Objective: to understand the language around business finances.
This workshop is an opportunity to look beyond the physical production of your farming business to acknowledge and understand the farm business finances.
In this free workshop you will look at the three main financial reports: the Statement of Cash Flow, Statement of Income (Profit and Loss Statement), and Statement of Position (Balance Sheet).
You will examine gross margin as an important calculation used by farming businesses and explore enterprise gross margin to compare the impact of different enterprises within and across the whole farming business.
The workshop will also cover the information needed to make the most of your relationships with your bank manager and your other advisers.
It is important that rural business decision makers have enough knowledge to understand the financial reports provided by their accountants and or business advisers. These reports can also help you in your decision making and planning.
This workshop is for those decision makers who are new to the business and those who have not previously had the opportunity to attend business management training.
By the end of the day, you will:
- understand the language around financial concepts and financial terminology
- understand the information in three main financial documents: statement of cash flow, statement of income, statement of position
- understand what underpins a good business relationship with your bank or financier
- understand what you need to ask your professional advisors about your business
- throughout the day, you will hear current financial terms and theory, practice and experiences to you and your business.
Cost
This is a free workshop and lunch will be provided.
How to apply?
Register today for this free workshop [1].
For further information on this workshop please call 1800 198 231 or email workshops@dpird.wa.gov.au [2]or visit our Plan, Prepare, Prosper workshops [3] page.