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Farm Financial Check-up

Financial Check-up


           

FARM ASSETS Cost Valuea Market Valueb FARM LIABILITIES Market Value
Checking & Savings Accounts Accounts Payable (owed)
Crops held for sale or feed Farm taxes due
Investment in growing crops Short-term notes and credit lines
Commercial feed on hand Accrued interest
Prepaid expenses Other accrued expenses
Market livestock    
Accounts Receivable    
Supplies on hand (feed, fuel, chemical)    
Other    
Total Current Assets Total Current Liabilities
 
Breeding livestock Notes payable  
Time certificates    -Machinery
Farm securities    -Breeding livestock
Machinery and Equipment Other
Other    
Total Intermediate Assets Total Intermediate Liabilities
 
Buildings/Improvements Real Estate Debt
Farmland Other
Other    
Total Long-Term Assets Total Long-Term Liabilities
 
A. Total Farm Assets B. Total Farm Liabilities
 
PERSONAL ASSETS Market Value PERSONAL LIABILITIES Market Value
Bank accounts, stocks, bonds Credit card, charge accounts
Automobiles, boats, etc. Automobile loans
Household goods, clothing Other loans, taxes due
Real estate Real estate, other long-term loans
Other Other
C. Total Personal Assets D. Total Personal Liabilities
     

aAssets are valued at their original purchase cost less depreciation (i.e. book value)
bCapital assets are valued at their estimated current market value

INCOME EXPENSES
Cash Income Cash Expenses
Sale of livestock Livestock purchased
Sale of crops Feed purchased
Agricultural program payments Breeding fees
Crop insurance proceeds Car and truck expenses
Other cash income Chemicals
A. Total Cash Income     Conservation expenses
Income Adjustments At start of year At end of year Custom hire
Crops held for sale or feed Employee benefits
Livestock held for sale Fertilizer and lime
Accounts receivable Freight, trucking
Breeding livestock Gasoline, fuel, oil
Other Insurance
B. Net change in Income Adjustments Interest paid
C. Estimated value of home-used production Labor hired
D. Gross Farm Revenue Pension and profit-share plans
Sales of farm capital assets Rent of land, buildings, equipment
   -Machinery Repairs, maintenance
   -Land Seeds, plants
   -Other Storage, warehousing
Cost of capital assets sold (book value) Supplies purchased
   -Machinery Taxes (farm)
   -Land Utilities
   -Other Veterinary fees, medicine
E. Capital Gain of Loss     Other cash expenses
  E. Total Cash Expenses
  Expense Adjustments At start of year At end of year
  Investment in growing crops
  Prepaid expenses
  Supplies on hand (feed, fuel, chemical)
  Other expense adjustments (assets)
 
  Accounts payable (owed)
  Farm taxes due
  Accrued interest
  Other accrued expenses
  Other expense adjustments (liabilities)
  G. Net Change of Expenses Adjustments
  H. Depreciation
  I. Gross Farm Expenses
  
Financial Analysis
Balance Sheet
Current farm assets
Current farm liabilities
Total farm assets
Total farm liabilities
Income Statement
Gross farm revenue (accrual)
Net farm income from operations (accrual)
Farm capital gains and losses
Farm interest expense (accrual)
Farm depreciation expense
Farm taxes expense

 

Liquidity Measures
Current Ratio
Working Capital
Solvency Measures
Debt-to-Asset Ratio (%)
Net Worth
Profitability Measures
Net Farm Income
Return on Assets (%)
Operating Profit Margin Ratio (%)
Times Interest Earned Ratio
Financial Efficiency Ratios
Operating Expense Ratio (%)
Depreciation Expense Ratio (%)
Interest Expense Ratio (%)
Net Farm Income Ratio (%)
 

 

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