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title: January 2021 FarmSmart Newsletter
description: Computers on the Farm Virtual Conference, Farm Financial Standards update, 2021 farm trade show updates,  FBS Users in the News.
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 Computers on the Farm Virtual Conference, Farm Financial Standards Update, 2021 Trade Show Updates, FBS Tips and Tricks

| Not rendering correctly? View this email as a web page here. FarmSMART                   January 2021 Dear Friend, Bless the LORD, O my soul, and all that is within me, bless his holy name....who satisfies you with good so that your youth is renewed like the eagle’s.                                   Psalms 103:1,5 In this month's newsletter: Computers on the Farm Virtual Conference. Farm Financial Standards Update. 2021 Trade Show Updates.  FBS Users in the News. FBS Tips and Tricks.                                                                                                                                                                                    SDG   February 8 & 9 Virtual Conference If you are a farmer who wants to make more effective use of your computer on your farm, this conference is designed for you! Computers on the Farm, sponsored by the University of Missouri Extension, is an annual event for all people interested in computer applications on the farm. This year's conference will be moving online for two evenings. Topics are planned for both beginning and advanced users. Demonstrations and discussion of computer technologies for farm applications are emphasized. Much of the conference consists of current farm users sharing experiences about computer applications they are using in their operations. This year’s topics include: Virtual Conferencing – Ins and Outs Monitoring the Farm from a Security Standpoint Advanced Spreadsheet Discussions Farm Accounting -Update/Future (presented by FBS) Update on Farm Taxes Social Media – Utilization on the Farm Precision Ag and Drone Technologies – Updates / New Rules Spearheading Digital Transformation of Rural America With the conference moving to a virtual environment via ZOOM. Topics will be designed to provide demonstrations to simulate a hands-on experience for beginners and experienced farm computer users. Registration fee of $20.00 will cover the access to both evenings, as well as recordings of each topic For a conference details and registration information, go to: https://extension.missouri.edu/events/2021-computers-on-the-farm-virtual-conference and http://agebb.missouri.edu/cotf/ or contact Kent Shannon at 573-882-7510 or email: shannond@missouri.edu Farm Financial Standards Updates Accounting Guidelines Financial Reporting Management Accounting A new year means new revisions to the FFSC Financial Guidelines for Agriculture. Stay up to date by ordering the 2021 edition of our guidelines document. The Financial Guidelines for Agricultural Production provides recommended standards for format and content of financial reports, recommended financial measures common to all sectors of agriculture, and example statements and measures. You can order the guidelines here. What’s new in 2021? Formatting consistency (fonts, ToC, layouts, etc.) between Financial and Management Accounting documents. (Formatting updates are only relevant changes to MA documents so there is no need to order a new copy of that document. Basic information remains the same. Changes to Appendixes A & B. The objective with this change was to separate deferred income taxes from estimated income taxes associated with gains on real estate appreciation (i.e., estate income taxes). This change allows for a higher level of detail in the market balance sheet. Deferred taxes impact net income while estimated income taxes do not. Accordingly, they are used in differing ways by users of the financial statements. By separating these two items on the market value balance sheet, users can see the subtotal before and after including estimated income taxes, allowing for a more accurate reflection of financial position. Changes to some of the numbers in Appendix A, mainly related to deferred income taxes, and these changes had a ripple effect for other calculations to other financial statements in Appendix A and to the financial ratios and measures computed in Appendix C. Complete this survey to receive a free copy of the 2021 Management Accounting Guidelines for Agriculture. 2021Trade Show Updates Here's the latest update on farm trade shows in 2021.  Note that only one has been cancelled, some converted to virtual, and the rest rescheduled.  Stay tuned! Show Date Location Booth TRADE SHOW CANCELED Des Moines, IA   June 22 (NEW DATE) Coralville, IA   June 23-24 (NEW DATE) Coralville, IA   March 31-   April 1 (NEW DATE) Louisville, KY 1009 First week in March (NEW DATE) Virtual Format   June 9-11 Des Moines, IA   FBS/MASA Users in the News Farm Journal Magazine 2021 Conservation Issue includes a profile of Bryan and Nick Jorgensen, Jorgensen Land and Cattle, Ideal, S.D., and their approach to soil health, which incorporates diverse forages and cover crops with intense animal grazing and nutrition. Q&A: FBS Tips and Tricks Q. This month Sarah is sharing ideas that will make your software experience more enjoyable. Know what version of FBS you are running. It tells you right up at the top of the FBS screen. Know where your data is. It tells you on the first screen you open up. On the right hand side of the screen at the top of the file tree it will tell you the path. Usually it would be located someplace like C:\\ FBSWIN11.4\\DATA. Backup your data to a safe place. I recommend utilizing a cloud drive.  I had a client this week who experienced a house fire; fortunately, their data was backed up on a cloud drive. So once everything was settled and they purchased a new computer, I was able to connect, install the software, restore their data backup from the cloud, and get them up and going quickly! The last thing you want to worry about while going through a disaster is redoing all your accounting work! Sarah Dixon, FBS Support Coordinator    FBS Systems, Inc.   Box 185  601 SE 19th Avenue Suite 2  Aledo,  IL   61231   US You received this email because you are subscribed to Newsletter from FBS Systems, Inc.. Update your email preferences to choose the types of emails you receive.  Unsubscribe from all future emails  |
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