<P>Using Management Accounting as a Foundation for Linking<BR><BR>Information about supply chain management<BR><BR><BR><BR>Financial Performance Analysis and Strategic Thinking<BR>R. L. “Dick” Wittman<BR>Few farmers understand cost structures and the strategic decisions that differentiate successful farms from those<BR>struggling financially. Traditional Enterprise Analysis hasn’t provided answers growers need to determine what<BR>decisions are contributing to success or failure. Ratio analysis is not well understood and seldom connected to<BR>goal setting and decision-making. This presentation is a primer course that showcases new initiatives in the<BR>farm management arena to implement professional managerial accounting systems. It also illustrates the often<BR>overlooked linkage between financial analysis and strategic decision making.<BR>Specific technical topics and learning outcomes that can result from attending this session includ e:<BR>• Evolution from enterprise analysis to managerial accounting – why and how?<BR>• Building a foundation for performance measurement – use of ratio analysis to evaluate whole farm<BR>business performance<BR>• Using the Dupont Model to assess the impact of performance in operational efficiency, capital asset<BR>management, and use of debt leverage; illustrate how the Dupont Model can be used to simulate the<BR>impact on bottom line performance from specific strategic shifts<BR>• Sorting out Accounting and Economic Analyses<BR>• Identifying manageable segments and developing standardized profit/cost center report formats<BR>• Handling unusual transactions – how do you assure the initial transaction entry provides the ability to<BR>have integrity in both external financial reports and internal managerial accounting reports </P>

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