Understanding Accounts

For many farmers the annual accounts are primarily prepared for the benefit of others – the banker, the revenue, etc, and the information they give the owners of the business can feel like a secondary consideration.

However the farm accounts can provide real insights into your business, and this webinar is the ideal place to start if you want to ‘unlock’ the information they contain.

This easy to follow webinar is designed for anyone who isn’t already comfortable with accounting terminology and concepts.  Business specialist Chloe McCulloch, will show you how to understand your accounts, know what the different areas of information can tell you, and what you can do to drill down further.

What we will cover will include:

• How ‘gross output’ is calculated
• Variable costs v fixed costs
• Accounting for finance & borrowing
• How much profit do you need?
• What do the capital accounts tell you?
• What are debtors and creditors?
• 5 minute benchmarking!

This event has been run for a small number of local Women in Agriculture meetings where it was well very received, and it is now being opened up to everyone.  Comments we’ve received include:  “Brilliant!”  “Very informative and well presented.” and “very helpful”.