DAIRY NEWS – Dairy owners, consultants, lenders and other industry stakeholders have the opportunity to amplify their HR management and financial literacy skills at the Business Management & Advanced Finance Workshop, presented by Professional Dairy Producers®(PDP). The two-day course combines conceptual discussions and case studies to give participants the tools to implement best practices in their dairy operations.
The workshop will be held Wed., Oct. 29, and Thurs., Oct. 30, at Compeer Financial in Sun Prairie, Wis., running from 9:00 a.m. to 6:30 p.m. Wednesday and from 8:00 a.m. to 4:00 p.m. Thursday.
Facilitated by globally recognized expert Dick Wittman, Wittman Consulting, the course will take a deep dive into these core topics:
- Farm management proficiency: Assess and enhance key competencies in financial and human resource management.
- Financial statements: Master the development and interpretation of balance sheets and income statements, focusing on key financial strategies.
- Cash flow budgeting: Create reliable financial projections and enhance year-end financial planning using advanced budgeting tools.
- Financial metrics and simulation: Experiment with the DuPont financial simulation model and use partial budgeting tools to assess the impact of strategic shifts on your operation.
- Cost and managerial accounting: Understand the crucial differences between managerial accounting and enterprise analysis, and learn to build cost centers and profit centers for accurate financial management.
- Family business governance: Develop a robust governance structure with clearly defined roles, responsibilities, and operating procedures that align with your mission, vision and core values.
- Growth management: Identify sustainable growth strategies and optimize acquisition of capital assets.
“This is a unique workshop that combines several topics into one program,” said Paul Lippert, Pittsville, Wis., dairy producer and PDP board president. “It’s designed for producers who already have a solid understanding of financial concepts and want to delve deeper into business governance and successful business transitions.”
To ensure that participants get the most out of the course, each person will complete pre-class assignments designed to assess current application of the workshop principles. This preparation will enable registrants to more rapidly implement the strategies and tools.
PDP Business Management & Advanced Finance Workshop is accredited for up to 12.5 Dairy AdvanCE continuing education credits.
Learn more and register for the workshop at www.pdpw.org or by contacting PDP at 800-947-7379. Follow along digitally in advance of and during the event by following @dairyPDPW on Facebook, Instagram, X, and LinkedIn.
Professional Dairy Producers® (PDP) is the nation’s largest dairy producer-led organization of its kind, focusing on producer professionalism, stakeholder engagement and unified outreach to share ideas, solutions, resources and experiences that help dairy producers succeed.
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