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 Tools to Help you Achieve Success

If all farmers were to follow an ideal plan they would complete the following, but not necessarily in the order listed:

  • Business plan every 5 years & reviewed annually after a Teagasc Profit monitor is completed.
  • Annual farm and household budget ideally using some software.
  • Cash flow recording is completed monthly and compared the budget at point 2
  • An annual business review is completed using the Teagasc Profit Monitor.
  • The annual farm accounts are discussed in detail with the accountant in a timely fashion and not just before the submission deadline.

The Teagasc Farm Business Monitoring System

For someone starting out, a Profit monitor could be completed from a set of accounts. Cash flow budgeting could be started at any time. This can be used to build a picture as time moves forward.