Farming is a unique business, offering diversity and opportunity that is unseen in other types of business. Done well, it offers an enriching life and the potential to create a legacy that extends through generations to come. In spite of its many rewards, a farming
business faces many challenges; including greater variations in commodity prices, and a reliance on Mother Nature, who, really
likes to keep things interesting. Rainfall is never the same from one area of the country to the next, and even neighbouring farms can record significant differences in their rainfall.
Owning a farm is not easy, but with the right support and guidance, it can be manageable and fulfilling. Andrew, Matthew and Joseph, the Partners at CKC Accountants have all worked on the land and enjoy working with a large number of farm businesses as accountants.
One thing we’ve identified from our experience is a need for improved farm business management. These points below outline how a good adviser can help you manage your agricultural enterprise and build your own business skills:
1. Your farm is more than land, it is an asset that needs looking after.
2. As a farmer chances are you are partnering with a bank to assist with financing your enterprise.
3. How do you measure profitability as a farmer?
4. Dealing with the tax man and understanding the tax concessions available.
5. Succession Planning. How do you successfully transfer the family’s prized asset to the next generation?
Farming is hard work. Don’t make it harder by trying to figure it all out on your own. A good accountant will become a trusted adviser
who will help you develop a sustainable farming enterprise. Contact the team at CKC Accountants if you think it’s time you treated your farm as a business. Read more on our webpage: http://ckcaccountants.com.au/five-reasons-your-farmingbusiness-needs-a-good-accountant-adviser