Do you know where your money is going? Can you justify it?

Key Points

• Top farm businesses understand their expenditure in five key cost areas: Variable Costs, Overhead Costs, Financial Costs, Personal Costs and Capital Costs. 
• Good cost management is central to running a profitable farming business. It is not just about reducing costs but understanding the returns. 
• Understand why costs are grouped which will assist with enterprise analysis and business decision making. 
• Costs tend to increase over time – review them regularly and look for savings. 
• It is important to know the impact of costs on both your profit and loss and your cash flow.

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Region National, North, South, West

• 222.14 kbFarm Business Costs fact sheetDo you know where your money is going? Can you justify it?