Financial statements provide farmers with insight into the financial position and performance of farm business. Accurate records and financial statements are the foundation material required to analyze the financial condition and trends of your operation and can be benchmarked against other similar operations. This webinar is designed to help you better understand key concepts in financial statements and focusses on cashflow, debt, equity, profit and taxes.
In this session, you will learn:
- The purpose of a balance sheet
- How to use the income statement to determine how your farm is performing
- How money flows through a farm
- How debt and equity are measured
Meet Your Facilitator
Kim Gerencser is a Senior Manager with MNP’s Farm Management Consulting team in Regina. Kim serves family farms, primary producers and farm businesses striving to go from good to great.
Kim brings a deep understanding of the issues his clients face and a unique combination of experience to his role, with a background as a farmer, a lender to complex progressive farms, and an advisor-consultant. Drawing on a decade-and-a-half of experience working with primary producers and family-owned small- to medium-sized enterprises, Kim provides clarity and practical advice, allowing his clients to make decisions more easily and with confidence.
Kim helps his clients with profitability and cash-flow improvements, business strategy, debt financing, financial management and analysis of profit and cashflow. He advises his clients on the development of business strategies tailored to management and owner goals, the development and analysis of financing strategy, process improvements, and risk management analysis.
Kim earned a Bachelor’s in Applied Financial Services (BAFS) in 2004 and an Honors Diploma in Business Administration in 2002 from Lakeland College. He is a 2018 graduate of The Executive Program for Agricultural Producers (TEPAP) from Texas A and M. Kim is the Canadian Association of Farm Advisors board chair.