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Farm Financial Fluency Training Program
March 7, 2023 @ 10:00 am - 12:00 pm
The Farm Financial Fluency Training Program will be delivered by Farm Management Canada and MNP and take place over three sessions. Please be prepared to attend all three sessions to get the most out of the program. Sessions will occur on:
- March 7 from 10am-12pm CST / 9-11am MST
- March 8 from 10am-12pm CST / 9-11am MST
- March 9 from 10am-12pm CST/ 9-11am MST
Your registration applies to all three sessions.
Click here to register.
About the Program
Financial literacy is a fundamental starting point for effective farm business management, helping producers understand the direct impact of their business decisions, and opportunities available going forward.
Through the Farm Financial Fluency training program, you will learn:
- Why financial reporting is important and to whom
- Key differences between types of financial reporting and who uses what
- Different farm business structures and their impact on financial reporting
- How to interpret your financial statements (balance sheet, income statement, cash flow)
- Financial ratios and how to use ratios to analyze risk
- How to spot potential financial issues and opportunities
- Tools and resources available to manage financial risk
This program will be directed to registered canola growers in Alberta, Saskatchewan and Manitoba.
Session Topics
Farm Financial Fluency – Session 1- March 7 (10am-12pm CST / 9-11am MST)
- Why is Farm Financial Fluency important?
- Cash versus Accrual Accounting
- Business Structures
- Financial Reporting
- Financial Statements: Balance Sheet
- Account Standards: Impacts
Farm Financial Fluency – Session 2- March 8 (10am-12pm CST / 9-11am MST)
- Financial Statements: Income Statement
- Cash Flow
- Ratios and Analysis
- Sector-Specific Metrics and Ratios
- Managing Financial Risk
- Resources Available
Farm Financial Fluency – Session 3- March 9 (10am-12pm CST / 9-11am MST)
- Case Study (pre-read)
- Interpretation of the case study and application of a specific farm situation
Farm Financial Fluency – Optional Complimentary Meeting
- Optional one-time complimentary meeting with an MNP business advisor to discuss the interpretation of your financial statements (60 minutes)