An agriculture balance sheet template is a pre-made spreadsheet that you can use to create a balance sheet for your farm business. A balance sheet is a financial statement that shows a farm's assets, liabilities, and equity at a specific point in time. It is a snapshot of a farm's financial health and can be used to track progress over time.
Printable Agriculture Balance Sheet Template [PDF, Excel & Word ]
An Agriculture Farm Balance Sheet template typically includes the following sections:
- Current assets: These are assets that can be converted into cash within one year, such as cash, accounts receivable, and inventory (crops, livestock, and supplies).
- Intermediate assets: These are assets that can be converted into cash within one to three years, such as prepaid expenses and growing crops.
- Long-term assets: These are assets that cannot be converted into cash within three years, such as land, buildings, and machinery.
- Current liabilities: These are liabilities that must be paid within one year, such as accounts payable and short-term debt.
- Intermediate liabilities: These are liabilities that must be paid within one to three years, such as intermediate-term debt.
- Long-term liabilities: These are liabilities that do not have to be paid within three years, such as long-term debt.
- Owner's equity: This is the amount of money that the owner of the farm has invested in the business.
One of the key differences between an agriculture balance sheet template and a general balance sheet template is the inclusion of specific agricultural assets and liabilities. For example, an agriculture balance sheet template will typically include separate sections for crops, livestock, and supplies. It may also include sections for prepaid expenses and growing crops.
Another difference is that an agriculture balance sheet template may be designed to track certain metrics that are important to farmers, such as the value of crops held for sale, the value of breeding livestock, and the amount of debt that is secured by agricultural assets.
