Financial statements, Part 2 How to gather the data that will provide meaningful information
publication date: Nov 1, 2015
Last month, we reviewed the structure of the three key financial statements for your farm. This month, we’re going to look at how to gather the information to put these statements together, as well as a few key measures that your statements can provide. Just like writing a high school term paper, it takes some research and pulling information together from a variety of sources to put together a robust picture of your farm finances, but in the end the processes as well as the outcome both provide real value to your understanding of the subject. You’ll take inventories, gather information from your bank and bookkeeping system, and collect data from online resources.
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