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)
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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