Financial Analysis In The Irish Farming Industry Its Uses And Its Usefulness



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3.4.3 Decision-Making


If the farmer is contemplating taking the route of supplementing farm income, how does he make his decision without resorting to financial analysis? Farmers need a sound basis to effectively decide if their best option in the future is to expand, become part-time farmers, or leave the industry. Perhaps they may feel the need to change their farming sector, thus enters a fourth option.
In commercialisation, there is an increasing need for sound financial decisions - intuition or industrial judgements are no longer adequate. The best method would be to compare the projected cash flows and return on investment under each alternative available.


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