On January 25, 2018, members of the Wayne County Cattlemen learned about the Beef Trans finances program. Brian Wickline, WVU Extension Service Ag Agent in Monroe County, spoke on the program, which is a computer-based spreadsheet that helps producers easily see where their operation is at financially, and makes it easy to adopt farm record evaluation and good record-keeping habits.
By using income tax and balance sheet records, the program calculates a beginning and ending net worth statement, net farm income statement and annual cash flow statement. Sixteen ratios recommended by the Farm Financial Standards Task Force are calculated along with other measures to help analyze finances per acre, per cow, per pounds of beef sold and per full-time labor equivalent.
To learn more about the Beef Trans finances program, please contact the Wayne County Extension Office at 304-272-6839.