Business Management
Dairy Business Management in and after Floods
Business management should be a priority if:
- You do not know what the position of your balance sheet is today
- You don't know the cash position of your business over the remainder of the current financial year
- Your consider that the balance sheet position or the cash position of your business do not allow you to move forward into the future
Cash Flow Budget
The cash flow budget shows money flowing in and out of your business. Cash flow budgets are usually presented by the month (or year) for each income and expense category. This statement is particularly valuable for analysing the managment of cash in the business.
Creating a Cash Flow Budget
Balance Sheet
Your balance sheet represents the financial foundations on which you are building your business. It is simply a list of assets owned and debts owed at a given time, with dollar values attached.
A balance sheet is
- the basis building blocks for financial analysis
- a picture in time, such as at 28 February 2011
- an indicator of your business's ability to handle risk
- the net result of past decisions
- an important way to track and monitor financial progress
Creating a Balance Sheet
Calculating Information from a Balance Sheet
Taking Stock Tool
The latest Taking Stock tool has been developed to help you assess the current financial and physical health of your dairy farm business.
It will help you:
- manage your budget
- calculate your pasture consumption
- manage your balance sheet
- manage your people costs
- better understand your business performance and,
- create an action plan.
A Dairy Australia initiative, the Taking Stock tool was originally developed in 2004 for use by the whole industry and has evolved from a spreadsheet tool to a comprehensive process that helps farm families review all aspects of their farm businesses and develop an action plan.
Download the Taking Stock tool. Please note: you may be required to 'unpack' the Taking Stock file as it is compressed.
User requirements
System requirements: Windows XP or Vista.
You may be required to download the latest version of Adobe Flash (Version 9).