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Human Resources & Labor

Financial Management – Statements & Analysis

A series of financial management articles that examine financial statements and financial analysis. Financial management involves the evaluation of liquidity and solvency, financial planning, acquisition and use of financial resources, asset purchases and farm growth, and relationships with agricultural lenders.

Is it Feasible for my Farm to Add an Operator or Hired Employee?

As a farm expands, it is important to evaluate the feasibility of adding an operator and/or hired employees as well as the feasibility of purchasing or renting additional land, and machinery and equipment. The feasibility of augmenting labor on a farm depends on two critical factors: gross revenue and profitability.

Assessment of Management Skills

Assessing management skills is an important part of benchmarking farm performance and figuring out where improvements may be needed.