Financial Management for Agribusiness by W.J. Obst, R. Graham, G. Christie

By W.J. Obst, R. Graham, G. Christie

Monetary administration for Agribusiness offers a realistic method of monetary determination making for all these concerned with agribusiness, together with farmers, horticulturists and aiding companies, to regulate invested cash, actual assets and hard work. It covers the entire levels resulting in a accomplished marketing strategy and gives common labored examples for every step. The authors emphasize the necessity to acquire and checklist the certain monetary and actual documents precious for sound choice making and aspect all levels of economic making plans, together with list holding, education of monetary statements, monetary research, budgeting, source of revenue tax, items and prone Tax and succession making plans. The booklet truly explains how previous monetary info of the enterprise can be utilized to spot and check replacement ideas that might reduction administration in making judgements that meet enterprise and private ambitions. the whole monetary administration approach is then summarised in a finished marketing strategy.

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Meeting tax obligations The financial recording system must meet the responsibilities placed on the owner by the taxation system (see Chapter 7). ) business costs, again including reference to price, date and documents stock values, supported by physical records (numbers). Management control and analysis A well-designed financial recording system offers management the tools for improving financial control. For example, having sufficient money available to meet current obligations is a vital requirement for the survival of all businesses; a good financial recording system will enable the manager to assess the current financial position, and the availability of cash.

EFTPOS and credit card purchases should be documented on the transaction slip. In most cases these slips are itemised, if not the details should be handwritten on the slip at the time of the transaction. 010702•Financial Management for 28 28 15/5/07 14:11:21 2 – Data collection and recording • • • 29 These slips must be kept and later used to update financial records as described previously. These slips must be filed with the rest of the financial documentation each month. Fund transfers also require details to be noted in the fields supplied by the bank.

G. irrigation). Technical information may also be readily accessible via online computer services, which are discussed later in this chapter. Letter file A copy should be kept of all outward correspondence. If a written reply is received, it is stapled to the copy of the original letter; otherwise the outcome of the letter is noted on the copy. Letters and documents generated on a computer-based system need not be kept in a physical file provided the electronic files are secure (backed up) and a logical file naming system is used to identify files.

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