Good records are not complicated, but they do require attention, commitment and education. We might not understand how to keep accurate books, Chris Anderson encourages businesses not to clear away the fog and help your business see the landing strip ahead.
When changing accounting software, going through entity formation or just upgrading computers, producers often wonder what accounts to set up. As a best practice, set up the most meaningful accounts. Financial Services Leader Carolyn Huff provides guidance on record-keeping standards – especially those important for tax reporting or common for a given industry.
Are you in compliance with the Federal Motor Carrier Safety Regulations? Read a summary from a recent webinar hosted by Farm Credit East that helped navigate these ever-changing laws and certain agricultural exemptions.
Every farmer, fisherman or forest product producer defines success differently. For some, success is measured strictly in dollars and cents: the “bottom line.” Others make non-financial goals a priority. Nonetheless, every successful producer shares a few key management and financial practices. Here are some practices recommended by Dr. David Kohl, an agricultural economist specializing in farm business management.