Estimated completion time: 45 minutes

This unit is all about the basics. It’s a foundational step in decoding the essential tools and concepts used in business. You’ll learn about financial statements, including balance sheets and income statements. Often regarded as the “language” of business, these documents convey critical information about an operation's financial health, performance and sustainability. By understanding and interpreting these statements, you’ll gain insights into your farm’s financial story, enabling you to make informed decisions, assess stability and plan for your farm’s future. 

Lessons: 

• Planting the seed about money
• Beginning with the basics:1  
• Beginning with the basics:2

Learning objectives:  

• Feel empowered and capable of improving your financial literacy and management. 
• Recognize what it takes to read your scoreboards (financial reports).
• Explain the basic premise of a balance sheet, including its equation.
• Apply the balance sheet components to your circumstances.