Understanding how your farm business finances are performing is integral to being able to make smart decisions relating to the activities that you carry out in your farming operation. While the profit and loss statements and balance sheets included in your tax return provide important figures for the operation of your farm business, the financial data that they provide can be broken down even further to provide more meaningful information which can be used to assess the performance of your farm business finances over time.

The financial management module is a basic tool which helps you, as the farm operator or business manager, to do this and aims to help you to make more informed decisions relating to the management of the entire farming operation.

Objectives of Completing the Financial Management Module

Upon completion of the Financial Management Module the business manager/farm operator should have:

A) Developed an improved understanding of the performance of the farm business finances recognising the need to access cash and funding for your ongoing farm needs;

B) Enhanced their ability to review and interpret financial data and information and make projections which are relevant to the farming operation;

C) Implemented a process for documenting and updating financial information relating to the farm business; and

D) Improved their ability to link other elements of the farms management with its financial management.

By achieving each of these objectives the business manager/farm operator should be able to make more informed business decisions and have an improved ability to monitor the financial performance of the farm business. This is important in ensuring that the farm business is managed viably and that meaningful decisions can be made about the activities which are undertaken in the farming operation.

Understanding the unique goals and finances for your farm business will allow you to develop a risk management plan that will better allow you to adapt to events as they occur. Other modules included in the Property Management Systems framework can offer practical and realistic information and tools to develop your action plans.

Appendix_1_FarmPack_Assessment_Tool_-_Final_June_2011.xls

1. Financial Management Module Overview

2. Farm Pack Assessment Toolkit

3. Cash Flow Projection

4. Financial Risk Assessment

5. Gross Margin Toolkits

This Skills Plan sets the workforce development and planning priorities for and commitments from the agriculture industry for the next three years.

It was developed by the TFGA through consultation across industry during May and June 2011 to determine the industry’s priorities for actions to address labour supply and skills shortages. The Plan was funded by Skills Tasmania and coordinated and facilitated by RDS Partners.

The agriculture industry is diverse and characterised by multiple layers of governance and representation that cut across the various interests, including by sector and region. The TFGA has lead the development of this Skills Plan as a strategically‐focused framework within which various industry associations and bodies can collaborate and work with their members to lead action on the two key issues of labour and skills shortages.

The scope of this Skills Plan covers the breadth and diversity of occupations and careers associated with the industry, including:
• production (e.g. on‐farm)
• processing (e.g. beyond farm gate)
• natural resource management (e.g. catchments and regions)
• marketing
• research, development and extension
• governance and policy

While the scope of the Plan focuses on actions that the industry can take most directly, the need to work
with stakeholders beyond the farm gate (e.g. processors) is recognised.

The Plan also recognises the significant role that school‐level curriculums and programs play in influencing both student perceptions of agriculture and choice of future careers.

The Skills Plan covers major industry sectors, including those identified as priority sectors in the recently
released Tasmanian Economic Development Plan:
• vegetables
• cereals and seeds
• fruit
• wine
• meat
• wool
• poppies

The exception is the dairy industry, as a Dairy Industry Skills Plan1 has recently been developed specifically for this industry.

Agriculture Industry Skills Plan October 2011 - June 2014

A Practical Guide for Farmers

Part One - Introduction

Part Two - Legal System

Farm Water Audit August 2011

Booklet 1 - Introduction and Information Guide

Booklet 2 - An Explanation of Property Management Planning

Booklet 3 - Standards Guide

Booklet 4 - Property Management Planning Module Guidelines

Biodiversity Module V1

Risk Assessment Instructions

Soil Module Guidelines

Soil Module Risk Assessment

Water Module Guidelines

Water Module Risk Assessment

Drought - facing the challenge and managing the risk