The Lost Art of the Check Register
July 18, 2022
Nebraska Extension Educator Jessica Groskopf shares her recommendations on how to monitor your operational finances using this tried-and-true method.
Benchmarking — What Can We Learn from Others?
October 14, 2021
Organizing our farm and ranch production and financial data and then utilizing this information to look back historically and to benchmark with others, provides a way to measure our operation’s financial health and assist in important management decisions.
Keeping Accurate Digital Records
September 2, 2021
Accounting software can greatly improve the financial record-keeping of farms and ranches, but it is not a foolproof method of record-keeping. Here are some tips for keeping more accurate digital records, regardless of the software you use.
Estimating Cost of Production in Quicken
August 27, 2020
The challenge with developing a true cost of production is that expenses for farms and ranches often span multiple years. To surmount this boundary in Quicken, using a multiple tag system is recommended.
Cornhusker Economics: Accrual Accounting and the Farm Business
December 11, 2019
This article explains conceptual frameworks and two accrual accounting principles: namely, the revenue recognition principle and the matching principle.
Accounting Assumptions and the Farm Business
October 16, 2019
While not widely used in Nebraska, adoption of GAAP (Generally Accepted Accounting Principles) will allow farmers and ranchers in Nebraska to make more informed decisions, contributing to greater short- and long-run profit.
Cash Flow Budgeting for Farms and Ranches
January 8, 2018
An article from the Proceedings of the 2018 Nebraska Extension Crop Production Clinics, it explores how cash flow statements and budgets are a crucial part of the farm and ranch business financial management, allowing farm and ranch managers to track the actual inflows and outflows of cash.
Accounting for Agriculture: Using Constructive Receipts
February 27, 2018
Constructive receipts, as provided by US Internal Revenue Service code, provide a means for time-sensitive accounting to address transactions crossing over two record-keeping periods. Here's how to correctly use this accounting option.