Financial benchmarking and how farmers can use it will be a focus of the annual conference of the Farm Financial Standards Council. The event has been set for July 30-August 1 at the Crowne Plaza Minneapolis Airport.
How farmers and financial advisors are using benchmarking and its pros and cons will be a major part of the conference discussion, says Jim Kelm, Kelm Management, Red Wing, Minn., chairman of the planning group.
“We will take a hard look at how benchmarking can help farmers improve the financial performance of their businesses,” he explained. The meeting is definitely not for farmers only as it will give insight to those who can help farmers.
Also on the agenda will be discussion on methods for accounting for hedging as well as discussion on updating recommendations for the Financial Guidelines for Agriculture.
“The meeting will be open to any and all who are interested in farm financial recordkeeping,” Kelm explained.
A complete agenda and registration information is available at www.ffsc.org.