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3. 2022 Extension Risk Management Education National Conference

Impact of risk management online courses in Puerto Rico

Melvin Mercado, Alondra Berríos, Alexandra Gregory, and Gladys González

Summary

Farmers and ranchers in Puerto Rico have suffered many losses due to recent emergencies such as hurricanes, earthquakes, and now to the pandemic. It is because of these events, especially after the landfalls of hurricane María, farmers and ranchers have seen the need to have crop insurance, insurance in general, and keep accounting records to submit their claims to the insurance companies and USDA programs. The project titled: Risk Management and Emergency Preparedness in Puerto Rico proposed to deliver accounting, financial skills, and tools for the target audience so they could have up-to-date accounting information, reduce financial risks and prepare for future events. To achieve these objectives, we proposed to offer 16 hours of training in the following topics: Risk Management, Income Statement, Cash Flow, Inventory, Balance Sheet, Financial Score Card, Introduction to Microsoft Excel and the Accounting and Financial System for Farms in Excel. This poster presentation will present the results of participants’ pre and post test. These results showed that participants gained knowledge in financial risk management area, thus having a positive impact for their farms and agribusiness.

Details

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