Using Benchmarks to Analyze the Efficiency of Your Farm Business

The Illinois Farm Business Farm Management (FBFM) Association provides comprehensive farm and financial management analysis for operating farmers. Producers receive various computerized production and financial analysis reports about their operation. They also receive a comparative analysis report that compares their farming operation with others that are similar in size, soil productivity, and type of farm. FBFM uses guidelines from the Farm Financial Standards Council to prepare comparative financial reports.

At our Agronomy Day tent display, we will feature examples of these reports, along with the latest information compiled from the farm record data. Examples of various computer software programs that are available through FBFM, including the new PC Mars Windows version for farm accounting, will also be demonstrated.

Dale Lattz, Extension Specialist
Department of Agricultural and Consumer Economics
(217) 333-0754; d-lattz@illinois.edu

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Department of Crop Sciences
College of Agriculture, Consumer and Environmental Sciences
University of Illinois Extension