Tracking, evaluating, and planning for your farm's business performance is an integral part of creating a farm succession plan.

Important Business Terms Defined--Finance (Kansas State University Extension)

Budgeting

Budgets:  Their Use in Farm Management (Oklahoma Cooperative Extension Service)

"Twelve Steps to Cash Flow Budgeting" (Iowa State University Extension, November 2004)

Developing a Cash Flow Plan (Oklahoma Cooperative Extension Service)

Partial Budgeting for Agricultural Businesses (Penn State University Extension)

Farm and Ranch Stress Test (Oklahoma Cooperative Extension Service)

Financial Recordkeeping Resources

"Farm Financial Statements" (Iowa State University Extension, 2000) (PDF link)

"Your Farm Income Statement" (Iowa State University Extension, November 2004) This resource includes a number of worksheets on assessing your farm business performance.

Quicken for Farm Financial Records  This website was developed by Oklahoma State University Extension Service.  It presents information that can help farmers decide whether quicken is an appropriate software tool for use in their farm business.  The website also contains downloadable instruction manuals.

Consolidated Financial Statements (Oklahoma Cooperative Extension Service)

Farm and Ranch Financial Trends Worksheet (Oklahoma Cooperative Extension Service)

Balance Sheet--A Financial Management Tool (Kansas State University Extension)

Income Statement--A Financial Management Tool (Kansas State University Extension)