August, 2012
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FFSC Day 2 – Session 3
The first session in the afternoon was a panel discussion of three professors from the University of Illinois on using cash versus accrual income. There is a myth that cash versus accrual “averages out over time”. With surgery of about 1,000 farms from 2001 to 2006, they found: 1. Cash versus accrual was about […]
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FFSC – Day 2 Session 2
Our second session was presented by Ron Homann with 1st Farm Credit Services on how to use the ratios and standards. A first level loan may not require a balance sheet or income statements. If the “score” is high enough then a loan of up to $250k or $500k operating loan may be granted. Their […]
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FFSC – Day 2 Session 1
Our first session today was presented by Economics Professor Kevin Waspi of the University of Illinois. He presented a discussion on the Economic and Financial Outlook and some highlights are: Our economic policy is based on the the policyI used in the late 1990’s to help get Japan out of their lost decade. Everybody knows […]
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Farm Financial Standards Council Annual Meeting – Day 1
On Monday, I had a meeting in Milwaukee and then headed down to Bloomington, IL by car. I stopped off in Leland, IL to meet with a client and he took me on a tour of a couple of his fields. Normally, his corn yields would near or exceed 200 bushels per acre. From the […]