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Financial Management for Farmers and Rural Managers

By: Martyn Warren

292 pages, Figs, tabs

Wiley-Blackwell

Paperback | Dec 1997 | Edition: 4 | #86972 | ISBN: 0632048719
Availability: Usually dispatched within 5 days Details
NHBS Price: £59.99 $76/€72 approx

About this book

Provides practical guidance on all aspects of financial management in the smaller business.


Contents

Part 1 Basic Issues: Why bother?; In the beginning...; Building a framework; Cash Flow, Profit and Capital: Cash flow; Net Profit; Profit statements; Capital; Capital Statements; Depreciation; Interpretation of Financial Accounts: Adjusting for realism; Interpreting the profit and loss account; Interpreting the balance sheet; Management Accounts: Management versus financial accounts; Gross margin accounts; Full cost accounts; Allowing for cost behaviour; Pricing; Variations from the Norm: Farm management accounting; Partnerships and companies; Voluntary/non-profit organizations; Part 2: Basic Budgeting: A profit budget: Introduction; Compiling a profit budget; Home Farm profit budget; A Cash Flow Budget for the Whole Farm: Basic principles; Value Added Tax and overdraft interest; Cash flow budgets in practice; Reconciling cash flow and profit; A Budgeted Balance Sheet: Compiling the budget; A budgeted balance sheet for Home Farm; Budgeting for Incremental Change: Relevant costs and benefits; Partial budgets; Part 3 Financial History: Recording Cash Flow: Designing a cash recording system; The cash analysis system; Petty cash; Statutory records; Recording Profit and Capital: Preparing a profit and loss account; Valuing stocks; Recording capital; The 'Back-up' Records: Introduction; Transaction records; Physical records; Stock control; Background records; Organizing paperwork; Post-script; Part 4: Controlling the Business: Monitoring Cash Flow: Why monitor cash flow?; Comparison of actual and budgeted results; Interpreting the results; Annual cash flow monitoring; Monitoring Profit and Capital: The importance of monitoring profit; Comparison with previous years; Inter-farm comparisons (1): conventional profit and loss account; inter-farm comparisons (2): profit and loss accounts in enterprise account form; Budgetary comparisons; Variance analysis; profit monitoring for Home Farm; Monitoring capital; Part 5: More on Planning and Control: The Planning Process - A Wider View: Tactics and strategy; The mission; Setting aims and objectives; Assessing 'internal' characteristics and external environment; Generating alternative plans; Selecting the optimal plan; Implementing and monitoring the selected plan; Involving other members of the organization; Planning for Livestock Enterprises: Introduction; Feeding livestock; Allocation of forage costs; Estimating potential production; Replacement of breeding livestock; Livestock with long production cycles; Labour and Machinery Planning in Farming: Introduction; Estimating level of use; Estimating labour and machinery costs; Investigating alternatives; Capital Planning: Introdiction; Sources of capital; Estimating the cost of capital; Comparing alternative uses of capital (1): simple measures; Comparing alternative uses of capital (2): discounted cash flow techniques; Allowing for Risk and Uncertainty: Introduction; Allowing for risk and uncertainty in planning; Risk and investment appraisal; Allowing for Inflation: Introduction; Inflation and financial accounts; Inflation and management accounts; Inflation and planning; Inflation and investment appraisal; Appendix A. Personal Computers in Management: A.1 Introduction; A.2 Computers and farming; A.3 General business applications


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