AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone #

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone #"

Transcription

1 AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone # For the purpose of obtaining credit from Ramsey National Bank (RNB) and any future credit granted by the RNB, or to support an extension of credit already given, I (we) make the following financial statement: Applicant: NAME ADDRESS BIRTHDATE DEPENDENTS SOCIAL SECURITY NO. NUMBER Co-Applicant: CURRENT ASSETS AMOUNT CURRENT DEBTS AMOUNT Cash Life Insurance (Amt $ ) Stocks & Bonds Notes - Unsecured Col. Notes & Accounts Crops - Seed Accounts - Feed, Gas Crops - Sale Medical Credit Card Debt Household Goods Owing Relatives Invest Growing Crops RE Int. - Rent - Taxes (Past Due) - Liens Deferred Income Tax Liability INTERMEDIATE (1 to 7 yrs) Terms Yr Due Machinery - Equipment Vehicles TOTAL Last Yr. $ TOTAL Last Yr. $ FIXED ASSETS LONG TERM DEBT Acres Sec. Twp. Range County D or LC Acres To Terms TOTAL LONG TERM Last Yr. $ TOTAL FIXED ASSETS Last Yr. $ TOTAL DEBTS Last Yr. $ TOTAL ASSETS Last Yr. $ NET WORTH Last Yr. R.E. Appreciation This Year $ Contingent Liabilities Rented Land: Terms Landlord Date of Last Financial Statement: Till Acres Sflow Soybea Beans Bly CRP Explain Major Changes:

2 Page 2 LOAN PURPOSE - Immediate Amount *REPAYMENT PLAN: Alimony, child support or separate maintenance income need not be revealed if applicant or co-applicant does not choose to have it considered as a basis for repaying this loan. Date *Source Amount LOAN PURPOSE - Future Total Immediate Total Loan Requested Total Repayment I (we) represent that this statement is true and authorize the RNB or its agents to verify the information contained in this statement and to obtain additional information concerning my (our) financial condition and furnish the same to others. This statement is the property of RNB. The RNB can consider the statement to continue to be complete and accurate unless written notice is given the RNB to the contrary. I (we) agree to provide the RNB with a current earning statement at any time that I (we) request any future credit or any extension, renewal, modification or refinancing of credit obtained by me (us) from the RNB. The terms and conditions of the repayment plan as noted herein are understood and accepted by me (us). Date _ JOINT APPLICATION: We intend to apply for joint credit. Applicant Initials: Co-Applicant Initials:. Applicant Co-Applicant

3 EARNINGS WORKSHEET Page 3 APPLICANT: FARM PRODUCTION PERIOD ENDING: / / / / / / TOTAL CASH FARM INCOME (1) Resale Purchase (Always Subtract) (2) Breeding Livestock Purchase (Always Subtract) (3) Livestock Inventory Change Crop and Feed Inventory Change Accounts Receivable Change Net Non-Cash Farm Income VALUE OF FARM PRODUCTION (4) Farm Operating Expense Labor Repairs Interest Rent Feed Seed and Plants Fertilizer and Lime Spray and Chemicals Custom Hire Supplies Breeding - Veterinary Gas - Oil - Fuel Taxes (Expect Income Tax) Insurance - Utilities Marketing Expense TOTAL CASH FARM OPERATING EXPENSE (5) Pepaid Expense Change (Add a; Subtract a-1) Accounts Payable Change Machinery and Equipment Depreciation Building and Improvement Depreciation TOTAL FARM OPERATING EXPENSE (6) Net Farm Earnings (4-6) (7) Net Cash Personal and Non-farm Income (8) Cash Family Living (Always Subtract) (9) Income Tax (Always Subtract) (10) Net Earnings (line 7 plus ) Net Cash From Operations (line plus ) Capital Sales Other Capital Receipts Change in Checkbook Balance NET CASH AVAILABLE

4 Use of Cash Available from preceding page Page 4 Real Estate and Improvement Purchases Machinery Purchases Other Capital Outlay TOTAL CAPITAL (11) Changes in Notes Payable (12) TOTAL USE OF CASH AVAILABLE (LINE 11-12) DEBT SERVICING Creditors Secured By Total Debt Interest Principal Total Payment Prepared by: Total Date:

5 SUPPORTING SCHEDULE Page 5 FOR FINANCIAL STATEMENT OF: Machinery and Equipment Year Make, Kind, and Model (Group by like kind) TOTAL COLLATERAL ANALYSIS FEED and GRAIN INVENTORY LIVESTOCK COLLATERAL Units Description S or F Val./Unit Total Val. Recov. Val. No. Breed Kind Age Weight Value Total TOTAL $ TOTAL $

AGRICULTURAL LOAN APPLICATION

AGRICULTURAL LOAN APPLICATION AGRICULTURAL LOAN APPLICATION REQUESTED LOAN AMOUNT PURPOSE APPLICANT TYPE INDIVIDUAL JOINT CORPORATION PARTNERSHIP OTHER REQUESTED LOAN TYPE OPERATING LINE OF CREDIT TERM EQUIPMENT REAL ESTATE INDIVIDUAL

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... SPA Standardized Performance Analysis For Sheep Producers -- A Worksheet Approach -- Sheep producers have been challenged to be lower cost producers, to become

More information

COOPERATIVE ELEVATOR CO. AGRICULTURAL CREDIT APPLICATION AND AGREEMENT

COOPERATIVE ELEVATOR CO. AGRICULTURAL CREDIT APPLICATION AND AGREEMENT COOPERATIVE ELEVATOR CO. AGRICULTURAL CREDIT APPLICATION AND AGREEMENT Name (Company and principal owner when applicable) Social Security Number (Principal owner) Drivers License Number (Principal owner)

More information

Setting up your Chart of Accounts

Setting up your Chart of Accounts FARM FUNDS WORKSHEETS Setting up your Chart of Accounts Supplies Supplies are any inputs that will be used on a field, group of livestock, or equipment. Setting up a supply will set up the related expense

More information

How much financing will your farm business

How much financing will your farm business Twelve Steps to Ag Decision Maker Cash Flow Budgeting File C3-15 How much financing will your farm business require this year? When will money be needed and from where will it come? A little advance planning

More information

Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity

Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Recording Transactions in the Date Cash Journal Description Value Amount (bu., lb.,

More information

Farm Financial Management

Farm Financial Management Farm Financial Management Your Farm Income Statement How much did your farm business earn last year? There are many ways to answer this question. A farm income statement (sometimes called a profit and

More information

The financial position and performance of a farm

The financial position and performance of a farm Farm Financial Ag Decision Maker Statements File C3-56 The financial position and performance of a farm business can be summarized by four important financial statements. The relationship of these statements

More information

Farm Tax Record Book SAMPLE

Farm Tax Record Book SAMPLE Farm Tax Record Book TABLE OF CONTENTS Farm Receipts... Milk Sales and Deductions Worksheet... Government Payments Worksheet... Commodity Certificates... Sale of Livestock Worksheet... Farm Expenses...0

More information

BUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful?

BUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful? Preparing Agricultural Financial Statements Thoroughly understanding your business financial performance is critical for success in today s increasingly competitive agricultural, forestry and fisheries

More information

How much did your farm business earn last year?

How much did your farm business earn last year? Your Farm Ag Decision Maker Income Statement File C3-25 How much did your farm business earn last year? Was it profitabile? There are many ways to answer these questions. A farm income statement (sometimes

More information

Agricultural Balance Sheet (Financial Statement)

Agricultural Balance Sheet (Financial Statement) Agricultural Balance Sheet (Financial Statement) This form can be used as a guide to collect information for an annual financial statement or for an application for credit. If you are using the Adobe PDF

More information

Line 1b. In 2011, he sold steers he had bought for resale. He enters sales of $13,596. This amount is also written on the total line 1c.

Line 1b. In 2011, he sold steers he had bought for resale. He enters sales of $13,596. This amount is also written on the total line 1c. Schedule F (Form 1040), Profit or Loss From Farming Note. Schedule F has numerous changes for 2011. In addition, there are a number of lines that the IRS has decided not to use in 2011, but appear on the

More information

Assessing and Improving Farm Profitability

Assessing and Improving Farm Profitability 1 Fact Sheet 539 Assessing and Improving Farm Profitability Is my farm making money? This is a question farm managers think about often. To stay in business, the farm must generate a profit, at least in

More information

Preparing Agricultural Financial Statements

Preparing Agricultural Financial Statements Preparing Agricultural Financial Statements Thoroughly understanding your business financial performance is critical for success in today s increasingly competitive agricultural environment. Accurate records

More information

This article illustrated deferred tax liabilities for a cash crop farm in west central Indiana. The

This article illustrated deferred tax liabilities for a cash crop farm in west central Indiana. The September 2014 Computation of Deferred Liabilities Michael Langemeier, Associate Director, Center for Commercial Agriculture This article is one of a series of financial management articles that will examine

More information

Would you like to know more about the

Would you like to know more about the Your Net Worth Ag Decision Maker Statement File C3-20 Would you like to know more about the current financial situation of your farming operation? A simple listing of the property you own and the debts

More information

Appendix I Whole Farm Analysis Procedures and Measures

Appendix I Whole Farm Analysis Procedures and Measures Appendix I Whole Farm Analysis Procedures and Measures The whole-farm reports (except for the balance sheets) include the same number of farms, which were all of the farms whose records were judged to

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... Preparing and Analyzing a Cash Flow Statement Quick Notes... Cash Flow Statements summarize cash inflows and cash outflows over a period of time. Uses of a Cash

More information

Cash Flow Projection for Operating Loan Determination

Cash Flow Projection for Operating Loan Determination E-19 RM-7.0 02-09 Risk Management Cash Flow Projection for Operating Loan Determination Danny Klinefelter and Dean McCorkle* A cash flow statement can be simply described as a record of the dollars coming

More information

COM PREHENSIVE GUIDE TO FARM FINANCIAL MANAGEM ENT AGRICULTURE. Module 7: Cash Flow Statement Analysis

COM PREHENSIVE GUIDE TO FARM FINANCIAL MANAGEM ENT AGRICULTURE. Module 7: Cash Flow Statement Analysis COM PREHENSIVE GUIDE TO FARM FINANCIAL MANAGEM ENT AGRICULTURE P R O G R A M S A N D S E R V I C E S Module 7: Cash Flow Statement Analysis Course Map 7-1 Cash Flow Statement Analysis Introduction The

More information

Cash Flow Budget: What Will It Tell Me? *

Cash Flow Budget: What Will It Tell Me? * Purdue Extension Knowledge to Go Cash Flow Budget: What Will It Tell Me? * How much financing will your farm business require this year? When will money be needed, and from where will it come? A little

More information

Tax Return Questionnaire - 2013 Tax Year

Tax Return Questionnaire - 2013 Tax Year Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire

More information

3. If you received any interest from a "Seller Financed" mortgage, provide: Name and Address of Payer Social Security Number Amount

3. If you received any interest from a Seller Financed mortgage, provide: Name and Address of Payer Social Security Number Amount Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... Preparing an Income Statement Quick Notes... The income statement measures the profitability of a business over a specific period of time. Cash reporting of income

More information

STANDARDIZED PERFORMANCE ANALYSIS

STANDARDIZED PERFORMANCE ANALYSIS STANDARDIZED PERFORMANCE ANALYSIS SPA-6 COW-CALF ENTERPRISE FINANCIAL PERFORMANCE MEASURES WORKSHEET (SPA-FCC) * 6-16-06 SPA is a standardized cow-calf enterprise production and financial performance analysis

More information

Income Statement A Financial Management Tool

Income Statement A Financial Management Tool E-484 RM5-6.0 09-08 Risk Management Income Statement A Financial Management Tool Danny Klinefelter* An income statement measures the success of a business, in terms of net income or loss, for a period

More information

Balance Sheet of Wisconsin Dairy Farms by Gary Frank 1 August 11, 2001

Balance Sheet of Wisconsin Dairy Farms by Gary Frank 1 August 11, 2001 Balance Sheet of Wisconsin Dairy Farms - 2000 by Gary Frank 1 August 11, 2001 Introduction One of the most important indicators of financial progress in a farm business is the Balance Sheet, sometimes

More information

Farm Record Keeping and Financial Analysis

Farm Record Keeping and Financial Analysis Indiana Small Farms Conference 2013 Farm Record Keeping and Financial Analysis Alan Miller Farm Business Management Specialist March 1, 2013 Farm Records Opening discussion question What is the best reason

More information

Record Keeping in Farm Management

Record Keeping in Farm Management ExEx 5054 May 2004 Economics COLLEGE OF AGRICULTURE & BIOLOGICAL SCIENCES / SOUTH DAKOTA STATE UNIVERSITY / USDA Record Keeping in Farm Management Agustin Arzeno Area Management Specialist Introduction

More information

Module 5: Preparing Cash Flow Statements

Module 5: Preparing Cash Flow Statements COMPREHENSIVE GUIDE TO FARM FINANCIAL MANAGEMENT Module 5: Preparing Cash Flow Statements www.saskatchewan.ca/agriculture Course Map 5-1 Preparing Cash Flow Statements Introduction Cash Flow Statements

More information

Promoting Innovation in Maryland Agricultural and Resource-Based Business

Promoting Innovation in Maryland Agricultural and Resource-Based Business Promoting Innovation in Maryland Agricultural and Resource-Based Business Application for the Rural Business Working Capital Loan Fund Program Description The Rural Business Working Capital Loan Fund has

More information

Estimation of Deferred Taxes

Estimation of Deferred Taxes Estimation of Deferred Taxes With this program, the user can estimate current and noncurrent deferred taxes. Deferred Taxes Deferred taxes represent the federal income, state income, and Social Security

More information

Financial Considerations The balance sheet is a listing of all assets (what is owned), liabilities or debt, and net worth at a certain point in time.

Financial Considerations The balance sheet is a listing of all assets (what is owned), liabilities or debt, and net worth at a certain point in time. How do I determine ahead of time that my farm business arrangement can achieve the financial performance adequate to satisfy everyone involved? In cases where an existing business will not be substantially

More information

Swine Farm Business Analysis Workbook

Swine Farm Business Analysis Workbook Swine Farm Business Analysis Workbook Swine AoE Team Michigan State University Lead author and editor: Roger Betz Section contributing authors: Sherrill Nott Gerry Schwab Janice Knuth Mike Staton Aug.

More information

Cash to Accrual Income Approximation

Cash to Accrual Income Approximation Cash to Accrual Income Approximation With this program, the user can estimate accrual income using the Schedule F from his/her federal income tax return. Fast Tools & Resources Farmers typically report

More information

Analyzing Quicken Farm Records with FINPACK

Analyzing Quicken Farm Records with FINPACK Analyzing Quicken Farm Records with FINPACK FINPACK is a computerized farm financial planning and analysis system. It will help you evaluate your financial situation, explore alternatives, and make informed

More information

WEDCO. Amount Requested Purpose. Repayment Source

WEDCO. Amount Requested Purpose. Repayment Source WEDCO Wentworth Economic Development Corporation, Inc. 7 Center Street, PO Box 641, Wolfeboro, NH 03894 Phone: 569-4216 Fax: 569-3317 Website: www.wedco NH.org Small Business Loan Application All information

More information

Enterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University

Enterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University Enterprise Budgeting By: Rod Sharp and Dennis Kaan Colorado State University One of the most basic and important production decisions is choosing the combination of products or enterprises to produce.

More information

FINANCING THE PURCHASE AND OPERATION OF AN AVOCADO ORCHARD

FINANCING THE PURCHASE AND OPERATION OF AN AVOCADO ORCHARD California Avocado Society 1965 Yearbook 49: 93-97 FINANCING THE PURCHASE AND OPERATION OF AN AVOCADO ORCHARD C. D. Gustafson Farm Advisor, San Diego County The following information was presented by a

More information

PROGRAM SUMMARY. For additional information, contact: Patrick Evans (618) 244-2424 ext. 1501 pevans@il-fa.com LOAN NUMBER

PROGRAM SUMMARY. For additional information, contact: Patrick Evans (618) 244-2424 ext. 1501 pevans@il-fa.com LOAN NUMBER PROGRAM SUMMARY Contact: For additional information, contact: Patrick Evans (618) 244-2424 ext. 1501 pevans@il-fa.com LOAN NUMBER Lorrie Karcher (618) 244-2424 ext. 1500 lkarcher@il-fa.com An application

More information

BUSINESS FINANCIAL STATEMENT. Limited Liability Company Partnership Corporation Other. Statement of Financial Condition as of, 20 for the period, to,

BUSINESS FINANCIAL STATEMENT. Limited Liability Company Partnership Corporation Other. Statement of Financial Condition as of, 20 for the period, to, BUSINESS FINANCIAL STATEMENT Name of Business Applicant Prepared By Title (Position) Limited Liability Company Partnership Corporation Other Statement of Financial Condition as of, 20 for the period, to,

More information

AGRICULTURAL ECONOMICS. Preparing a Projected Cash Flow Statement. Introduction. What Information Is Provided? EC-616-W

AGRICULTURAL ECONOMICS. Preparing a Projected Cash Flow Statement. Introduction. What Information Is Provided? EC-616-W AGRICULTURAL ECONOMICS EC-616-W Preparing a Projected Cash Flow Statement Freddie L. Barnard, Professor Elizabeth A. Yeager, Assistant Professor Department of Agricultural Economics Purdue University Introduction

More information

The data for this report were collected by Iowa Farm Business Association consultants and compiled by Iowa State University Extension and Outreach.

The data for this report were collected by Iowa Farm Business Association consultants and compiled by Iowa State University Extension and Outreach. 2015 Cash Iowa Rental Farm Rates Costs for Iowa Ag Decision Maker Returns 2015 Survey File C1-10 The farm record data utilized in this report were obtained from the Iowa Farm Business Association. The

More information

ProPartners Financial Application Cover Page Please fax to 651-282-7861 with application

ProPartners Financial Application Cover Page Please fax to 651-282-7861 with application Loan Information: ProPartners Financial Application Cover Page Please fax to 651-282-7861 with application Applicant Name: Requested Amount Dealer Buy Down - % Dealer Add-On + % (Buy-down and add-on are

More information

Assessing and Improving Your Farm Cash Flow

Assessing and Improving Your Farm Cash Flow Fact Sheet 541 Assessing and Improving Your Farm Cash Flow What Is Liquidity? Liquidity refers to the ability of your farm to generate enough cash to meet financial obligations as they come due without

More information

OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE

OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE 02.03.16 JEFF RODIBAUGH FIRST FARMERS BANK & TRUST POLL: 2016 CORN BELT SEED CONFERENCE 1. You believe there

More information

BUSINESS LOAN APPLICATION

BUSINESS LOAN APPLICATION BUSINESS LOAN APPLICATION PROCEDURES Thanks you for your interest in Middleton Area Development Corporation s Loan Program. Our loan process is as follows: 1. Submit a complete application to Middleton

More information

Suggestions for Setting up Expense and Revenue Accounts in Quick Books Pro for Cow- Calf and Retained Ownership Ranches

Suggestions for Setting up Expense and Revenue Accounts in Quick Books Pro for Cow- Calf and Retained Ownership Ranches Suggestions for Setting up Expense and Revenue Accounts in Quick Books Pro for Cow- Calf and Retained Ownership Ranches The business accounting system first must provide the data for compliance reporting

More information

Suggestions for Setting up Expense and Revenue Accounts in Quick Books Pro for Cow- Calf and Retained Ownership Ranches

Suggestions for Setting up Expense and Revenue Accounts in Quick Books Pro for Cow- Calf and Retained Ownership Ranches Suggestions for Setting up Expense and Revenue Accounts in Quick Books Pro for Cow- Calf and Retained Ownership Ranches The business accounting system first must provide the data for compliance reporting

More information

Business Planning for Livestock Producers. James McWhorter UF/IFAS Highlands County Livestock Agent

Business Planning for Livestock Producers. James McWhorter UF/IFAS Highlands County Livestock Agent Business Planning for Livestock Producers James McWhorter UF/IFAS Highlands County Livestock Agent Introduction Why create a business plan Components of a business plan Financial statements Five C s of

More information

Form M-433-OIS Statement of Financial Condition and Other Information

Form M-433-OIS Statement of Financial Condition and Other Information Form M-433-OIS Statement of Financial Condition and Other Information Rev. 6/09 Massachusetts Department of Revenue Complete all entries with the most current information available. For entries that do

More information

Fruit Farm Business Analysis Workbook

Fruit Farm Business Analysis Workbook Fruit Farm Business Analysis Workbook Fruit AoE Team Michigan State University Lead author and editor: Roger Betz Section contributing authors: Sherrill Nott Gerry Schwab Janice Knuth Mike Staton Mark

More information

Preparing A Cash Flow Statement

Preparing A Cash Flow Statement Preparing A Cash Flow Statement By: Norm Dalsted and Rod Sharp Colorado State University It is highly unlikely you would attempt to drive to Detroit, Michigan, without first consulting a road map. You

More information

CH 23 STATEMENT OF CASH FLOWS SELF-STUDY QUESTIONS

CH 23 STATEMENT OF CASH FLOWS SELF-STUDY QUESTIONS C H 2 3, P a g e 1 CH 23 STATEMENT OF CASH FLOWS SELF-STUDY QUESTIONS (note from Dr. N: I have deleted questions for you to omit, but did not renumber the remaining questions) 1. The primary purpose of

More information

This loan application booklet is provided to help you in the process of applying for a Rural Assistance Loan.

This loan application booklet is provided to help you in the process of applying for a Rural Assistance Loan. Dear Loan Applicant: This loan application booklet is provided to help you in the process of applying for a Rural Assistance Loan. A brochure about the loan program is also available from the Montana Department

More information

Balance Sheet or Net Worth Statement

Balance Sheet or Net Worth Statement Balance Sheet or Net Worth Statement Assets = Liabilities + Owner Equity Owner Equity = Assets - Liabilities Balance Sheet Assets Liabilities Owner Equity Assets Everything owned that has value including

More information

Making more money is the goal of many Tennessee farmers. The first step towards this goal

Making more money is the goal of many Tennessee farmers. The first step towards this goal THE UNIVERSITY OF TENNESSEE AGRICULTURAL EXTENSION SERVICE PB 1583 The Development and Use of Financial Statements: The Balance Sheet Robert W. Holland, Jr., Assistant Area Specialist-Farm Management Delton

More information

The key tools of farm business analyses

The key tools of farm business analyses 10 The key tools of farm business analyses This chapter explains the benefits of accurately documenting farm assets and liabilities, as well as farm costs and income, to monitor the business performance

More information

Computerized Farm Records

Computerized Farm Records Computerized Farm Records Peg Brune ~ Dodge, NE 402-693-2801 Email: brune@skyww.net Agricultural Bookkeeping: Quickbooks or Quicken???? Accounting: Accountants prefer Quickbooks, mostly because a lot of

More information

Farm & Family Connections: Taking Control of Farm-Family Living Expenses. Farm-Family Financial Challenges

Farm & Family Connections: Taking Control of Farm-Family Living Expenses. Farm-Family Financial Challenges Farm Business Management for the 21st Century ID-238 Farm & Family Connections: Taking Control of Farm-Family Living Expenses Department of Consumer Sciences and Retailing Calculating how much is spent

More information

MANAGING YOUR FARM S FINANCIAL RISK

MANAGING YOUR FARM S FINANCIAL RISK chapter seven MANAGING YOUR FARM S FINANCIAL RISK Gayle Willett 2 3 4 4 10 11 13 15 18 20 21 Table of Contents Instructor Guidelines Introduction Financial Risk: Definition and Sources Managing Financial

More information

Commercial Loan Application-Personal Financial Statements Fields with Asterisk (*) must be completed

Commercial Loan Application-Personal Financial Statements Fields with Asterisk (*) must be completed Commercial Loan Application-Personal Financial Statements Fields with Asterisk (*) must be completed Applicant s Information Last Name: Social Security #: Home Address: Employment Information Employer

More information

Corporation, a copy of the file stamped Articles or Certificate of Incorporation

Corporation, a copy of the file stamped Articles or Certificate of Incorporation Thank you for choosing Frost for your business credit needs. We are committed to helping you determine the best financing option for your business. To assist us, we ask that you complete and submit the

More information

FARM LEGAL SERIES June 2015 Security Interests in Personal Property

FARM LEGAL SERIES June 2015 Security Interests in Personal Property Agricultural Business Management FARM LEGAL SERIES June 2015 Security Interests in Personal Property Phillip L. Kunkel, Jeffrey A. Peterson, Jason Thibodeaux Attorneys, Gray Plant Mooty INTRODUCTION The

More information

Balance Sheet A Financial Management Tool

Balance Sheet A Financial Management Tool Balance Sheet A Financial Management Tool Overview A balance sheet is a statement of the financial condition of a business at a specific time. The balance sheet shows what is owned by a business, what

More information

SELF-EMPLOYED HOUSEHOLDS Section 104 Page 1

SELF-EMPLOYED HOUSEHOLDS Section 104 Page 1 SELF-EMPLOYED HOUSEHOLDS Section 104 Page 1 104.1 Purpose This section describes the special policies that apply to households that have self-employment income. 104.2 General Information All the policies

More information

Developing a Balance Sheet 1

Developing a Balance Sheet 1 Oklahoma Cooperative Extension Service AGEC-752 Developing a Balance Sheet 1 Damona Doye Extension Economist and Regents Professor Randy True Former Extension Assistant A good information system contributes

More information

Business Planning Worksheets

Business Planning Worksheets Business Planning Worksheets Copyright 2003-2010 Lamar University SBDC Table of Contents Introductory Section... 1 Cover Sheet... 1 Executive Summary... 1 Narrative Section... 2 Description of the Business...

More information

The BASICS of FINANCIAL STATEMENTS For Agricultural Producers

The BASICS of FINANCIAL STATEMENTS For Agricultural Producers The BASICS of FINANCIAL STATEMENTS For Agricultural Producers Authors: James McGrann Francisco Abelló Doug Richardson Christy Waggoner Department of Agricultural Economics Texas Cooperative Extension Texas

More information

Contents. Acknowledgements... iv. Source of Data...v

Contents. Acknowledgements... iv. Source of Data...v Kentucky Farm Business Management Program Annual Summary Data: Kentucky Grain Farms - 2011 Agricultural Economics Extension No. 2012-17 June 2012 By: Amanda R. Jenkins Michael C. Forsythe University of

More information

CROP BUDGETS, ILLINOIS, 2015

CROP BUDGETS, ILLINOIS, 2015 CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2015 Department of Agricultural and Consumer Economics University of Illinois September 2015

More information

Farm and Ranch Financial Management: Cash vs. Accrual Accounting

Farm and Ranch Financial Management: Cash vs. Accrual Accounting B-5077 Farm and Ranch Financial Management: Cash vs. Accrual Accounting Danny A. Klinefelter Professor and Extension Economist-Management The Texas A&M University System This publication is based on the

More information

TRADING TRUST BUSINESS INFORMATION

TRADING TRUST BUSINESS INFORMATION TRADING TRUST BUSINESS INFORMATION PLEASE NOTE: The Penalties Regime came into effect on 1 April 1997. It is the taxpayer s responsibility to ensure that all information is true and correct! Has the Trust

More information

1420 n. CLAREMONT BLVD., SUITE 101-B TEL (909) 398-4737 CLAREMONT, CALIFORNIA 91711 FAX (909) 398-4733

1420 n. CLAREMONT BLVD., SUITE 101-B TEL (909) 398-4737 CLAREMONT, CALIFORNIA 91711 FAX (909) 398-4733 1420 n. CLAREMONT BLVD., SUITE 101-B TEL (909) 398-4737 CLAREMONT, CALIFORNIA 91711 FAX (909) 398-4733 www.nicholscpas.com Email: info@nicholscpas.com January 12, 2015 RE: 2014 Tax Returns It is hard to

More information

The Income Statement and Statement of Owner Equity

The Income Statement and Statement of Owner Equity The Income Statement and Statement of Owner Equity Module Outline Objectives Introduction to the Income Statement The Income Statement Entity and Timing Cash and Accrual-adjusted Income Statements Cash

More information

BUSINESS EXPRESS LENDING LOAN REQUEST. Thank you for your interest in Fox Chase Bank. In this document you will find:

BUSINESS EXPRESS LENDING LOAN REQUEST. Thank you for your interest in Fox Chase Bank. In this document you will find: BUSINESS EXPRESS LENDING LOAN REQUEST Thank you for your interest in Fox Chase Bank. In this document you will find: Commercial Loan Application Personal Financial Statement Form Please complete these

More information

Income Taxes. Description. Main Federal Tax Forms

Income Taxes. Description. Main Federal Tax Forms Income Taxes Description Income in the U.S. is taxed by the Federal government to provide revenue to run the government and provide services to the citizens. Each year businesses and individuals must file

More information

Personal Financial Statement

Personal Financial Statement Personal Financial Statement CONTACT YOUR BANK REPRESENTATIVE IF YOU HAVE ANY QUESTIONS REGARDING THE COMPLETION OF THIS FORM. You may apply for a credit extension or financial accommodation individually

More information

BUSINESS LOAN APPLICATION

BUSINESS LOAN APPLICATION BUSINESS LOAN APPLICATION One Commerce Park P. O. Box 160 Shallowater,Texas 79363 Phone - 806.832.4525 Fax - 806.832.5849 EMAIL ADDRESS - MARK@FSBSHALLOWATER.COM Page 9 of 23 Commercial Loan Application:

More information

Financial Management For Small Farms. 2009, University of Minnesota

Financial Management For Small Farms. 2009, University of Minnesota Financial Management For Small Farms Dale Nordquist Department of Applied Economics 800-234-1111 www.cffm.umn.edu Financial Management For Small Farms Today s agenda Financial management concepts (FINPACK)

More information

Analyzing a Farm Business Prepared by: MAFRD Farm Management Specialists

Analyzing a Farm Business Prepared by: MAFRD Farm Management Specialists Prepared by: MAFRD Farm Management Specialists A guide to help producers prepare, analyze and interpret farm business plans in order to make informed management decisions. Many farm producers prepare a

More information

Lesson 2. Cash Flow Budgets

Lesson 2. Cash Flow Budgets A Project Funded by USDA BFRDP Grant #10506276 Development Partners Include: Lesson 2. Cash Flow Budgets Introduction Cash flow budgets provide detail about periods when cash outflows exceed cash inflows.

More information

Gary A. Hachfeld, David B. Bau, & C. Robert Holcomb, Extension Educators

Gary A. Hachfeld, David B. Bau, & C. Robert Holcomb, Extension Educators Balance Sheet Agricultural Business Management Gary A. Hachfeld, David B. Bau, & C. Robert Holcomb, Extension Educators Financial Management Series #1 7/2013 A complete set of financial statements for

More information

Financial Information Statement for Businesses

Financial Information Statement for Businesses Financial Information Statement for Businesses How to Complete This Statement Enter the most current data available in all spaces. Write N/A in spaces that don t apply to you. The Taxation and Revenue

More information

Credit Analysis Solutions AGRICULTURE

Credit Analysis Solutions AGRICULTURE Credit Analysis Solutions AGRICULTURE FINPACK University of Minnesota 130 Ruttan Hall 1994 Buford Avenue St. Paul, Minnesota 55108 Phone: (612) 625-1964 Toll-Free: (800) 234-1111 Fax: (612) 625-3105 Email:

More information

Using the Partial Budget To Analyze Farm Change

Using the Partial Budget To Analyze Farm Change 1 Fact Sheet 547 Using the Partial Budget To Analyze Farm Change Many changes proposed by a manager on a farm affect only part of the business. Therefore, a complete farm budget is not needed to determine

More information

COMMERCIAL/BUSINESS LOAN APPLICATION PACKAGE

COMMERCIAL/BUSINESS LOAN APPLICATION PACKAGE COMMERCIAL/BUSINESS LOAN APPLICATION PACKAGE CONTENTS: Member Business Loan Application Authorization to Obtain Credit Information Financial Statement Schedule of Business Debt REAL ESTATE & COMMERCIAL

More information

Collection Information Statement for Wage Earners and Self-Employed Individuals

Collection Information Statement for Wage Earners and Self-Employed Individuals Georgia Department of Revenue Collection Information Statement for Wage Earners and SelfEmployed Individuals Form CD14C (June 2012) Use this form if you are An individual who owes income tax on a Form

More information

Calculating Your Milk Production Costs and Using the Results to Manage Your Expenses

Calculating Your Milk Production Costs and Using the Results to Manage Your Expenses Calculating Your Milk Production Costs and Using the Results to Manage Your Expenses by Gary G. Frank 1 Introduction Dairy farms producing milk have numerous sources of income: milk, cull cows, calves,

More information

SBA Loan Checklist. Ownership Information. Site Information (For Real Estate Transactions Only) Business Information

SBA Loan Checklist. Ownership Information. Site Information (For Real Estate Transactions Only) Business Information SBA Loan Checklist Ownership Information Completed Credit Application Completed Personal Financial Statement (for each owner) Summary of Project Cost (form attached) 3 Years Personal Federal Tax Returns

More information

EC879 Can You Pay for the Farm You Buy?

EC879 Can You Pay for the Farm You Buy? University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Historical Materials from University of Nebraska- Lincoln Extension Extension 1-1-1947 EC879 Can You Pay for the Farm You

More information

Establishing and Using a Farm Financial Record-Keeping System

Establishing and Using a Farm Financial Record-Keeping System PB 1540 Establishing and Using a Farm Financial Record-Keeping System Delton C. Gerloff, Associate Professor, Agricultural Economics Robert W. Holland Jr., Assistant Area Specialist - Farm Management For

More information

The Farm Record Book. Table of Contents

The Farm Record Book. Table of Contents The Farm Record Book This Farm Record Book is designed to provide a farmer with an organized system for recording expenses, income, land use and treatment, social security and income tax information. Inventory

More information

Are you eligible for an ACCION Chicago small business loan?

Are you eligible for an ACCION Chicago small business loan? Lending. Supporting. Inspiring. Are you eligible for an ACCION Chicago small business loan? Y/ N Are you looking for a loan between 200 and 15,000 for your start-up business (less than 6 months of revenue

More information

Crop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction

Crop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction Crop-Share and Cash Rent Lease Comparisons Version 1.6 Alan Miller and Craig L. Dobbins Spreadsheet can be found at http://www.agecon.purdue.edu/extension/pubs/farmland_values.asp Introduction This spreadsheet

More information

MICROLOAN APPLICATION CHECKLIST (Loans $50,000)

MICROLOAN APPLICATION CHECKLIST (Loans $50,000) checklist. INSTRUCTIONS Please complete this application and provide the information requested on the application checklist. Confirmation of receipt of a request will be made within approximately 5 business

More information

FULLER LANDAU LLP. Tax Return Questionnaire - 2014 Tax Year. Name and Address: Social Security Occupation Number:

FULLER LANDAU LLP. Tax Return Questionnaire - 2014 Tax Year. Name and Address: Social Security Occupation Number: FULLER LANDAU LLP Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return

More information

Financial Management: Cash vs. Accrual Accounting

Financial Management: Cash vs. Accrual Accounting E-475 RM5-16.0 10-08 Risk Management Financial Management: Cash vs. Accounting Danny Klinefelter, Dean McCorkle and Steven Klose* Selecting a record-keeping system is an important decision for agricultural

More information

PERSONAL FINANCIAL STATEMENT

PERSONAL FINANCIAL STATEMENT PERSONAL FINANCIAL STATEMENT As of, 20 BUSINESS PLAN GUIDELINES Name: Residence Phone: Residence Address: City, State, Zip Code: Social Security Number: PERSONAL ASSETS PERSONAL LIABILITIES Cash in Bank

More information