KSU course helps farmers with management decisions

A farm financial analyst with Kansas State University says an updated online course can help farmers and ranchers better understand financial statements as they make management decisions.

LaVell Winsor tells Brownfield producers are allowed to complete the ‘Finances and the Farm’ course on their own schedule. “We’ve re-recorded the videos and then also added in interactive activities,” she said. “We’ve had over 1000 people take this course. All of the feedback has been very, very positive.”

She says it covers seven key areas including record keeping, balance sheets, income statements, enterprise budgets, cash flow, goal setting, and management of living expenses. “We take some of those lessons of what is your lender looking for and bring it into the course so that farmers can better use those financial statements.”

Winsor says the course is recommended for all generations of farmers. Producers can sign up on the Kansas State Research and Extension website.

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