FARM FINANCIAL STANDARDS

The Farm Financial Standards were developed by a national effort to en courage standardization. Standardization includes financial statement formats, terminology, and calculations for measuring financial positio n and format. Comparative analysis and education efforts are enhanced greatly by standardization. The Standardization Performance Analysis ( SPA) system was developed on the basis of the performance standards fo r beef cattle and sheep enterprises. This article summarizes the Farm Financial Standards and illustrates the calculations with a worksheet.