Kansas State University has launched a new self-paced online course, Finances and the Farm, now available to Kansans and others.
“It is important, especially during these challenging times, to be proactive with your farm financial management,” said LaVell Winsor, agricultural economist with the K-State Research and Extension Farm Analyst Program. “Making this training online and self-paced means individual producers or farm families can complete the six lessons at a time that works best for them and from the comfort and safety of their own homes or offices.”
The course is similar to the popular in-person Farm Financial Management classes held this time last year that drew nearly 700 participants.
“Many of the participants from our classes last winter expressed that they would like to complete this material with their spouse or other shareholders on their farm,” said Robin Reid, an extension economist with K-State’s Department of Agricultural Economics. “This online course will give them that opportunity.”
This year’s training can be taken for educational purposes only, but also has been approved to fulfill requirements for Farm Service Agency borrower’s training financial credit, Winsor said.
The six-lesson classes will delve into such topics as balance sheets, income statements and cash flow. Depending on the type of farm they operate, participants can choose either a Cattle and Crops case farm or a Community-Supported Agriculture (CSA) and Farmer’s Market case farm for which they can complete hands-on financial activities.
The Finances and the Farm training prepares participants to use financial management techniques and to set goals for their own operations, plus learn about making changes to avoid financial difficulties, Reid said.
Bonus content includes information on determining the costs of production, grain marketing and family communication.
The fee for those taking the course for educational purposes only is $100. For those seeking FSA credit, the fee is $300. Additional information about this training and other topics can be found at www.agmanager.info.