Farmers across the region have the chance to expand their knowledge at workshops designed to help provide the financial skills essential to managing an agricultural enterprise.
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The free workshop will be held at Inverell on September 6.
It has been spearheaded and funded by food and agribusiness banking specialist Rabobank's Rabo Client Council, a group of the bank's farming clients who volunteer their time implementing programs that contribute to the sustainability of rural and regional communities.
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Offered at no cost to participants, the interactive workshops provide practical, hands-on advice for understanding financial statements and banking requirements and explore topics such as taxation versus management accounting, essential business management ratios and understanding key components of a business's financial profile.
Rabobank Central and Northern NSW Rabo Client Council member Cindy Job said financial skills are critical for farmers.
"During this series of workshops, we will be delivering a combination of Module One and Module Two content in key locations across NSW," Ms Job said.
"We are looking forward to being able to offer farmers the opportunity to take the first steps in developing their financial skills through attending one of the Module One workshops."
Ms Job said in the first module, participants explore financial reports "one of the most useful and underutilised reports for many farming businesses".
"Module One will help you gain an understanding of how to read, interpret and use these reports for your business," she said
"In the second module, we take an enterprise-focused approach, separately looking at grains and livestock enterprises.
"We will consider cash flow implications of a variety of enterprise choices. The module will also focus on preparing annual cash flow budgets."
Ms Job said understanding gross margin analysis is a critical step in farm planning and decision-making.
Rabobank head of relationship management Central & Northern NSW Craig Croker said since commencing these workshops in 2018, the Rabo Client Councils had delivered this learning opportunity to more than 3,300 farmers across Australia and New Zealand.
"Attendees at previous workshops have told us the content provided through the workshops is real and valuable - meaningful information they can walk away with and use in the business," he said.
The workshops are not restricted to the bank's clients with 30 spots available at each session.
Sessions will also be held at ill be held in Cooma, Dubbo, Forbes, Nyngan, Tamworth and Wee Waa.
To register for the workshop visit https://rabobankaunz.eventsair.com/financial-skills-workshops/registration/Site/Register
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