The Rural Voice, 1988-12, Page 58NEW & USED STEEL
for Gates, Pens, Supports, Pipes,
Fences, Farm Buildings & Equipment
See us for all your building and repair projects
Hwy. 6 & 10, Owen Sound, 519-376-0420
Season's Greetings
Lobby - your
Lori Foca Leader
has done it aganl
WEVE JUST BOUGHT
THE REST OF THE
YARDMAN 1988 FACTORY
PRODUCTION OF
10 H.P. GARDEN
TRACTORS
pis ran best wand
Wart traaall
SPECIAL
CHRISTMAS
PURCHASE
SALE!
of Lobb's best-selling garden
tractor for 1988 ...
YARDMAN 1034
•10 H P 31 cW
•3 Year Warranty
LIMITED QUANTITY AT ONLY
1,795.
i.-
(RD•MaN )
BUY IT FOR CHRISTMAS — BUY FOR
NEXT SPRING AND SUMMER — BUT BUY NOW!
OUANTITIES ARE LIMITEDI
56 THE RURAL VOICE
H. LOBB & SONS LTD.
ld Reed
CLINTON 482-3409
ADVICE
TAKE AN ANNUAL
FARM INVENTORY
You don't often see a "Closed for
Inventory" sign at the entrance to a farm,
but as in the store in town, taking inven-
tory is essential to managing the busi-
ness.
A farm inventory is a count and valu-
ation of all the crops, supplies, feed, and
livestock on hand at the end of the busi-
ness year. Also included in the inven-
tory are receivables and payables (in-
come owed to you and bills that you owe
at year end). Many businesses choose
December 31 as their year end for tax
purposes, but this date can vary as long
as the same date is used from year to
year.
In the past, it was not common for
farmers to take an annual inventory
because cash -basis tax filing does not
require an inventory adjustment. How-
ever, the accounting and financial man-
agement demands of the farm business
have grown, and accurate annual inven-
tories are needed.
The inventory is used with the previ-
ous year's inventory to adjust the farm's
cash income statement to accrual, giv-
ing an accurate picture of the farm's
performance in the past business year.
This accrual income statement is not
used for tax purposes, but is demanded
by all lenders and is used by the Ontario
Ministry of Agriculture and Food in
several programs like the Farm Analysis
Project, OFFIRR, BFAP, and Farm
Start.
Your local OMAF office can supply
you with a "Farm Inventory Work-
sheet."0
Dave Rose
Farm Management Specialist
U.S. PESTICIDE LAW
The U.S. Environmental Protec-
tion Agency will begin imple-
menting a new pesticide law by
late February when it publishes
the first list of farm chemicals
that must be re-evaluated for
safety. About 600 pesticide in-
gredients approved before test-
ing methods were modernized
will be examined.
i