This fact sheet explains why a balance sheet is an essentialfarm finance management tool. It explains terms like net worth, equity and the different types of assets and liabilities.

Key points

• Net Worth is the most important benchmark of a business.
• Undertaking the annual review of the balance sheet will give a greater understanding of the health of the business.
• Even if you never intend to sell the farm, it is important to know what the business is worth.

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Contact GroundCover Direct on 1800 11 00 44 or email ground-cover-direct@canprint.com.au to request copies. Publications are free but postage and handling costs may apply.