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Financial statements every farm should use

publication date: Oct 1, 2015
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With the end of the year in sight, it’s time to start thinking about evaluating your farm’s business performance for the year – and that means it’s time to think about the creation of the three key financial documents that provide a picture of the financial state of your business: the balance sheet to show your overall financial position; the income statement to show your financial performance for the previous year; and the statement of cash flows to describe the way money – including loan proceeds, debt service, and family living expenses – moves through your business.

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