Abstract

The reduction in agricultural profitability in the Republic of Ireland (ROI) has created a need for vigilant and ruthless monitoring of the financial performance of the farm business. Increased business risk and tighter margins mean that knowledge and skills in financial management, long-term planning, and effective monitoring are essential for all Irish farmers.

The Irish Extension Service, referred to as Teagasc, reorganized its advisory resources into two new services in 2001. One of these resources was the Technology and Business Service. Teagasc has a dedicated staff to help Irish farmers to improve their business management skills from which this study was initiated. This study employed triangulation procedures and revealed that Teagasc plays a significant role in providing Irish dairy farmers with professional farm production advice. However, the Irish dairy farmer still relies on the accountant and on annual tax accounts when dealing with financial management issues.

Keywords: Dairy, Financial Analysis, Financial Management, Tax Accounts, Decision-Making

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