Our complete financial analysis of your operation is generated by software designed exclusively for the Iowa Farm Business Association. The reports contain information on the capital structure, sources of income, expenditures, net worth, management factors in crop and livestock production, usage of labor / equipment and detailed depreciation schedules. The reports can be broken out into individual entities like a cow-calf, seed corn or feeder pig operation. Business owners are also able to compare their operation with averages from other farms in their area and throughout Iowa.
This comparative analysis is provided in conjunction with Iowa State University (ISU) and the ISU Agricultural Extension Office. The individual and comparative analysis both have enterprise analysis segments. The comparative analysis allows the owner to compare their farm’s performance based on three agricultural market segments. These three segments are determined based on the gross income derived from the farming operation.
Our consultants are also able to look at the future of your operation from an operational standpoint. Murken Thompson uses a popular farm financial planning and analysis program to help chart the short and long-term direction of your operation. This software gives us the ability to evaluate alternatives and make educated decisions.
With the information available, we can use this tool to investigate how different changes or scenarios may affect your business’ viability. We can also compare a farmer’s current operation against up to fifteen alternative scenarios for long-range profitability, debt repayment ability, and net worth. Alternative plans can involve expansion, new enterprises, different sizes, combinations of enterprises, or changes in debt structure. Or, if a farmer just wants to fine-tune his or her operation, our consultants will help determine if the present operation is strategically positioned to meet tomorrow’s challenges.
For further information about the Iowa Farm Business Association, please visit their Web site