Farmers need good information to make sound decisions. Participants will develop a total farm plan based on economic principles and enterprise budgets. Risks of modern agriculture also are discussed. A financial management segment teaches how to create and analyze balance sheets, and income and cash flow statements to determine how the farm is doing. Two marketing sections cover aspects from cash sales to technical market analysis.
Farmers often have to make decisions for the next year before the year's crops are in.
Hindsight is always 100 percent, but good records, when analyzed, are vital sources of information for farmers as they make these decisions on future events. Art Smith, DeSoto County Extension agent, said financial planning and analysis can help farmers streamline their operations and make them more cost conscious. You can live or die based on just a few cents per pound or 30 to 40 cents per bushel. Courses will be taught at eight sites from Nov. 1 through early March. Courses last about 40 hours, varying with the material covered and the time frame.