Farm Accounting

Farming is a unique business because it relies on living resources such as crops or livestock in order to generate income and profit. From an accounting perspective, this means that farming can be pretty complex when it comes to assets, liabilities, costs and revenue.

At SB Partners we have a large number of farming clients and this has enabled us to gain a specialist understanding of not only the industry, but also the compliance, financial and taxation issues as they relate to farming. We keep up to with government subsidy schemes so we can help you plan your farming strategy to best capitalise on them.

The farming sector is like no other when it comes to opportunities to minimise your tax obligation. From checking you are making the most of depreciation offsets by buying new equipment at the right time, through to accounting for weather-based losses, we’ll give you advice that gives you the best possible tax result.

Our specialised farming services include:

  • Farm budgeting and cash flows
  • Farm sales and purchases
  • Ownership structures
  • Preparation of financial statements
  • Taxation
  • Seasonal planning
  • Succession planning

Cash flow forecasting for the farming sector is a speciality at SB Partners and it can help you to:

  • Confirm your farming plans for the year
  • Analyse your plan to ensure you will generate sufficient income to meet your cash needs
  • Project how much operating credit you will need and estimate when loans can be repaid
  • Communicate your farming plans and finance or credit needs to your lender