Financial issues for the dairy farm in a drought
Primefact Number: 549 Edition: First edition Released/reviewed: 01 Jan 2007
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.
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