Knowing the financial position of your farm operation is critical to its future success. One of the most important tools in helping you to understand the financials on your operation is the balance sheet. It depicts your financial position at a specific point in time.
Since a balance sheet shows a snapshot of your operation, it is recommended to prepare a balance sheet as of December 31 each year. This allows you to see how your farm operation has changed and grown from year to year. Other benefits of completing a balance sheet each year include:
Learn more about balance sheets by viewing our video posted below and download our Building a Balance Sheet Guide that includes an interactive case study. Then, check your answers with the Balance Sheet Answer Key.
Click on the links to download a balance sheet or member supporting schedule. If you do not have Acrobat Reader, click here for a free download.
Member Balance Sheet
Member Supporting Schedule
Do the math to see what your payment might be, based on the duration and size of your loan. View our calculator.