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Farm Business Management (FBM)
The primary emphasis of Farm Business Management is to assist farm families in meeting their business and personal goals through quality farm records and sound business decisions. Farm Business Management is designed to work closely with active, functional farmers and persons interested in farming as a business.
This program is primarily taught at the student’s place of business, or using a confidential, web-based discussion session, rather than in a traditional classroom. Individualized instruction is used to the fullest. The instructor visits the farm on a regular basis and understands the strengths and weaknesses of each student’s business. Additional seminars or co-hort discussion groups may also be offered as a part of the educational program.
Developing a set of sound farm records is the basis for the program. Primarily, computerized accounting is used to handle the complex records which must be kept in an efficient farm business. At the close of the calendar year, these records are summarized with assistance of the instructor and a computerized business analysis is prepared for each student to show how well their business did financially during the year. Each student also receives an Area Farm Business Analysis summary, which allows them to compare their information with averages of other Farm Business Management students (farmers) in their local area and in North Central & Northwestern Minnesota.
To best meet the needs of the Farm Business Management student, instructors work very closely with farm lenders, Ag extension personnel, and other Ag professionals. Instructors must be informed of current issues relating to agriculture, because a decision made today on the farm may be implemented the following day and will influence the long-range future of that business.
Primary Instruction Includes:
Lee Todnem – East Central Minnesota
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Last Updated: 12/7/12