This paper provides an overview of the operation of the Queensland Dairy Accounting Scheme (QDAS) and the results and analysis of the 2003-04 data. QDAS is a voluntary scheme providing dairy farmers with an analysis of their dairy business. Key indictors measure performance and the results are then compared against benchmarks and personal targets. Analysis of data has shown that the profit drivers on the most profitable farms in QDAS, are production per cow, herd size, use of homegrown feeds and use of nitrogen fertiliser.