Basic Accounting: Guidance for Beginning Farmers

Introduction

Good bookkeeping is critical to financial well-being for any business. It allows the business owner (the farmer) to see whether the business is profitable, set and monitor progress toward goals, and, above all, plan for the financial stability of the farm. The purpose of this publication is to make basic accounting approachable for people with little or no accounting experience and encourage new farmers to develop good recordkeeping habits at the outset.

Table of Contents

Introduction
Annual Cash Flow Budget
Statement of Cash Flows
Income Statement
Balance Sheet
Recordkeeping
Conclusion
Further Resources
Appendix 1: Cash Flow Budget Template
Appendix 2: Income Statement Template
Appendix 3: Sales Log Template
Appendix 4: Balance Sheet Template

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