Abstract
Dairy farmers, particularly those who run small- and middle-sized enterprises, face significant economic challenges. Financial guidance is more critical than ever. This three-part series addresses this need by offering tools and guidelines that will improve dairy producers' risk-management assessments and decision-making. The first installment of this three-part series focuses on strategic plans, balance sheets, income statements and net cash flow, and discusses the roles all four play in maintaining a successful dairy enterprise.