Integrated Farm Financial Statements (IFFS) Software Oklahoma State University Agricultural Economics Department

OSU Ag Econ IFFS Additional Information Crop and Livestock Budgets Cash flow statement Debt worksheet Balance sheet Income statement, financial ratios, stress test

OSU Ag Econ IFFS  Planning and analysis tool OSU IFMAPS and vo-techs Case study development for workshops and courses Farm management courses and labs Other educators Lenders Producers

OSU Ag Econ IFFS  New cost and return estimation software will create IFFS budgets  Quicken data can be imported into IFFS

OSU Ag Econ

IFFS

OSU Ag Econ

IFFS  Excel 97 Crop and livestock budget (CLBUD) = 417 KB Additional Information (AI) = 296 KB MULTSTAT = MB 65 budgets = 1.54 MB 

OSU Ag Econ Getting Quicken Data to IFFS ProgramAction(s)Files Quicken Print to FileCategory list Monthly cash flow report(s): By class (enterprise) QLinkImport Qkn. categories Import Qkn. dataBy class (or whole farm) Generate IFFS dataBy class (or whole farm) IFFSLoad QLink generated files using:AI CLBUD

OSU Ag Econ Developing a Whole Farm/Ranch Plan  Collect farm financial and production information  Develop enterprise budgets (CLBUD)  Complete Additional Information worksheet (AI)  Record asset and liability information (MULTSTAT)  Load budgets (enterprise budgets and additional information) into MULTSTAT  Review financial statements and summary

OSU Ag Econ IFFS Data Collection  Producer completes: - Trend worksheet - Cash operating expense allocation worksheet - Worksheets summarizing production and, if possible, monthly expense allocation - Asset inventory - Debt worksheet - Other income worksheets - Family living expenses worksheet

OSU Ag Econ Alternative financial plans  Outline changes to be made  Modify budgets  Add, remove budgets  Revise balance sheet  Modify debt worksheet  Save new plan