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Ohio | A balance sheet is only reflective of the day it is done. In my opinion you should really only update your balance sheet once a year so that you can track your net worth on a consistent cycle.
I try to keep a cost of production estimate sheet by crop that I update every other month or so as costs move from estimates to actual. I then tie my different crop estimates together to create a cash flow projection for the overall farm.
I think the value in knowing your numbers is more about planning your marketing targets and being able to consistently sell higher than your COP instead of hoping for the next market rally to make a big sale. | |
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Know your numbers!
