Carefully assess the financial implications of a drought and any changes you plan to make to your business. A wrong decision may place the business into a position from which it cannot recover, so it is essential that you seek professional advice from your accountant, bank manager, and/or farm advisers.

Accurate assessment of your financial position will have a major bearing on what are the most appropriate management decisions to make. This Primefact looks at:

• cash flow reports;
• partial budgets;
• tax implications of forced sales;
• monitoring your financial position;
• financial assistance.