#01 Financial Blind Spots

Welcome to Episode 1 of the Get Ahead of It series! In this episode, host Warren Ryan sits down with long-term primary producers and experienced Rural Financial Counsellors Kath Clarke and Kim Corfield to uncover the financial blind spots hiding in your farm’s numbers.We break down the big three financial reports (profit &loss, balance sheet, and cash flow) and reveal why a farm can look highly profitable on paper while still leaving you wondering where the cash actually went.====================📌 Chapters:00:00 Introduction and webinar overview01:54 Types of financial reports explained03:22 Cash vs. accrual accounting methods05:52 What profit and loss reports don’t show06:40 Understanding the balance sheet08:02 The purpose of cash flow statements11:34 Why profit can differ from bank balance14:33 Using financial statements to improve farm performance20:36 Analysing crop-specific profitability22:03 Interpreting financial data for future planning25:06 Preparing for seasonal cash flow challenges26:02 Next steps and upcoming webinars====================👩‍🌾 About Our Guests:Kim Corfield is from the North Burnett region and has been bringing practical, on-the-ground rural financial counselling experience to primary producers for nearly two decades. Having lived experience on the land herself, she specialises in helping farm businesses navigate cash flow constraints, debt structuring, and long-term viability.Kath Clarke is from the Bundaberg region for the Rural Financial Counselling Service (RFCS) and has been empowering farmers for almost nine years. With a background in primary production, Kath focuses on breaking down complex financial statements into actionable steps to help farm businesses thrive.====================🔗 Connect & Resources:Need help unpacking your numbers? Request a free, 100% confidential chat with a local Rural Financial Counsellor: https://rfcssq.org.au/contact-us/appointment/Subscribe to our channel so you never miss an episode!Also available on our YouTube Channel: https://youtu.be/bzk6JM8anf8