A.M.E.S. Agricultural Management e-school An ISU Extension Outreach Institute Annie’s Project -- AMES Annie’s Project Students receive access to one AMES

A.M.E.S.

Agricultural Management e-schoolAn ISU Extension Outreach Institute

Annie’s Project -- AMESAnnie’s Project -- AMES

Annie’s Project Students receive access to one AMES course in addition to the Annie’s Forum

Tim Eggers Julie O’Hara Ann Holste William Edwards

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<strong>Developing Your Own Cash Flow Budget</strong><br><p>Now it is your turn to develop a farm cash flow budget. If you are a farm operator, you will benefit most from developing a budget for your own farming enterprise. Most cash flow budgets are developed at the beginning of the year, but a new budget can be developed at any point in time.

<p>If you already have a recent budget for your farm, review it carefully to see if it is consistent with the suggestions in this module. If not, how does it differ? Are the differences plausible? There may be more than one acceptable format to show cash inflows and outflows. Your lender may have a preference about how some things are shown. Perhaps the most important rule is to be consistent in how you prepare your budgets from year to year, so that comparisons over time are meaningful.

<p>If you do not have access to information about an actual farming operation, you can practice your skills using an example operation called the Mayer Farm. <a href="DLMExer.pdf">Doug and Louise Mayer Exercise</a> You can use the <a href="MayerExample.xls">cash flow budget spreadsheet</a> from ISU Extension, or any other budgeting forms or programs to complete this exercise.

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A.M.E.S.


Task Priority Deadline

Review the 5 existing AMES courses and make or suggest corrections and revisions

High Dec. 1

Rewrite end-of-module questions for Swine Marketing course into multiple choice format. Develop learning exercises.

High Nov. 15

Develop evaluation instruments: short form to be sent to all course participants; long form to be sent to a few beta testers for new courses.

Medium Feb. 1

Convert files for Dairy Marketing course (Wisconsin Extension is revising) to format for WebCT. Add voice to Powerpoint files.

Medium Jan. 1

Write descriptions of new courses for AMES home page. Medium Jan. 1

Develop glossaries of key terms for all courses that don’t have one. Medium March 1

Create a “preview” module for each course that will be available to prospective enrollees at no cost.

High Jan. 1

Create a short tutorial for WebCT, geared to AMES users. Medium Feb. 1

Assist authors to adapt new materials to existing courses Low Variable

Assist with marketing and promotional efforts. Medium Variable

Monitor correspondence from course enrollees Medium Variable

A.M.E.S.


Evaluation

87% completed a written marketing plan

96% said they would recommend the course to a peer

80% said the fee was just right

42% said the ability to go through the course at their own pace was the thing they liked most about the course

Winter 2002 AGM CourseEvaluation (March 2003)

A.M.E.S.


Courses

• Advanced Grain Marketing• Financial Decision Making• Farmland Ownership• Farm Leasing Arrangements• Machinery Management• Quality Management Systems• Lean Hog Marketing

– Under Development• Strategic Management• Human Resource Management • Identity Preservation

A.M.E.S.


Marketing Plan

Marketing Plan Framework Weather and Agronomic

Consideration When Should I Market My Grain? Financial Risk Cash Marketing Tools Crop Insurance Alternatives Hedging with Futures Risk Analysis Tools Options Market Tools Use of Outlook Information

Advanced Grain Marketing

A.M.E.S.


Financial Plan• Introduction to Financial Decision Making• Developing Financial Statements • Analyzing Financial Statements • Relating Financial Analysis to Production

Records • Financial Trouble Shooting • Three Case Studies • 12 Steps to Cash Flow Budgeting • Cash Management • Financing Capital Assets • Presentation of a Financial Plan

Financial Decision Making

Fulfills FSA mandatory borrower education requirements

A.M.E.S.


Land Leasing Confidence

• Introduction to Farm Leases• Cash Rent Leases • Crop Share Leases• Custom Farming• Renting Buildings • Renting Hay and Pasture Land • Legal and Tax Considerations • Conservation and Environmental Considerations• USDA Agencies and Programs• Owner and Operator Relations

Farm Lease Arrangements

A.M.E.S.


Cost Control Strategies

• Estimating Farm Machinery Costs • Leasing Farm Equipment • Custom Hiring • Selection and Sizing of Farm Machinery • Replacement Decisions for Machinery • Fuel Use and Costs • Transportation Costs • Joint Ownership and Machinery

Cooperatives • Transferring Ownership of Farm Machinery

Machinery Management

A.M.E.S.


Purchase Plan

• Land Value Trends • Using Soils Information • Appraisal Techniques • Financing Considerations • Feasibility of a Land Purchase

Farmland Ownership

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Documents

A.M.E.S. Agricultural Management e-school An ISU Extension Outreach Institute Annie’s Project -- AMES Annie’s Project Students receive access to one AMES