Published Mar 2, 2016

Important Farm Financials: How to Get Started

By Practical Farmers of Iowa


Most people who get started in agriculture do it out of a desire to grow things, rather than a desire to work with spreadsheets, do calculations or run a business. But understanding basic financial information is vital for long-term success. Paul Quam has extensive experience providing farm management and financial services across the nation, and will provide an introduction to farm financials. He’ll discuss what numbers you need to be collecting, and how to use them to formulate a cash-flow, enterprise budget, as well as projected income. This farminar is also a chance for beginning and experienced farmers to ask questions of someone with experience as a banker or loan officer.

Paul Quam has 40 years of experience with agricultural finance. He completed an MBA in finance and marketing, and has worked for a Fortune 500 company; as operations manager of a 5,000-acre soybean seed operation; and as an agricultural loan officer and C.E.O. of a community bank. For the last 27 years, Paul has worked as an independent financial consultant, serving clients ranging from family farms to Fortune 500 companies in 14 states. He especially enjoys helping young people get off on the right foot.