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| Home / Programs / KSU Farm Analyst Program | |
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KSU Farm Analyst Program
| Farm Analysts |
Program Description |
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Duane Hund 32409B E. Springcreek Rd. Paxico, KS 66526 Phone: (785) 636-5462 E-mail: dhund@ksu.edu |
The K-State Research and
Extension· Farm Analyst Program: |
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Coy Allen |
FinPack™ is a comprehensive financial planning and analysis system designed to help farmers and ranchers understand their financial situation and make informed decisions. It is not a record keeping system. Instead, FinPack™ provides tools to effectively use farm records to make business analysis, long-range planning, and cash-flow planning as complete, easy, and meaningful as possible. FinPack™ is an effective educational tool. It teaches financial concepts through their application on individual farms. |
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Fred Armstrong |
When Things Change Financially If a debtor/creditor dispute arises, the typical farm manager's goal is to restructure and keep operating. It is not in the farmer's or the creditor's interest to resume operation without a clear analysis of: •What went wrong? •What will change? • Restructuring alternatives. • Reviewing annual results. A typical analysis involves formulation of a base plan, which outlines how the business is currently structured. When a consensus is developed with an accurate baseplan, alternative plans are formulated. These can range from restructuring debts to looking at alternative enterprises. |
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Other Links: Kansas Agricultural Mediation Services (KAMS)
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Major Benefits The major benefit provided by the farm analyst is in determining a producer's competitiveness, profitability, and efficiency. By using FinPack™ and researching a producer's abilities to use their resources effectively, opportunities arising from changing farm conditions can be advanced. In times of weather disasters or other circumstances, analysts provide objective and thoughtful ideas without the emotion of events entering into the process. Issues involving the process of transferring farms to the next generation and assisting with ideas for intergenerational business planning are additional benefits. |
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Researching New Opportunities Successful farming families spend time "working the books" to learn more about their operations. The technical side of farming gets the crop planted and harvested. The business side buys the farm and saves for retirement. New ideas can be explored and thoroughly researched by K-State farm analysts. |
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Farm Family Teamwork Kansas farm families are second to none. Hard work and tenacity go back for generations. As agriculture becomes increasingly competitive, families need time and a forum for communication and planning. K-State farm analysts strengthen family teams by facilitating discussions and goal setting. New technologies and management practices can be explored and consensus can be developed. Interdependence is fostered among families. |
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Access, Confidentiality,
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