Workshop (Continued from Page 39) Giving the data good structure will allow good accountants to provide the information “on a one page information statement” that’s useful for tax preparers and banks, noted Hilty. Problem is, “some folks don’t know computers well enough,” he said, and need to take the time to learn the systems and the software. That could take time. “Nothing is more boring than reading a computer manual,” said Hilty. “If you have trouble getting to sleep, it’ll put you to sleep just like that.” The key formula that most computer account sys tems use is the one in which “assets equals liability plus equity,” said Hilty. Software that takes accrual accounting into effect provides a more accurate picture of the financial performance of the business. What that type of ac counting gives dairy mangers is income reported when produced, and expenses when incurred. A typical business accounting system, noted Mi chael P. Peachey, CPA, and director at Miller and Miller CPA, Lancaster, is like the human body. He noted there has to be a “leg bone and an arm bone for the body to function,” and those specific tasks (Turn to Page 41) (BBJ) STORAGE & GRAIN HANDLING EQUIP. We Manufacture... • Hammer Mills • Augers We Manufacture... Painted, Galvanized and Stainless Steel. Fabrication to Automate Your Operation. automatic farm systems I'lji i)OH i= tivr- 11 )if u-n Ho,id Lohrinon PA 17042 phono 717-274-5333 Land O'Lakes, Inc. Our member services help you meet your goals. El Lock in a milk price with our forward contracting options. El Expand or upgrade with cattle and equipment financing. El Improve your milk quality with our Extended Services. El Develop your personal skills through our recently enhanced Leader Development Program. Land O’Lakes ♦ Carlisle, PA ♦ 1-800-645-MILK Tammy and Sean Jones, Jones Family Farm In Massey, Md., take part in an ac counting exercise during the Dairy Alliance Account Methods For Progressive Dairies Workshop at the Penn State Harrisburg Campus. Photo by Andy Andrews, editor
Significant historical Pennsylvania newspapers