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Practically Ranching

#51 - Stan Bevers, More to Your Bottom Line

Feb 28, 2024
The podcast features Stan Bevers, an expert in ranching economics, discussing key performance indicators and accounting principles to improve profitability. Topics include managing expenses, maximizing productivity, comparing managerial and tax accounting, utilizing fixed asset software for analysis, and maximizing revenue through data-driven decision-making in ranching operations.
01:15:53

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Tracking key performance indicators (KPIs) can enhance ranch efficiency by isolating areas needing improvement.
  • Analyzing operational expenses like labor and equipment costs is vital for sustainable ranching.

Deep dives

Efficiency through Managerial Accounting

Utilizing managerial accounting techniques can lead to increased efficiency on ranches by tracking key performance indicators (KPIs). By isolating expenses into support, cost, and profit centers, ranchers can gain insights into areas needing improvement. For instance, monitoring labor costs per cow or overhead costs can help in making informed decisions to enhance profitability.

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