Find financial success on the farm with Earl Smith! - November 17th
Don't miss this unique opportunity to join Earl Smith P. Ag, as he discusses Financial Management on the farm. This full day workshop is ideal for farmers who want to learn the basics of financial statement analysis and improve their understanding of management of credit from financial institutions. There is no better teacher than Earl on this very important topic!
When: Tuesday, November 17th (the day before The Farm Forum Event)
Where: The Hilton Garden Inn (Downtown Saskatoon)
Cost: $300 for the full day ($150 for each additional attendee from the same farm)
Space is limited!
Register today by calling us toll free at 1-877-276-7526 or by replying to this email.
Workshop Details
Please note that this is intended as a cover the “basics” workshop and is designed for participants with little or no experience or training in accounting, financial analysis and/or credit use relating to farming.
1. Review of the Basics:
• Common financial statements and how to read them
• Cash vs accrual based accounting
• Balance sheets vs net worth statements
2. Cash Flow Worksheets and Financial Projections
• When farming returns are so variable, are financial projections of any value?
• Using your accounting records and statements with EV
3. Farm Financial Statement Analysis
• Key liquidity and solvency ratios
• Debt servicing capacity including calculation and use of EBITDA
• Return on equity and trend analysis
4. Overview of Agricultural Credit and Financing Options
• Sources and uses of credit
5. The Banking Relationship
• Understanding the credit process
• Preparing for meetings with your account manager
• Managing the banking relationship
About Earl Smith, P. Ag.
Earl Smith is a farm management and farm succession consultant based in central Alberta. He is also an enthusiastic, talented teacher who has honed his skills as a training facilitator and speaker throughout a diverse career in the fields of agriculture, business, finance and technology. The following is a brief summary of his qualifications and experience related to developing and delivering the Farm Financial Management Workshop:
- Professional Agrologist and holds a Bachelor of Science in Agriculture degree from the University of Saskatchewan.
- Employed by RBC Royal Bank for 12 years in Saskatoon, Regina, Toronto and Calgary holding numerous positions related to agriculture lending and training. For example, his last position at RBC was Manager, Agriculture and Agri-business Prairies and in a previous role he had national responsibility for RBC staff agriculture lending and marketing training.
- Instructed business and farm management courses at Olds College and the School of Agriculture, University of Saskatchewan.
- Worked as a consultant designing and implementing internet based learning and knowledge management systems for several companies in the United States and Canada.
- Established a franchised training business that provided leadership and management development programs to small business owners.
- Owned and operated a grain farm in west central Saskatchewan.
In three 2008 deliveries of the Farm Financial Management Workshop, participants rated Earl an average 4.8 out of 5 on evaluations when asked if the “Facilitator was knowledgeable, presented the content clearly and was able to answer my questions”.
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