendance for both is HIGHLY recommended.
This webinar is offered for free to SWGLA members and non-members.
People, Land, and Activities – Part I: A Framework for Structuring a Farm or Ranch Business
The first of two foundational farm and ranch business skills sessions provides a framework for understanding the essential components of any farm or ranch business and can help beginning farmers and farmers considering retirement and succession to break the task of starting or transitioning a farm or ranch down into manageable parts. We will look at examples of different business models, and the types of agreements between people that create a legal business entity. We will also explore the relationship between the activities of a farm or ranch business and the land or facility where the business operates.
Recording and presentation from Part 1 are available in our member resources area.
People, Land, and Activities – Part II: Understanding Liquidity (or Cash Flow) and How to Set Up Your Accounting Systems
The second foundational business skills session will provide a framework for understanding what you need to get out of your farm or ranch financial systems. We will look at examples of the reports an owner uses to manage a business for short term profitability, for long term wealth creation, and to understand cash flow. We will discuss the different purposes your accounting system must serve and the meaning of the separate disciplines of financial accounting, tax accounting, and managerial accounting with an emphasis on the most efficient ways to meet all of your needs without creating unnecessary complexity. We will also discuss software, the role of a bookkeeper, the role of an accountant, and the role of an income tax preparer.
Recording and presentation from Part 2 are available in our member resources area.