Integrated Farm Financial Statements (IFFS) Software

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Integrated Farm Financial Statements (IFFS)
Software

• Oklahoma State University
• Agricultural Economics Department

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

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IFFS

• New cost and return estimation software will
  create IFFS budgets
• Quicken data can be imported into IFFS

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IFFS
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IFFS

• Excel 97
• Crop and livestock budget (CLBUD) 417 KB
• Additional Information (AI) 296 KB
• MULTSTAT 1.913 MB
• 65 budgets 1.54 MB
• http//www.agecon.okstate.edu/iffs/

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Getting Quicken Data to IFFS

• Program Action(s) Files
• Quicken Print to File Category list
• Monthly cash flow report(s) By
  class (enterprise)
• QLink Import Qkn. categories
• Import Qkn. data By class (or whole farm)
• Generate IFFS data By class (or whole farm)
• IFFS Load QLink generated
• files using AI
• CLBUD

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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

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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

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Alternative financial plans

• Outline changes to be made
• Modify budgets
• Add, remove budgets
• Revise balance sheet
• Modify debt worksheet
• Save new plan