On Tuesday 23 February I was delighted to be invited along to Newton Rigg College to speak to the Level 4 Agriculture Business students and explain a little bit more about accountancy and running an agricultural business.
As specialist agricultural accountants we understand that farming accounts are unique and a key factor in the success of a farming business. Being a farmer isn’t simply looking after land and stock, it is a complex business with turnovers, profits and expenses to consider. During my presentation I was able to explain the systems that are used to keep efficient and effective financial records, how you can calculate realistic profit margins, projected gross and net profits using examples from a real agricultural business’ accounts along with how profit and loss statements and balance sheets can help farmers to monitor the financial success of their businesses.
Coming from a farming background and also owning a farming partnership with my brother I really do understand what it takes to be both a farmer and an accountant and being able to speak to some of the next generation of farmers in Cumbria was a great experience.
Posted: February 25th, 2016