WEBINAR RECORDING
Understanding Farm Finances : Fixed Costs v. Variable Costs & VAT
Access the recording of our NFU-member exclusive webinar, presented by Product Specialist James Lutener, for valuable insights into managing farm finances. This session covers essential financial concepts crucial to maintaining long-term profitability, helping you gain a clearer understanding of your farm’s accounts.
Topics Covered:
- Structure of Accounts – Learn how to organise and manage your farm’s financial accounts, setting a solid foundation for financial clarity.
- Costs – Discover the difference between fixed and variable costs, and how each affects your farm’s bottom line.
- Variable Costs – Understand what makes a cost variable, and how to track them.
- Gross Margin – Explore how to calculate a gross margin and what it tells you about your farm.
- Overheads – Get insights into fixed costs and how to manage them efficiently.
- Profit and Loss – how do the above make up your profit and loss statement?
- VAT
- What it is and how is it applied to farming businesses?
- Coding of VAT – Explore the different VAT codes / rates that apply to farming operations.
- VAT Return – Guidance on completing your VAT return correctly and efficiently.
- Over and Under Declarations – Understand what happens if you over or under declare VAT and how to rectify mistakes.
If you have any questions, please do not hesitate to contact us on 01798 877100.
Recorded Event
