Know Your Numbers, Know Your Options

Know Your Numbers, Know Your Options is a self-paced, 12-hour program designed to help farmers and ranchers strengthen their financial and operational management skills. 

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The curriculum covers topics like goal setting, risk management and financial planning. By the end of the course, participants will be equipped to set specific farming or ranching goals, understand key financial documents and use them to make sound business decisions. Participants have six months to complete the course and receive a certificate of completion.

The program is available through NU Advance, the university’s course delivery platform for online non-credit and professional development offerings. Jessica Groskopf, a Nebraska Extension educator and course instructor, said the dynamic learning experience works on desktop and mobile devices, making course content like videos, discussion boards and activities more accessible for enrolled participants.

“We’ve redesigned this course to meet producers where they are, both in terms of their time and their financial knowledge, while updating it with the latest information and strategies” said Jessica Groskopf, Nebraska Extension agricultural economist and course instructor. “Whether someone is just getting started or wants to sharpen their skills, this course offers a flexible, practical way to build confidence in managing the business side of the operation.”

After completing this course, participants will be able to define specific goals for their farming or ranching operations and outline a plan for achieving these goals, supported by present and projected cash flow budgets. They will also be prepared to establish and maintain a financial management information system, utilizing tools such as income statements, balance sheets, and cash flow budgets to guide their decisions.

The course includes four modules of interactive content that guide participants through critical aspects of agricultural business management:

• Module 1 – Goal Setting & Record Keeping: Participants learn effective goal-setting techniques and explore key accounting concepts, such as cash vs. accrual accounting, and record reconciliation.
   
• Module 2 – Balance Sheet Construction and Analysis: This module focuses on building and analyzing balance sheets, with an emphasis on financial ratios like working capital and debt-to-asset ratios.
   
• Module 3 – Cash Flow & Income Statements: Participants gain insight into cash flow management, budgeting, and income statement development, including accrual adjustments.
   
• Module 4 – Taxes: This session introduces farm taxation basics.

The course fee is $160 per person. The sixth month window to complete the course begins when you receive your login credentials after you register. 

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