Farm Finance for Women Workshop ...
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Nacaa poster 2011 woodruff

Published on: Mar 3, 2016
Published in: Education      Economy & Finance      Business      
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Transcripts - Nacaa poster 2011 woodruff

  • 1. Farm Finance for Women Workshop Woodruff, J.N.; Bruynis, C.; Clevenger, B.; Herringshaw, D.; Mangione, D. OSU Extension, Erie County, Sandusky, Ohio Annie’s Project Level II What is Real Colors®? Farm Finance for Women ABSTRACTThe Farm Finance for Women workshops aredesigned to address the area of financial risk.management. After completing several Annie’s Workshop OutlineProject workshops, educators realized a need toprovide more in-depth workshops focusing on thedevelopment of financial statements, recordkeeping, The workshop is designed for a classrelationship with money and financial analysis of thefarm business. As a result, the Annie’s Project co- size of 10 -12 women, meeting fourcoordinators wrote and received a North Central Risk times for three hours.Management Education Center Grant to develop a Session 1 - Emotions & Money;new Annie’s Project, level two workshop. Cash FlowThe workshop is designed for a class size of ten Session 2 – Quicken Recordswomen, meeting four times for three hours. Session Session 3 – Financial statementsone includes exercises related to relationship with Session 4 – Financial analysismoney, how money is utilized, and cash flow for boththe household and the farm. Session two focuses onrecordkeeping. Participants have an opportunity to Teaching Tools Included:learn about the Quicken software package while • Class exercises from the bookcompleting exercises on a computer. The last two “Money Talk”sessions focus on financial statements, how todevelopment the statements, where to find the • Homework farm case studiesnumbers and how to evaluate your financial situation • Extension resource factsheetsusing financial ratios. Class exercises and homework • Local Lender input and referenceswere utilized as teaching tools. A guest speaker fromone of the local lending institutions serves as part ofthe teaching team, providing information from the A Few Objectives:lender’s point of view. • Increase knowledge of financial statements.Three workshops were piloted this winter with 47women participating, with one workshop still to come • Increase knowledge of using Quicken Software.this summer. Evaluation results showed that womenimproved their knowledge of the balance sheet, Farm Finance for Women • Increase confidence in managingincreased their confidence level with financialmatters and improved their ability to conduct a Pilot Project Results farm finances.financial analysis of their operation. • Increase ability to conduct a financial analysis. 3 Workshops held, 1 workshop in session - 47 women have completed the class. Program evaluations using a 4 point Likert scale indicated participants increased their knowledge in each area measured. “This class has given me real-useable The largest increases were: solutions for keeping better records that will benefit our operation. Thanks!” • improved financial decision making skills (+.93) • increased confidence level (+.85) ~Farm Finance for Women Participant • 6% increased their confidence level by 2 points • financial analysis ability improved (+1.17) Ohio State University Extension embraces human diversity and is committed to ensuring that all research and related educational programs are available to clientele on a nondiscriminatory basis without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, or veteran status. This statement is in accordance with United States Civil Rights Laws and the USDA. Keith L. Smith, Ph.D., Associate Vice President for Agricultural Administration and Director, Ohio State University Extension TDD No. 800-589-8292 (Ohio only) or 614-292-1868 .