Brent King, BTG Global Advisory member and managing Director at GlassRatner's Kansas City office, was published in the November 2017 issue of Successful Farming Magazine. His article "6 Killer D's For Farm Finances" describes six common elements that often lead to financial difficulty, including bankruptcy, in the farming industry.
Successful Farming Magazine is compiled of the latest agriculture news, market updates, and more for farmers and agriculture professionals around the country.
Below is an excerpt from the article.
"Disarray and inefficient financial management systems that fail to deliver accurate and timely operating reports can blind you to the extent and magnitude of problems. Distraction from cyclical earnings can create a sense of euphoria and may lead you to manage the business assuming that higher-than-normal earnings are the new normal. For commodity-based industries, it is reasonable to assume that every high is going to be followed by a low, before returning to a normalized price environment.
Financial management models are among the most valuable management tools because they provide you with the ability to forecast financial results based on a wide range of operating scenarios. However, financial models are frequently overlooked if you find your operation in distress."
Click here to read the full article.