Businesseiise To Tackle Data Management Challenges STATE COLLEGE (Centre Co.) Par ticipating in a dairy business analysis and benchmark program can shed consider able light on how efficiently a business is performing. However, the information one gets back from participating in such pro gram is only as good as the information that is entered into it. Transforming data into information is a complex process that involves a number of different steps. An important, but often overlooked, step in information manage ment is data organization, which provides structure to the raw data so it can be pro cessed, reported, and analyzed. Standardi zation in data organization is critical to developing uniform and useful bench marks. Producers participating in the Businessense Program learn how to imple- The PA Crop Insurance Assistance Program has been extended for crop year 2003. Benefits include: To receive these insurance agent www.rma.usda.gov Enrollment Deadlines: January 31 - Adjusted Gross Revenue (AGR) AGR-Lite March 15 - Spring Planted Crops Pennsylvania encourages growers to have crop insurance protection as part of their farming risk management plan. All policy fees and approximately 20 percent of net premium costs are paid for growers. Sponsored by the PA Department of Agriculture with cost share support from RMA/USDA. ment this best management practice in in formation management. The lack of standardization in how data is organized is particularly prevalent in the dairy industry. While the national Dairy Herd Improvement Association has done a tremendous job in standardizing produc tion records, financial records are another story. The Farm Financial Standards Council has done a sound job in develop ing guidelines for processing and reporting data for farming businesses in general. However, it has not addressed standardi zation of data organization for dairy busi nesses. The chart of accounts in account ing programs provides structure to the financial data of a dairy business. Developing a standardized chart of ac FREE “CAT” Coverage Discounted Premiums & Fees (Paid for “Buy-Up” Coverage) Sam Hayes Secretary of Agriculture Pennsylvania Crop Insurance Program benefits, contact a crop List available at today. counts for dairy businesses is the initial step in developing better benchmarks. A prime example of the lack of standardiza tion in financial records and how it can af fect benchmarks is BST. Since its intro duction in 1995, there has been little consistency in classifying BST expenses. Some producers classify it as feed ex penses; others as vet expenses, and others as supply expenses. Other producers have set up a separate account for BST. When used as approved, BST expenses will total between $9O-$ 100 dollars per cow per year. Vet expenses and supplies expenses often account for similar figures as BST expenses. So business owners who classify BST as vet or supplies expenses might look at a benchmark for these expenses i| o Lancaster Farming, Saturday, December 28, 2002-A39 and wonder why they are spending twice as much as other herds. With the turn of a new year comes an opportunity to review how data is organ ized in your dairy accounting system. Al though standardization should be ap proached on a national level, individuals at Penn State and Cornell Universities, in consultation with leaders from the dairy financial industry, have developed a stan dardized chart of accounts tor dairy busi nesses operating in the Northeast. The standardized chart of accounts is available in several formats, including a paper copy that shows how to set the system up in any accounting program. The standardized chart of accounts is also available to users of Quickßooks and Perception accounting programs. The chart of accounts has al ready been set up to operate correctly in these programs. They are available on disks that can be easily restored to your computer. Paper copies and disks can be obtained by sending an email to HYPER LINK “mailto:bhilty@psu.edu” bhilty@p su.edu or by calling (717) 948-6612. Producers participating in Businessense can learn how implementing better busi ness and information management prac tices can help improve business perform ance. Businessense is a series of three meetings designed to progressively build the participants knowledge and use of best management practices in information and business management. Participants will analyze their dairy business using the Penn State/Cornell Dairy Farm Business Summary and a systematic approach to business analysis. Program locations for this winter in clude: Lancaster County for Lancaster and surrounding counties; State College for central counties; Carlisle-Chambersburg area for Cumberland, Franklin, Adams and surrounding counties; Meadville for northwest counties; Troy for Tioga, Brad ford, Sullivan and surrounding counties; and Somerset/Bedford for Somerset, Bed ford and surrounding counties. The cost of the program is $2OO per pro ducer. However, a grant from the North east Center for Risk Management Educa tion will cover 50 percent of the registration fee. Additional people from the same dairy business can attend for 35 per person. Participation is limited to the first 15-16 producers who register at each location. For additional information about Businessense, including dates and specific locations, or to register for a session near you, please call the Dairy Alliance Office at (888) 373-PADA or e-mail HYPER LINK “mailto:bhilty@psu.edu” bh.ity@p su.edu. Who buiil the new Farm Show? What did the Farm Show look tike years ago? What happened along the way? Find out about the glories of the past and the new Farm Show to come when we look over 86 years of Farm Show and its new construction in our Farm Show "Showcase" Section in the Jan. 4 issue. * ft Aqua-Therm Outside Wood Burning Furnace - Clean - Easy - Safe - Efficient Buy the top of the line! 'Stainless Steel Fire Box 'Ash Removal Auger *l5 Year Warranty 'Thermostatically Controlled Heat your house shop and/or hot wa*er with one unit call 717-1 Email: mkpowell@paonlme.com ~ V- ir more information 138-9270 or 1-888-382-8170
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