If you are a professional working in agricultural financial management, you’ve probably read materials that have referred to the Farm Financial Standards Council. Perhaps you’ve downloaded a copy of the Financial Guidelines for Agriculture, or the Management Accounting Guidelines.
It is likely that you’ve heard presentations that mentioned the ‘Council’ and all the work it has done for the industry. Or you’ve read a blog by a Council member on Money Matters at the Farm Futures site.
Maybe you’ve wondered about who makes up the Council? How do they develop these documents and industry guidelines, and those ‘Sweet 16’ Financial Ratios? How could you participate with other professionals who study, develop and apply the standards?
Here is what others have to say:
Working with producers in educational farm business management I observed the impacts of the Council in standardized terminology, statement formats, and tools for analysis – across lenders and education. Since joining FFSC I find direct participation keeps my professional efforts on track, and the standards set a goal in working with producers and their financial partners.
The Farm Financial Standards Council provided me with a valuable resource for the proper presentation of agriculture producer financial statements that I could not find in any of the standard CPA research services. My membership in the Council has given me the opportunity to connect and exchange ideas with some of the brightest agriculture business, academic and credit leaders in the country.
Keith A. Raynor, CPA
Dunn, North Carolina
“As farm operations become more complex the owners and managers need accurate financial statements to help them to make sound business decisions. The Standards set by the Council provide a roadmap for producing high quality financial information for managing your farm business, keeping your bankers happy, and benchmarking your farm’s results.“
Farm Credit East
Plus these comments from our membership survey:
“Making the business and finance side of the farm fun and interesting will greatly help the cause of improving farmers’ financial situation.”
“Excellent group of professionals. The FFSC has provided us with a common ground and understanding to deal with our farmer borrowers.”
“Great group of folks who I happily call friends!”
Be a part of it. You can become involved with developing the Financial Guidelines for Agriculture. You can be a member of the team and work with the professionals who do the work of the Council and help shape the future of agricultural financial management!
• Technical — work as part of small or larger groups in writing the Guidelines and keeping the documents current with technology, changes in tax law, and financial management trends.
• Marketing — is charged with promoting the activities of the Council and carrying its banner at industry expositions and conferences.
• Finance — works at securing individual and corporate financial support so the Council can continue its mission.
• Membership — recruits members to make sure there are always fresh thoughts and ideas flowing through the activities of the organization.
This once-a-year gathering provides a forum for the application of financial and management accounting standards and issues. Professionals from all over the country and from all disciplines participate in the program at this annual event, both as presenters and observers.
The conference also provides an excellent environment for networking with others involved in agricultural financial management.
The Farm Financial Standards Council is a non-profit organization consisting of industry professionals representing agricultural producer groups and individual ranchers and farmers, banking, the Farm Credit System, accounting, insurance companies, financial advisors, agribusiness companies, academics and universities, private finance companies, university cooperative extension, and others involved with agricultural production and finance.
Benefits of Membership
- Participate in Council Committees.
- Eligibility to stand for election to the Board of Directors and/or officer positions.
- $25 discount off published registration rate for the Annual Conference.
- Automatic and complimentary updates on Financial Guidelines for Agriculture and Management Accounting Guidelines for Agriculture as soon as they become available.
Annual dues for being a member of the Farm Financial Standards Council are $75. Each membership ‘year’ will be July 1 – June 30, in conjunction with the fiscal year of the Council.
(Download PDF for more details on our membership program.)
To join (or to renew your membership), fill out the following form. We’ll email you an invoice that will allow you to pay your annual dues online (although you can still mail us a check, if you prefer).
The Council is registered with the Division of Professional Regulation in Illinois as a sponsor of continuing professional education for public accountants.
(License number 158.002205)