FINPACK 2001 Training To Be Offered in Fargo

The North Dakota State University Extension Service will hold a two-day FINPACK 2001 farm financial management software workshop in Fargo at the Cass County Government Annex on Monday and Tuesday, Dec. 18 and 19. Sessions will begin at 9 a.m. and end at 4 p.m.

The FINPACK 2001 workshop is for producers, lenders, educators, and consultants in agriculture, says Andrew Swenson, extension farm and family resource management specialist at NDSU. The workshop will provide hands-on training and the step-by-step procedure to use FINPACK 2001 for farm and financial analysis and management.

FINPACK 2001 software can project farm cash flows for up to 10 years and provide monitoring worksheets to gauge a farm’s progress during the year. A year-end analysis gives an accrual income statement and financial performance measures for a whole farm and each farm enterprise. FINPACK 2001 allows users to compare the financial outcome of the current farm operation and alternative plans such as expansion, new enterprises and changes in debt structure. The program also keeps a historical database on each farm to evaluate the trends of any financial or production items such as net farm income, acreage, seed cost per acre and feed cost.

FINPACK has been in development since the early 1970s at the University of Minnesota. The personal version of FINPACK 2001 costs $395 and the professional version costs $1,195.

Attendance in the FINPACK 2001 workshop is limited so preregistration is required. The registration fee is $70. To register, either call (701) 231-8642 or mail the $70 fee to Extension Agribusiness and Applied Economics, NDSU, P.O. Box 5437, Fargo, ND 58105-5437.

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Source: Andy Swenson, (701) 231-7379, aswenson@ndsuext.nodak.edu
Editor: Tom Jirik, (701) 231-9629, tjirik@ndsuext.nodak.edu