Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Farm Budget Planning Goes Hi-Tech With ANZ

Tuesday 16 April 2002

Financial planning just got that much easier for farmers thanks to the ANZ. The Bank has developed a suite of free on-line farm planning and budgeting tools - the first of their kind in Australasia.

Available from ANZ's website, www.anz.co.nz, the Farm Budget Planners are designed to help farmers plan for changes such as movements in output or input costs, variations in production or yield, or increasing borrowing.

Developer Gavin Crawley-Smith says the new web-based tools are quick, easy to use and provide valuable insights into farm operations.

"Farmers would prefer to be out on the tractor rather than spending time on book-keeping and finances," says Mr Crawley-Smith. "The planners look at 'what if' scenarios, such as expanding your business or taking on new employees, and can help with risk management by analysing data based on seasonal factors and market conditions.

ANZ District Manager Peter Nation says the Farm Budget Planners will be of great assistance to his customers.

"We know farmers are big users of the Internet. The planners are a response to their need for tools that allow them to easily marry production factors with financial outcomes, and are quick and easy to use," says Mr Nation.

"For example the recent rise of wholesale interest rates and analysts' forecasts that they will continue to lift throughout the year will clearly impact farmers in various ways from debt servicing to cashflow. The new tools enable farmers to work out what effect any movement in interest rates could have on their operation now and in the future, so they can make more informed decisions."

The new tools consist of six Budget Planners, developed specifically for the major farm types. The planners can be used to:

* Provide simple annualised budgets
* Plan the next season or run various scenarios
* Provide estimates of repayments on a new loan
* Analyse a current operation
* Identify market trends
* Generate ratios and benchmarks to help identify potential issues
* Provide supporting information for financial reports
* Analyse, plan and manage risk more effectively

All users need to do is input information about past, current or proposed operations into the various fields and click a button to reveal the impact of their changes.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO: