Accession planning and forecasting

The problem with some succession plans is that they set the next generation up for failure. Our Farm Accountants in Red Deer like to take an extra step and look at succession from the next generation’s point of view. Planning for the transition of ownership needs to be a well-thought-out process, and it's important for the next generation to understand what to expect financially. We can help with the development of management reporting systems, including financial analysis, current and projected cash flows, and budgeting. We can help take some of the “scary unknowns'' of taking over the farm and turn them into informed decisions. At the very least, the next generation will understand what can be expected in various scenarios and will have some guidance along the way if needed.