An overview of the latest work done by the Farm Financial Standards Council (FFSC). The topics covered include: * Deferred taxes, how to calculate them along with a discussion on depreciation approaches. As well as how deferred taxes impact the value of farm assets including farmland and how this effects buy sell agreements and estate planning. * 13 new financial ratios. After more than three years of in-depth analysis and discussions the recommended financial measures has been reduced from 21 to 13. * Financial Guidelines for Agriculture: An Implementation Guide for Non-Accountants. This 23 page document has been updated for consistency with the Financial Guidelines. Tables and other graphics have been improved to give it a more modern look.
Indicate how deferred taxes on farmland impact the balance sheet
Identify the 13 financial measurements recommended by the Farm Financial Standards Council
Recognize the changes to the Financial Guidelines for Agriculture Implementation Guide