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.

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Charting costs on a laptop computer

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.

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Calculator and rolls of financial data
Calculator and rolls of financial data

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.

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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.

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