Monday, January 21, 2013

Ohio Farm Bench Marking and Profitability Tools

FINPACK (Farm Financial Planning and Analysis) is a nationally known agricultural software package designed to aid in farm planning and credit analysis, as well as evaluate the financial position of a farm while exploring business alternatives and improving business decisions. OSU Extension Educators can bring FINPACK to your farm.

OSU Extension Offers Farm Financial Analysis

In today's capital intensive agriculture, every farm business needs a balance sheet that is updated annually at the very least. A balance sheet is often required by a lender to show net worth and liquidity leverage. However, as farm businesses analyze their balance sheets over time, the debt structure and net worth changes can provide insight into business strengths and/or weaknesses. FINPACK has set the standard for agricultural balance sheets.

The future is often dictated by the past. Before making decisions that will affect the future of a farm business, the past year's profitability should be calculated and compared to industry benchmarks. With FINPACK, the profitability analysis is called FINAN and it provides a complete accrual analysis, including income statements, cash reconciliation, the "Sweet 16+" ratio analysis, and production analysis. Financial threats and opportunity can be identified with FINAN.

How do you know if a major change in the business is financially feasible? FINLRB will help farm businesses answer the "what if we do this" question and will help you evaluate the financial implications before the money is actually committed. Strategically positioning a farm business is critical in today's rapidly changing agriculture. FINLRB helps you evaluate the changes you need to consider to remain successful.

OSU Extension can bring FINPACK to your farm. Get started for the first-time or use FINPACK again. OSU Extension and FINPACK have been assisting farm businesses for decades. Contact Darke County Extension at 937.548.5215 or You can also visit to find out more information.

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