Processing of accounting data
Accounting data processing and quality assurance
ProAgria Centres, the corresponding Swedish-speaking organizations, and the Finnish Glasshouse Growers' Association collect the farms' financial data and record it into Luke's Smartti bookkeeping software. Cash revenues and expenses are most often obtained directly from the farms' tax accounting, and the data can be transferred directly to Luke's Smartti bookkeeping software. In addition to this information, data on farming operations, production volumes, the quantities and values of product and input inventories, changes in fixed assets, and the number of hours worked are required.
After data entry, the data collectors verify the information using an internet-based verification system. The system contains 6,000 tests that comprehensively check data related to the farms' finances as well as the physical production process on a farm-specific basis. Any potential deficiencies are corrected.
Next, the data is processed at Luke using its validation systems, and financial and operational checks are performed on the data. After this, the farm-specific data is checked using the EU's internet-based validation systems. Following any potential corrections, the data is acknowledged as submitted to the EU, and the results are published nationally in EconomyDoctor. The EU further inspects the data even after this, and Luke carries out the checks requested by the EU.
Calculation and publication of results
The farm's operations are divided into actual agriculture, horticulture, forestry, reindeer husbandry, and other business activities. Information related to the private household is not collected. Based on the data concerning agriculture and horticulture, financial statements for the farm's different sectors are calculated, as well as key figures describing the financial position and development.
The results are published by region, size class, and type of farming as group averages in the Agriculture and Horticulture online service of EconomyDoctor.
Based on the FADN data, the EU publishes the average results of all Member States, which are also provided in Finnish and Swedish in the FADN Standard Results online service on the EconomyDoctor website. In addition, Luke calculates key figures describing profitability, among other things, for all Member States and provides the results in the FADN Advanced Results online service.
Farm feedback and comparison reports
An enterprise participating in profitability bookkeeping receives annual farm feedback, which includes income statements and balance sheets, a more detailed breakdown of returns and costs for agriculture and horticulture, a liquidity statement, and a financial key figure report, as well as summaries of inventory, labor input, land use, and crop yield data.
A comparison report is also generated annually for each bookkeeping farm, containing the financial statements and key figures of the enterprise for both the financial year under review and the previous one. Furthermore, the report contains corresponding data from a comparison group. The results of the comparison group are weighted averages of profitability bookkeeping enterprises of the same size, practicing similar production in the same region. In addition to the averages, the comparison group provides results for the high-performing and low-performing groups, so that the entrepreneur can examine their own enterprise's positioning within the comparison group.
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