Financial Statements

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from the Farm Management Wiki

Financial statements are documents which summarize information about the financial transactions of a business over time.

Four financial statements are prepared for agricultural businesses.
Income Statement: documents the financial costs and returns of the business
Balance Sheet: documents all assets (things of value) and the ownership of those assets
Statement of Cash Flows: documents the flow of cash into and out of the business
Statement of Owner Equity: documents the increases and decreases in owner equity

Financial Statement Spreadsheet
The FinancialStatement spreadsheet contains the following financial statements and schedules.
1 Beginning fiscal year balance sheet with schedules and deferred tax calculations.
2 Ending fiscal year balance sheet with shcedules and deferred tax calculations.
3 Monthly Cash Flow Statement with schedules.
4 Income statement (both cash and accrual adjusted)
5 Statement of Cash Flows
6 Statement of Owner Equity
7 Valuation Equity Statement
8 Financial ratios and measures calculated according to the Farm Financial Standards Guidelines (FFSG)
9 Print Macros to print all, or a portion of this spreadsheet.

The user may select any of these financial statements by clicking on the page tabs at the bottom of the screen.
To scroll page tabs, use the left and right set of arrows in the lower left corner of the screen.

These financial statements are linked together "as necessary," similar to the approach used in developing RD Financial, to give a complete financial picture of an individual operation. For example, much of the information on the Income Statement page is brought forward from the CashFlow page and the Beginning and Ending Balance Sheet pages. However, some additional data entry is required on the Income Statment page. Data entry cells are shown in blue text, unless it is left blank. Cells that are calculated are shown in black text and/or shaded in yellow. Please make sure that you carefully check each tab and complete all necessary data entry or erase old data that is not relevant.

Click here to download and begin using the FinancialStatement spreadsheet (NOTE: this file requires Microsoft Excel for functionality.)