Emerging Farmers Learning Series — Financial Fluency: How to Read the Numbers
May 4, 2026 - Jazmin Bolan-Williamson, Bekah Galang
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EmailMichigan’s Emerging Farmers and the Michigan Good Food Fund hosted the sixth session of the Emerging Farmers Learning Series on April 8, 2026. During this session, Andy Larson of Food Finance Institute of the Universities of Wisconsin System led a presentation on basic business accounting and business management.
Andy discussed the following topics:
- Balance Sheet
- Income Statement vs Cash Flow
- Plan for Profitability & Plan to Pay your Tax Bill
- Types of Loans
- 5 C’s of Credit: Capacity, Capital, Collateral, Character, and Conditions
- Working with a Lender/Lender motivations
- How to prepare for a land purchase
Andy also supplied a list of free resources:
- Farm accounting- University of Missouri Extension
- Farm Business Sheet Template- MSU Extension Farm Management
- MSU Income Statement Template- MSU Extension Farm Management
- Accounting Software Options for Farmers- MSU Extension
- QuickBooks Chart of Accounts- MSU Extension
- Loan Readiness Toolbox for Food and Farm Businesses- MSU CRFS
- Time Management Workbook for Food and Farm Entrepreneurs- MSU CRFS
- Funding Sources for Food-Related Businesses, Digital Directory Edition- MSU CRFS
- FSA-2001 Request for Direct Loan Assistance
About Michigan Good Food Fund
Michigan Good Food Fund invests in food and farm entrepreneurs across the state, offering flexible financing and tailored business assistance to grow a more resilient, inclusive local food system. We meet entrepreneurs where they are, connect them with what they need, and build long-term relationships that help their businesses thrive. As we work toward a more resilient, inclusive food industry, we focus on entrepreneurs whose access to power and capital has been historically limited because of their race, ethnicity, and/or gender. Our efforts are guided by the shared vision of our Stakeholder Board, a diverse group of entrepreneurs, farmers, funders, and policymakers with deep roots in Michigan. Learn more at https://migoodfoodfund.org/
About Michigan’s Emerging Farmers
Our statewide program aims to create pathways to growth and economic opportunity for all of Michigan’s agricultural producers, including small- to mid-sized farmers. This project is funded by USDA National Institute of Food and Agriculture, in a cooperative agreement with members of the Michigan State University Center for Regional Food Systems, Michigan State University Extension, and Michigan Food and Farming Systems (MIFFS).
This work is supported by the American Rescue Plan Technical Assistance Initiative program, project award no. 2023-70417-39233, from the U.S. Department of Agriculture’s National Institute of Food and Agriculture.
Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and should not be construed to represent any official USDA or U.S. Government determination or policy.
