David Ward joined Farmanco
in July 2000 and works with 65 agricultural businesses in the
central and eastern wheatbelt. His prime area of expertise is in
matters of finance given his experience with the National Australia
Bank. David has developed his agronomic, marketing and farm
management skills by working alongside the FARMANCO team.
Qualifications & Professional Affiliations
Bachelor of Agribusiness - (Marketing) with Distinction. Curtin University of Technology, Perth, Western Australia (Muresk Institute of Agriculture campus).
AAAC - Independent Member of the Australian Association of Agricultural Consultants (W.A.) Inc.
Skills, Expertise & Interests
Consulting (Farm Management - Financial)
- Compile annual reviews analysing a business's financial and physical performance using profit analysis and reporting enterprise margins, profit, equity, liquidity, ratios / indicators and long term viability.
- Benchmark business performance.
- Prepare cash flow budgets.
- Analyse enterprise and rotational margins.
- Develop finance plans for seasonal funding, debt reconstruction, property purchase, machinery purchase, business restructuring.
- Analyse property leasing and share farming proposals. Develop contract content for short term and long term agreements.
- Working knowledge of the income tax system and its implications for the farming business.
- Good knowledge of off farm financial investment products.
Consulting (Farm Management - Technical)
- Most aspects of crop agronomy (cereals, canola, lupins, field peas, faba beans and chickpeas) and pasture agronomy (legume based) as it relates to Western Australia.
- A sound knowledge of crop protection including pesticide selection, spray adjuvants, pesticide application, and management of herbicide resistance.
- Nutrition strategies for crops and pastures.
- Working knowledge of Sheep and Wool production systems including husbandry and genetics - mentor to the Dowerin Group of "The Sheep's Back programme".
Consulting (Farm Management - Marketing)
- Provide general information (not legally allowed to give specific recommendations) for price risk management using futures and options for currency and commodities, OTC products and forward cash contracts.
Consulting (Farm Management - Strategic Planning)
- Develop farm business plans.
- Assist clients with estate and succession planning (with reference to specialists).
- Construct enterprise rotation plans after analysing the contribution of different enterprises to whole farm profitability and sustainability and considering integrated management of herbicide resistance.
Computers & Software
- Conversant with the operation of personal computers and associated hardware.
- Knowledge of various software including spreadsheets, word processors, specific agricultural applications and internet software.
- Help clients with cashbook coding, data entry and budgeting.
General
- An aptitude for figures and financial concepts - with a specific interest in business finance and analysis of business performance.
- Good ability to communicate effectively in written format.
Interests
- Family Life, Sport (all, but particularly Golf, Cricket and Fishing), Gardening, Carpentry DIY (Mr fix it), Broad Hectare Agriculture.
Previous Employment & Experience
NATIONAL AUSTRALIA BANK: 1984-2000
Commenced in 1984 as a junior officer and worked through from this position to lending positions. During this period I gained sound knowledge of banking procedures, interpersonal and communication skills, influencing skills, professional and technical knowledge and a capacity for change. As I progressed further to a Customer Service Supervisor and Consumer Business Officer, I was responsible for managing a consumer client portfolio which included; management of customer liabilities, prospecting and business development, developing referral sources etc. After this I undertook a similar role dealing with commercial clients and was promoted to the manager of the Nationals' Dowerin branch in December 1995.
This was my first management appointment and first exposure to rural lending. I managed a diversified portfolio of rural, commercial and consumer businesses. I was responsible for staff development, team sales and service and was recognised for providing "World Class Service" to all clients. During this period I gained experience in rural lending and a very good understanding of agriculture (broad hectare farming). I was rewarded for performance with a promotion to Rural Finance Manager - Northam 23/3/98.
In this position I managed a portfolio of small to medium size agricultural connections. Mainly wheat and sheep farmers in the central wheatbelt but also gained the business of several cattle farmers in the Gingin district and as such developed a basic working knowledge of this industry. This role enabled me to further my experience of agriculture.
Technical Skills include: Rural credit assessment, ability to analyse rural ledger applications, cash flow forecasting, balance sheet analysis, business development skills, very good understanding of broad hectare farming, excellent time management and excellent interpersonal skills.
