tailieunhanh - Farm Financial Statements: Ag Decision Maker

A scholarship or grant is an award that does not have to be repaid. It may be given on the basis of need, or merit, or both. Most scholarships are conferred by individual law schools. Some organizations may also have scholarships to offer. Among them are local bar associations; fraternities, sororities, and other social clubs; religious or business organizations; and the US Department of Veterans Affairs. The availability of scholarships and grants is limited, but worth researching. Law school admission and financial aid offices can provide information about the resources available. Be aware that many scholarships and grants are merit-based and may require a certain level of academic performance for continuation. Some. | Farm Financial Statements Ag Decision Maker File C3-56 The financial position and performance of a farm business can be summarized by four important financial statements. The relationship of these statements is illustrated below. Information from these statements can be used to make important financing and investment decisions to substantiate credit applications to derive performance measures for analyzing the farm business to develop budgets for planning purposes The major statements and their purposes are as follows Net Worth Statement Summarizes the property and financial assets owned the debts owed and the net worth of the business at a point in time. Net Income Statement Summarizes the income generated the expenses incurred and the net income earned by the business during a period of time. Statement of Cash Flows Summarizes all the sources and uses of cash by the business during a period of time. Statement of Owner Equity Shows how net worth grew from the beginning to the end of the year. Forms for preparing each of these statements are found in this bulletin. Several supplemental schedules also are provided where assets and liabilities can be listed and subtotals of their values carried forward to the statements. Most of the information can be taken from the same sources used to prepare your income tax return plus a listing of assets. More detailed information can be found in the following Iowa State University Extension publications Your Net Worth Statement FM 1791 AgDM C3-20 Your Farm Income Statement FM 1816 AgDM C3-25 Twelve Steps to Cash Flow Budgeting FM 1792 AgDM C3-15 Financial Performance Measures for Iowa Farms FM 1845 AgDM C3-55 Relationship of the four major financial statements Accounting Year . . . and justice for all The . Department of Agriculture USDA prohibits discrimination in all its programs and activities on the basis of race color national origin gender religion age disability political beliefs sexual orientation and marital or .